Analysts at Deutsche Bank began coverage on shares of Mohawk Industries (NYSE:MHK) in a note issued to investors on Wednesday, November 20th, Marketbeat.com reports. The brokerage set a “hold” rating and a $158.00 price target on the stock. Deutsche Bank’s target price suggests a potential upside of 13.37% from the company’s current price.
Other equities analysts have also recently issued research reports about the stock. Raymond James cut their price objective on shares of Mohawk Industries from $145.00 to $140.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 22nd. Nomura dropped their price target on shares of Mohawk Industries from $176.00 to $167.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Zacks Investment Research cut shares of Mohawk Industries from a “hold” rating to a “sell” rating and set a $131.00 price target on the stock. in a research report on Thursday, August 1st. Buckingham Research raised shares of Mohawk Industries from an “underperform” rating to a “neutral” rating and raised their price target for the company from $115.00 to $117.00 in a research report on Tuesday, July 30th. Finally, Wells Fargo & Co cut shares of Mohawk Industries from a “market perform” rating to an “underperform” rating and set a $110.00 price target on the stock. in a research report on Monday, October 14th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $140.13.
Shares of NYSE:MHK traded down $1.89 during trading on Wednesday, hitting $139.37. 246,189 shares of the company were exchanged, compared to its average volume of 772,348. The business’s 50 day moving average is $138.45 and its 200-day moving average is $134.44. The company has a market capitalization of $10.13 billion, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 1.89 and a beta of 1.34. 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.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, October 24th. The company reported $2.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.64 by $0.11. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.51 billion. Mohawk Industries had a return on equity of 9.82% and a net margin of 7.09%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same period last year, the business posted $3.29 EPS. As a group, sell-side analysts anticipate that Mohawk Industries will post 9.97 earnings per share for the current year.
In related news, insider Cock Paul F. De sold 1,489 shares of Mohawk Industries stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $145.14, for a total value of $216,113.46. Following the completion of the transaction, the insider now directly owns 24,260 shares in the company, valued at approximately $3,521,096.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cock Paul F. De sold 800 shares of Mohawk Industries stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $126.44, for a total transaction of $101,152.00. Following the completion of the transaction, the insider now owns 25,360 shares of the company’s stock, valued at $3,206,518.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,205 shares of company stock valued at $5,831,913. 18.00% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the business. HighTower Advisors LLC bought a new position in Mohawk Industries in the 2nd quarter valued at $201,000. Natixis Advisors L.P. boosted its holdings 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 purchasing an additional 3,355 shares during the period. 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 lifted its holdings in shares of Mohawk Industries by 5.9% during the 3rd quarter. World Asset Management Inc now owns 4,609 shares of the company’s stock worth $572,000 after acquiring an additional 258 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its stake in shares of Mohawk Industries by 0.3% in the second quarter. Retirement Systems of Alabama now owns 28,707 shares of the company’s stock worth $4,233,000 after buying an additional 88 shares in the last quarter. 79.18% of the stock is 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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