J P Morgan Chase & Co Boosts Mohawk Industries, Inc. (MHK) Price Target to $285.00
Mohawk Industries, Inc. (NYSE:MHK) had its price target upped by J P Morgan Chase & Co from $250.00 to $285.00 in a research note released on Monday. J P Morgan Chase & Co currently has a neutral rating on the stock.
A number of other research analysts also recently commented on the stock. ValuEngine raised shares of Mohawk Industries from a hold rating to a buy rating in a research report on Friday, September 8th. Zacks Investment Research downgraded shares of Mohawk Industries from a hold rating to a sell rating in a research report on Tuesday, October 24th. Cleveland Research downgraded shares of Mohawk Industries from a buy rating to a neutral rating in a research report on Friday, September 22nd. BidaskClub raised shares of Mohawk Industries from a buy rating to a strong-buy rating in a research report on Wednesday, July 12th. Finally, Royal Bank Of Canada reaffirmed a buy rating and set a $267.00 price objective on shares of Mohawk Industries in a research report on Monday, July 24th. One investment 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’s stock. The stock presently has an average rating of Buy and an average target price of $279.15.
Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, October 26th. The company reported $3.75 EPS for the quarter, beating the Zacks’ consensus estimate of $3.74 by $0.01. Mohawk Industries had a net margin of 10.37% and a return on equity of 16.03%. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the previous year, the firm posted $3.50 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis.
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In other Mohawk Industries news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $254.95, for a total value of $5,022,515.00. Following the completion of the sale, the chairman now directly owns 21,396 shares of the company’s stock, valued at $5,454,910.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Rodney David Patton sold 137 shares of the business’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 transaction of $33,808.86. Following the completion of the sale, the vice president now directly owns 6,924 shares of the company’s stock, valued at $1,708,704.72. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.
A number of hedge funds have recently bought and sold shares of MHK. Sun Life Financial INC grew its position in Mohawk Industries by 5,675.0% in the second quarter. Sun Life Financial INC now owns 462 shares of the company’s stock worth $112,000 after acquiring an additional 454 shares in the last quarter. First Personal Financial Services lifted its stake in shares of Mohawk Industries by 6.6% in the second 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 lifted its stake in shares of Mohawk Industries by 18.6% in the second 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. acquired a new stake in shares of Mohawk Industries in the second quarter worth $160,000. Finally, Bridgewater Wealth & Financial Management LLC acquired a new stake in shares of Mohawk Industries in the second quarter worth $203,000. 76.91% of the stock is owned by institutional investors.
About Mohawk Industries
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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