Deutsche Bank assumed coverage on shares of Mohawk Industries (NYSE:MHK) in a report issued on Wednesday, Briefing.com Automated Import reports. The brokerage issued a hold rating and a $158.00 price target on the stock.
A number of other research firms have also recently commented on MHK. Zacks Investment Research cut Mohawk Industries from a hold rating to a sell rating and set a $131.00 price target on the stock. in a report on Thursday, August 1st. Buckingham Research raised Mohawk Industries from an underperform rating to a neutral rating and upped their price objective for the stock from $115.00 to $117.00 in a report on Tuesday, July 30th. Robert W. Baird upped their price objective on Mohawk Industries from $150.00 to $168.00 and gave the stock an outperform rating in a report on Monday, October 28th. Stifel Nicolaus upped their price objective on Mohawk Industries from $145.00 to $165.00 in a report on Monday, October 28th. Finally, Wells Fargo & Co cut Mohawk Industries from a market perform rating to an underperform rating and set a $110.00 price objective on the stock. in a report on Monday, October 14th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $141.31.
NYSE MHK traded up $1.45 during trading hours on Wednesday, reaching $140.27. The company’s stock had a trading volume of 498,804 shares, compared to its average volume of 968,384. The firm’s 50-day moving average price is $136.04 and its 200-day moving average price is $134.26. The company has a quick ratio of 0.77, a current ratio of 1.52 and a debt-to-equity ratio of 0.22. Mohawk Industries has a 1 year low of $108.93 and a 1 year high of $156.60. The company has a market capitalization of $9.94 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 1.86 and a beta of 1.34.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, October 24th. The company reported $2.75 EPS for the quarter, topping the Zacks’ consensus estimate of $2.64 by $0.11. Mohawk Industries had a return on equity of 9.82% and a net margin of 7.09%. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the previous year, the firm earned $3.29 EPS. The firm’s revenue was down 1.8% compared to the same quarter last year. Equities research analysts anticipate that Mohawk Industries will post 9.97 EPS for the current fiscal year.
In other news, insider Cock Paul F. De sold 800 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $126.44, for a total transaction of $101,152.00. Following the transaction, the insider now owns 25,360 shares of the company’s stock, valued at approximately $3,206,518.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Suzanne L. Helen sold 26,316 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $152.10, for a total value of $4,002,663.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,205 shares of company stock worth $5,831,913. Corporate insiders own 18.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC bought a new position in Mohawk Industries in the 2nd quarter valued at $201,000. Natixis Advisors L.P. grew its position in Mohawk Industries by 30.2% in the 2nd quarter. Natixis Advisors L.P. now owns 14,481 shares of the company’s stock valued at $2,135,000 after acquiring an additional 3,355 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in Mohawk Industries in the 2nd quarter valued at $292,000. World Asset Management Inc grew its position in Mohawk Industries by 5.9% in the 3rd quarter. World Asset Management Inc now owns 4,609 shares of the company’s stock valued at $572,000 after acquiring an additional 258 shares during the last quarter. Finally, Retirement Systems of Alabama grew its position in Mohawk Industries by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 28,707 shares of the company’s stock valued at $4,233,000 after acquiring an additional 88 shares during the last quarter. 82.98% of the stock is currently owned by hedge funds and other institutional investors.
About Mohawk Industries
Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).
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