Mohawk Industries, Inc. (MHK) Given a $300.00 Price Target by Nomura Analysts
A number of other research analysts also recently weighed in on MHK. MKM Partners reiterated a buy rating and set a $286.00 target price (up previously from $255.00) on shares of Mohawk Industries in a report on Wednesday, August 2nd. SunTrust Banks, Inc. reiterated a buy rating and set a $275.00 target price on shares of Mohawk Industries in a report on Friday. Royal Bank Of Canada reiterated a buy rating and set a $291.00 target price on shares of Mohawk Industries in a report on Monday, July 31st. Zacks Investment Research downgraded Mohawk Industries from a buy rating to a hold rating in a report on Wednesday, August 2nd. Finally, Instinet reiterated a buy rating and set a $288.00 target price (up previously from $280.00) on shares of Mohawk Industries in a report on Saturday, September 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Mohawk Industries has a consensus rating of Buy and an average target price of $279.15.
Shares of Mohawk Industries (NYSE:MHK) opened at 262.96 on Friday. Mohawk Industries has a 52 week low of $175.52 and a 52 week high of $268.46. The firm’s market cap is $19.55 billion. The stock has a 50 day moving average price of $256.02 and a 200 day moving average price of $245.87.
Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, October 26th. The company reported $3.75 earnings per share for the quarter, topping analysts’ consensus estimates of $3.74 by $0.01. Mohawk Industries had a return on equity of 16.03% and a net margin of 10.37%. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the prior year, the business earned $3.50 EPS. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts expect that Mohawk Industries will post $13.49 earnings per share for the current year.
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In related news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $254.95, for a total value of $5,022,515.00. Following the sale, the chairman now owns 21,396 shares in the company, valued at approximately $5,454,910.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Rodney David Patton sold 137 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $246.78, for a total value of $33,808.86. Following the completion of the sale, the vice president now owns 6,924 shares in the company, valued at approximately $1,708,704.72. The disclosure for this sale can be found here. Corporate insiders own 17.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Sun Life Financial INC grew its stake in shares of Mohawk Industries by 5,675.0% in the 2nd quarter. Sun Life Financial INC now owns 462 shares of the company’s stock worth $112,000 after buying an additional 454 shares during the last quarter. First Personal Financial Services grew its stake in shares of Mohawk Industries by 6.6% in the 2nd quarter. First Personal Financial Services now owns 568 shares of the company’s stock worth $137,000 after buying an additional 35 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Mohawk Industries by 18.6% in the 2nd quarter. IFP Advisors Inc now owns 625 shares of the company’s stock worth $151,000 after buying an additional 98 shares during the last quarter. First Manhattan Co. purchased a new stake in shares of Mohawk Industries in the 2nd quarter worth approximately $160,000. Finally, Bridgewater Wealth & Financial Management LLC purchased a new stake in shares of Mohawk Industries in the 2nd quarter worth approximately $203,000. Institutional investors own 76.91% of the company’s stock.
Mohawk Industries Company Profile
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.
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