Mohawk Industries, Inc. (MHK) Stock Price Target Moved to $255.00 at Stifel Nicolaus

Mohawk Industries, Inc. (NYSE: MHK) shares rose on Monday February 13 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, increasing the price target of stock.

Meanwhile U.S. stock-market indexes opened higher on Monday, setting intraday all-time highs shortly after market open. The S&P 500 SPX, +0.35% opened up 6 points, or 0.2%, at 2,322.

The Nasdaq Composite COMP, +0.44% began the session up 18 points, or 0.3% higher at 5,752. The Dow Jones Industrial Average DJIA, +0.51% added 64 points or 0.3%, to 20,340 at the open.

Mohawk Industries, Inc. (NYSE: MHK) had its price target boosted by equities researchers at Stifel Nicolaus from $230.00 to $255.00. The company currently has a rating of Buy on the shares. A number of other analysts have commented on the stock in recent days, and the company has earned a consensus one-year price target of $237.00, higher than the opening price of $224.41, a difference of 10.53 percent. Mohawk Industries, Inc. stock has a 52-week high of $225.53.

Shares of Mohawk Industries, Inc. (NYSE: MHK) opened at $224.41 yesterday and traded in a range between, $223.47 and $225.53, and last traded at $225.00, an increase of $2.28 over the previous closing price.

Mohawk Industries, Inc. (NYSE: MHK) currently has a market cap of 16.69B.

Mohawk Industries, Inc. (NYSE: MHK) Average Daily Trading Volume

The stock’s average daily volume is 598,476 shares out of a total float 62,052,000 and some 75,483 shares traded hands yesterday, 84 percent below the norm. lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.

As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.

Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

Professional investors such as these have teams of analysts researching thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.

Mohawk Industries, Inc. (NYSE: MHK) Moving Averages

A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.

This is because the average acts like a floor (support), so the price bounces up off of it.

In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.

By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.

Trades for Mohawk Industries, Inc. (NYSE: MHK) have ranged from $152.85 – 225.53, and the stock now has a 50-day MA of $208.71 and 200-day MA of $203.32. Today’s last price is 0.24%% lower than the 52 week high of $225.53.

Earnings growth is a crucial factor to research when buying stocks and investors identify companies that have been successful at growing their earnings by at least 25% for the past 3 years.

DISCLOSURE: The views and opinions expressed in this article do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.

Leave a Reply

Your email address will not be published. Required fields are marked *