Mohawk Industries (NYSE:MHK) Receives New Coverage from Analysts at National Securities

National Securities initiated coverage on shares of Mohawk Industries (NYSE:MHK) in a report issued on Thursday, AnalystRatings.com reports. The firm issued a buy rating on the stock.

MHK has been the topic of a number of other research reports. ValuEngine upgraded shares of Vermillion from a hold rating to a buy rating in a report on Wednesday, May 15th. Loop Capital boosted their target price on shares of Walt Disney to $165.00 and gave the company a buy rating in a report on Friday, June 14th. Stifel Nicolaus upgraded shares of Mohawk Industries from a hold rating to a buy rating and boosted their target price for the company from $135.00 to $180.00 in a report on Wednesday, May 15th. Longbow Research started coverage on shares of H&E Equipment Services in a report on Friday, March 29th. They set a buy rating and a $34.00 target price on the stock. Finally, Jefferies Financial Group dropped their target price on shares of CommVault Systems to $65.00 and set a buy rating on the stock in a report on Tuesday, April 30th. They noted that the move was a valuation call. Five analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Mohawk Industries presently has an average rating of Hold and an average target price of $150.41.

NYSE:MHK opened at $151.13 on Thursday. The company has a market capitalization of $10.95 billion, a PE ratio of 12.26, a P/E/G ratio of 2.77 and a beta of 1.42. The firm has a fifty day moving average of $146.77. Mohawk Industries has a twelve month low of $109.35 and a twelve month high of $225.66. 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 (NYSE:MHK) last released its quarterly 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 business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Mohawk Industries had a net margin of 7.73% and a return on equity of 11.36%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.01 earnings per share. Analysts predict that Mohawk Industries will post 10.7 earnings per share for the current fiscal year.

In other Mohawk Industries news, Chairman Jeffrey S. Lorberbaum sold 18,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $142.76, for a total value of $2,569,680.00. Following the completion of the transaction, the chairman now owns 47,603 shares of the company’s stock, valued at approximately $6,795,804.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bernard Thiers sold 2,800 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $149.85, for a total value of $419,580.00. Following the completion of the transaction, the insider now directly owns 43,559 shares of the company’s stock, valued at approximately $6,527,316.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,000 shares of company stock worth $4,481,028. 18.00% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the business. Lavaca Capital LLC purchased a new position in Mohawk Industries in the 1st quarter worth about $25,000. Penserra Capital Management LLC purchased a new stake in shares of Mohawk Industries during the 1st quarter valued at about $25,000. CSat Investment Advisory L.P. increased its position in shares of Mohawk Industries by 222.0% during the 4th quarter. CSat Investment Advisory L.P. now owns 293 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares during the last quarter. Massey Quick Simon & CO. LLC purchased a new stake in shares of Mohawk Industries during the 1st quarter valued at about $38,000. Finally, North Star Investment Management Corp. purchased a new stake in shares of Mohawk Industries during the 1st quarter valued at about $50,000. 80.68% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Mohawk Industries (NYSE:MHK)

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