Mohawk Industries (MHK) Stock Rating Upgraded by Stifel Nicolaus

Mohawk Industries (NYSE:MHK) was upgraded by stock analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a report issued on Wednesday, The Fly reports.

Several other equities research analysts have also recently weighed in on the company. Loop Capital set a $130.00 target price on Mohawk Industries and gave the company a “hold” rating in a report on Tuesday. Zacks Investment Research upgraded Mohawk Industries from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Jefferies Financial Group upgraded Mohawk Industries from a “hold” rating to a “buy” rating and increased their price objective for the stock from $145.00 to $167.00 in a report on Tuesday, April 30th. Robert W. Baird set a $156.00 price objective on Mohawk Industries and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, Longbow Research cut Mohawk Industries from a “buy” rating to a “neutral” rating and set a $125.98 price objective for the company. in a report on Friday, March 29th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $152.76.

MHK stock traded up $1.76 during trading on Wednesday, hitting $135.97. 536,488 shares of the company traded hands, compared to its average volume of 882,362. The stock has a market capitalization of $9.50 billion, a PE ratio of 11.03, a P/E/G ratio of 2.37 and a beta of 1.53. Mohawk Industries has a 1 year low of $109.35 and a 1 year high of $228.49. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.37 and a quick ratio of 0.68.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, April 25th. The company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.06. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Mohawk Industries had a return on equity of 11.36% and a net margin of 7.73%. Mohawk Industries’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.01 EPS. Analysts anticipate that Mohawk Industries will post 10.77 EPS for the current year.

In other news, VP Rodney David Patton sold 2,260 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $133.50, for a total value of $301,710.00. Following the completion of the transaction, the vice president now owns 9,134 shares of the company’s stock, valued at approximately $1,219,389. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 18.00% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in MHK. Pzena Investment Management LLC bought a new position in shares of Mohawk Industries in the 1st quarter worth approximately $172,158,000. Fir Tree Capital Management LP bought a new position in shares of Mohawk Industries in the 4th quarter worth approximately $122,785,000. Brandywine Global Investment Management LLC bought a new position in shares of Mohawk Industries in the 4th quarter worth approximately $77,608,000. Norges Bank bought a new position in shares of Mohawk Industries in the 4th quarter worth approximately $68,819,000. Finally, Impala Asset Management LLC raised its position in shares of Mohawk Industries by 138.1% in the 1st quarter. Impala Asset Management LLC now owns 885,310 shares of the company’s stock worth $111,682,000 after acquiring an additional 513,503 shares in the last quarter. 81.58% of the stock is owned by hedge funds and other institutional investors.

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).

Further Reading: Asset Allocation, Balancing Your Investments

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Analyst Recommendations for Mohawk Industries (NYSE:MHK)

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