Mohawk Industries, Inc. (MHK) Hits New 1-Year High at $272.28
Mohawk Industries, Inc. (NYSE:MHK) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $272.28 and last traded at $270.65, with a volume of 367100 shares trading hands. The stock had previously closed at $267.10.
A number of research analysts have issued reports on MHK shares. Northcoast Research started coverage on shares of Mohawk Industries in a report on Thursday, October 5th. They issued a “buy” rating and a $295.00 target price on the stock. Instinet reiterated a “buy” rating and set a $288.00 price objective (up from $280.00) on shares of Mohawk Industries in a report on Saturday, September 30th. Nomura restated a “buy” rating and issued a $288.00 price target (up previously from $280.00) on shares of Mohawk Industries in a report on Thursday, September 28th. BidaskClub lowered shares of Mohawk Industries from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $267.00 price target on shares of Mohawk Industries in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. Mohawk Industries presently has a consensus rating of “Buy” and a consensus price target of $281.42.
The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.77 and a current ratio of 1.48. The firm has a market cap of $19,850.88, a PE ratio of 19.86, a PEG ratio of 2.42 and a beta of 1.35.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, October 26th. The company reported $3.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the company earned $3.50 earnings per share. Mohawk Industries’s revenue for the quarter was up 6.7% on a year-over-year basis. equities analysts anticipate that Mohawk Industries, Inc. will post 13.52 EPS for the current year.
In other news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the firm’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 transaction of $5,022,515.00. Following the completion of the sale, the chairman now owns 21,396 shares of the company’s stock, valued at $5,454,910.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 17.00% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its holdings in Mohawk Industries by 399.2% in the second quarter. Janus Henderson Group PLC now owns 34,392 shares of the company’s stock worth $8,312,000 after purchasing an additional 27,503 shares during the period. Aviva PLC boosted its holdings in Mohawk Industries by 1.1% in the second quarter. Aviva PLC now owns 38,875 shares of the company’s stock worth $9,396,000 after purchasing an additional 410 shares during the period. American Century Companies Inc. acquired a new position in Mohawk Industries in the second quarter worth $53,508,000. Utah Retirement Systems boosted its holdings in Mohawk Industries by 0.9% in the second quarter. Utah Retirement Systems now owns 11,397 shares of the company’s stock worth $2,754,000 after purchasing an additional 100 shares during the period. Finally, Swiss National Bank boosted its holdings in Mohawk Industries by 3.2% in the second quarter. Swiss National Bank now owns 230,474 shares of the company’s stock worth $55,703,000 after purchasing an additional 7,100 shares during the period. 76.19% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: This piece was reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this piece on another site, it was illegally stolen and reposted in violation of U.S. and international copyright law. The legal version of this piece can be read at https://theolympiareport.com/2017/11/17/mohawk-industries-inc-mhk-hits-new-1-year-high-at-272-28.html.
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.
Receive News & Ratings for Mohawk Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mohawk Industries Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.