Raymond James Reiterates “Buy” Rating for Mohawk Industries (NYSE:MHK)

Mohawk Industries (NYSE:MHK)‘s stock had its “buy” rating reaffirmed by equities researchers at Raymond James in a research report issued to clients and investors on Wednesday, TipRanks reports. They currently have a $140.00 price target on the stock. Raymond James’ price objective suggests a potential upside of 70.13% from the stock’s current price.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. upgraded Mohawk Industries from an “underweight” rating to a “neutral” rating and set a $136.00 price target for the company in a report on Thursday, January 16th. ValuEngine upgraded Mohawk Industries from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Deutsche Bank decreased their price target on Mohawk Industries from $149.00 to $85.00 and set a “hold” rating for the company in a report on Wednesday. Wells Fargo & Co increased their price target on Mohawk Industries from $110.00 to $125.00 and gave the stock an “underweight” rating in a report on Tuesday, February 18th. Finally, Evercore ISI initiated coverage on Mohawk Industries in a report on Friday, February 14th. They set a “hold” rating and a $144.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. Mohawk Industries currently has a consensus rating of “Hold” and a consensus price target of $141.40.

NYSE MHK opened at $82.29 on Wednesday. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 1.47 and a beta of 1.27. Mohawk Industries has a twelve month low of $56.62 and a twelve month high of $156.60. The stock has a fifty day simple moving average of $113.09 and a 200 day simple moving average of $128.64. The company has a quick ratio of 0.79, a current ratio of 1.63 and a debt-to-equity ratio of 0.21.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, February 13th. The company reported $2.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.05. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.42 billion. Mohawk Industries had a return on equity of 9.27% and a net margin of 7.46%. Mohawk Industries’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.53 earnings per share. Research analysts expect that Mohawk Industries will post 9.98 earnings per share for the current fiscal year.

In related news, Director Filip Balcaen acquired 52,000 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were bought at an average price of $109.37 per share, with a total value of $5,687,240.00. Following the transaction, the director now directly owns 2,174 shares of the company’s stock, valued at $237,770.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 18.00% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Mohawk Industries by 1.0% during the 4th quarter. FMR LLC now owns 3,352,115 shares of the company’s stock worth $457,163,000 after purchasing an additional 32,312 shares in the last quarter. Boston Partners bought a new position in shares of Mohawk Industries during the 4th quarter worth about $415,733,000. State Street Corp boosted its position in shares of Mohawk Industries by 1.4% during the 3rd quarter. State Street Corp now owns 2,851,554 shares of the company’s stock worth $353,792,000 after purchasing an additional 39,921 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of Mohawk Industries by 6.9% during the 4th quarter. Pzena Investment Management LLC now owns 2,034,926 shares of the company’s stock worth $277,523,000 after purchasing an additional 131,899 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Mohawk Industries by 2.6% during the 4th quarter. UBS Asset Management Americas Inc. now owns 1,167,828 shares of the company’s stock worth $159,268,000 after purchasing an additional 29,560 shares in the last quarter. 79.71% of the stock is currently owned by 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).

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Analyst Recommendations for Mohawk Industries (NYSE:MHK)

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