Mohawk Industries, Inc. (MHK) Stock Rating Reaffirmed by SunTrust Banks, Inc.

SunTrust Banks, Inc. reaffirmed their buy rating on shares of Mohawk Industries, Inc. (NYSE:MHK) in a report published on Friday, October 27th. SunTrust Banks, Inc. currently has a $275.00 price target on the stock.

Other equities research analysts also recently issued reports about the company. BidaskClub downgraded Mohawk Industries from a buy rating to a hold rating in a report on Sunday, July 30th. Zacks Investment Research downgraded Mohawk Industries from a buy rating to a hold rating in a report on Wednesday, August 2nd. Instinet restated a buy rating and set a $288.00 price objective (up previously from $280.00) on shares of Mohawk Industries in a report on Saturday, September 30th. Cleveland Research downgraded Mohawk Industries from a buy rating to a neutral rating in a report on Friday, September 22nd. Finally, MKM Partners restated a buy rating and set a $286.00 price objective (up previously from $255.00) on shares of Mohawk Industries in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. Mohawk Industries presently has a consensus rating of Buy and a consensus target price of $279.15.

Mohawk Industries (NYSE:MHK) traded down $0.76 during trading hours on Friday, reaching $263.85. The company had a trading volume of 275,100 shares, compared to its average volume of 488,393. The firm has a market capitalization of $19,610.00, a price-to-earnings ratio of 19.62, a PEG ratio of 2.39 and a beta of 1.35. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.23. Mohawk Industries has a fifty-two week low of $189.44 and a fifty-two week high of $268.46.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, October 26th. The company reported $3.75 EPS for the quarter, topping the Zacks’ consensus estimate of $3.74 by $0.01. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.46 billion. Mohawk Industries had a return on equity of 16.03% and a net margin of 10.37%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.50 earnings per share. sell-side analysts anticipate that Mohawk Industries will post 13.52 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Mohawk Industries, Inc. (MHK) Stock Rating Reaffirmed by SunTrust Banks, Inc.” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark law. The original version of this news story can be read at https://ledgergazette.com/2017/11/13/mohawk-industries-inc-mhk-receives-buy-rating-from-suntrust-banks-inc.html.

In related news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $254.95, for a total transaction of $5,022,515.00. Following the sale, the chairman now directly owns 21,396 shares in the company, valued at approximately $5,454,910.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 17.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Mohawk Industries by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,184,173 shares of the company’s stock worth $1,494,654,000 after acquiring an additional 196,996 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Mohawk Industries by 8.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,029,444 shares of the company’s stock worth $1,215,567,000 after acquiring an additional 412,942 shares during the last quarter. BlackRock Inc. increased its stake in Mohawk Industries by 5.8% in the 2nd quarter. BlackRock Inc. now owns 4,575,453 shares of the company’s stock worth $1,105,842,000 after acquiring an additional 250,944 shares during the last quarter. FMR LLC increased its stake in Mohawk Industries by 3.9% in the 2nd quarter. FMR LLC now owns 2,796,757 shares of the company’s stock worth $675,948,000 after acquiring an additional 105,920 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Mohawk Industries by 0.3% in the 2nd quarter. Principal Financial Group Inc. now owns 1,211,095 shares of the company’s stock worth $292,710,000 after acquiring an additional 4,001 shares during the last quarter. Institutional investors and hedge funds own 76.19% of the company’s stock.

About Mohawk Industries

Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.

Analyst Recommendations for Mohawk Industries (NYSE:MHK)

Receive News & Ratings for Mohawk Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mohawk Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply