Mohawk Industries (NYSE:MHK) had its target price dropped by equities researchers at Stifel Nicolaus from $290.00 to $235.00 in a research report issued to clients and investors on Friday, July 27th. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 28.89% from the company’s current price.

Several other equities analysts have also commented on the stock. Zacks Investment Research raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 target price on the stock in a report on Monday, April 16th. Credit Suisse Group set a $275.00 price target on shares of Mohawk Industries and gave the company a “buy” rating in a report on Friday, June 1st. SunTrust Banks reaffirmed a “buy” rating and set a $270.00 price target on shares of Mohawk Industries in a report on Friday, July 27th. Barclays set a $278.00 target price on shares of Mohawk Industries and gave the stock a “buy” rating in a report on Monday, April 30th. Finally, ValuEngine lowered shares of Mohawk Industries from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $254.07.

Shares of Mohawk Industries traded down $1.97, reaching $182.32, during midday trading on Friday, according to Marketbeat. The stock had a trading volume of 1,099,658 shares, compared to its average volume of 1,545,922. Mohawk Industries has a one year low of $177.00 and a one year high of $286.85. The company has a market cap of $13.75 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.74 and a quick ratio of 0.99.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Wednesday, July 25th. The company reported $3.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.90 by ($0.39). Mohawk Industries had a return on equity of 14.35% and a net margin of 9.34%. The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same quarter in the prior year, the business posted $3.72 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. analysts expect that Mohawk Industries will post 13.71 earnings per share for the current year.

In related news, Director Filip Balcaen purchased 25,000 shares of Mohawk Industries stock in a transaction that occurred on Thursday, August 9th. The stock was bought at an average price of $184.80 per share, for a total transaction of $4,620,000.00. Following the completion of the transaction, the director now owns 776 shares in the company, valued at $143,404.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bernard Thiers sold 10,000 shares of the stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $212.60, for a total transaction of $2,126,000.00. Following the transaction, the insider now owns 45,156 shares of the company’s stock, valued at approximately $9,600,165.60. The disclosure for this sale can be found here. In the last quarter, insiders bought 125,912 shares of company stock valued at $23,795,920. Company insiders own 16.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MHK. Piedmont Investment Advisors LLC purchased a new stake in Mohawk Industries in the second quarter valued at approximately $159,000. Rockefeller Capital Management L.P. purchased a new stake in Mohawk Industries in the first quarter valued at approximately $161,000. NuWave Investment Management LLC raised its stake in Mohawk Industries by 686.4% in the second quarter. NuWave Investment Management LLC now owns 810 shares of the company’s stock valued at $173,000 after purchasing an additional 707 shares in the last quarter. Cerebellum GP LLC raised its stake in Mohawk Industries by 292.6% in the second quarter. Cerebellum GP LLC now owns 844 shares of the company’s stock valued at $181,000 after purchasing an additional 629 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in Mohawk Industries in the second quarter valued at approximately $204,000. 77.52% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Mohawk Industries (NYSE:MHK)

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