Mohawk Industries, Inc. (NYSE:MHK) has been assigned an average recommendation of “Hold” from the twenty-three brokerages that are presently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $145.75.
Several brokerages have recently issued reports on MHK. Zacks Investment Research lowered shares of Mohawk Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. Loop Capital raised their target price on shares of Mohawk Industries to $145.00 and gave the company a “hold” rating in a research note on Friday. Longbow Research lowered shares of Mohawk Industries from a “buy” rating to a “neutral” rating and set a $125.98 target price on the stock. in a research note on Friday, March 29th. Stifel Nicolaus raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and raised their target price for the company from $135.00 to $180.00 in a research note on Wednesday, May 15th. Finally, ValuEngine raised shares of Mohawk Industries from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 15th.
In related news, Chairman Jeffrey S. Lorberbaum sold 18,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $142.76, for a total value of $2,569,680.00. Following the sale, the chairman now directly owns 47,603 shares in the company, valued at approximately $6,795,804.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bernard Thiers sold 2,800 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $149.85, for a total transaction of $419,580.00. Following the completion of the sale, the insider now owns 43,559 shares in the company, valued at $6,527,316.15. The disclosure for this sale can be found here. Insiders sold a total of 31,000 shares of company stock worth $4,481,028 over the last quarter. 18.00% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in MHK. Marshall Wace North America L.P. acquired a new stake in shares of Mohawk Industries in the first quarter valued at approximately $85,000. Marshall Wace LLP acquired a new stake in shares of Mohawk Industries in the first quarter valued at approximately $1,475,000. Clearbridge Investments LLC raised its holdings in shares of Mohawk Industries by 1.1% in the first quarter. Clearbridge Investments LLC now owns 104,884 shares of the company’s stock valued at $13,231,000 after purchasing an additional 1,137 shares during the last quarter. Allstate Corp raised its holdings in shares of Mohawk Industries by 155.5% in the first quarter. Allstate Corp now owns 4,596 shares of the company’s stock valued at $580,000 after purchasing an additional 2,797 shares during the last quarter. Finally, Columbia Asset Management raised its holdings in shares of Mohawk Industries by 123.1% in the first quarter. Columbia Asset Management now owns 5,619 shares of the company’s stock valued at $709,000 after purchasing an additional 3,100 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.
Shares of NYSE MHK traded up $1.68 during mid-day trading on Friday, hitting $152.29. The company’s stock had a trading volume of 743,075 shares, compared to its average volume of 860,042. The firm has a market capitalization of $10.79 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 2.74 and a beta of 1.42. The company has a current ratio of 1.37, a quick ratio of 0.68 and a debt-to-equity ratio of 0.20. Mohawk Industries has a one year low of $109.35 and a one year high of $228.49.
Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, April 25th. The company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.06. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.50 billion. Mohawk Industries had a net margin of 7.73% and a return on equity of 11.36%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.01 EPS. As a group, equities research analysts anticipate that Mohawk Industries will post 10.7 earnings per share for the current fiscal year.
Mohawk Industries Company Profile
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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