Stifel Nicolaus Reiterates “$145.00” Price Target for Mohawk Industries (NYSE:MHK)

Stifel Nicolaus set a $145.00 target price on Mohawk Industries (NYSE:MHK) in a report released on Friday morning, TipRanks reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. Jefferies Financial Group upgraded shares of Mohawk Industries from a hold rating to a buy rating and upped their price objective for the stock from $145.00 to $167.00 in a research report on Tuesday, April 30th. Zacks Investment Research cut shares of Mohawk Industries from a hold rating to a sell rating and set a $131.00 price objective for the company. in a research report on Thursday, August 1st. Robert W. Baird set a $156.00 price objective on shares of Mohawk Industries and gave the stock a buy rating in a research report on Monday, April 22nd. ValuEngine upgraded shares of Mohawk Industries from a strong sell rating to a sell rating in a research report on Wednesday, May 15th. Finally, National Securities began coverage on shares of Mohawk Industries in a research report on Thursday, July 11th. They set a buy rating for the company. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $141.41.

Shares of Mohawk Industries stock traded up $2.73 on Friday, reaching $114.07. The stock had a trading volume of 913,506 shares, compared to its average volume of 847,707. The company has a 50 day moving average price of $137.35 and a 200 day moving average price of $136.39. The company has a quick ratio of 0.66, a current ratio of 1.30 and a debt-to-equity ratio of 0.18. Mohawk Industries has a 1 year low of $108.93 and a 1 year high of $196.30. The stock has a market capitalization of $7.97 billion, a P/E ratio of 9.25, a P/E/G ratio of 2.18 and a beta of 1.38.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, July 25th. The company reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $0.02. Mohawk Industries had a net margin of 7.79% and a return on equity of 10.50%. The firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the previous year, the business posted $3.51 EPS. The business’s revenue was up .3% compared to the same quarter last year. On average, analysts forecast that Mohawk Industries will post 9.96 earnings per share for the current fiscal year.

In other news, insider Suzanne L. Helen sold 4,200 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $148.04, for a total transaction of $621,768.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce Bruckmann bought 2,000 shares of Mohawk Industries stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $117.69 per share, for a total transaction of $235,380.00. Following the acquisition, the director now owns 286,691 shares of the company’s stock, valued at $33,740,663.79. The disclosure for this purchase can be found here. Insiders sold 31,000 shares of company stock valued at $4,481,028 in the last three months. 18.00% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Prudential PLC purchased a new position in Mohawk Industries in the 2nd quarter valued at $1,932,000. Royal Bank of Canada grew its position in Mohawk Industries by 11.5% in the 2nd quarter. Royal Bank of Canada now owns 304,399 shares of the company’s stock valued at $44,890,000 after buying an additional 31,411 shares during the last quarter. Columbia Asset Management grew its position in Mohawk Industries by 44.9% in the 2nd quarter. Columbia Asset Management now owns 8,144 shares of the company’s stock valued at $1,201,000 after buying an additional 2,525 shares during the last quarter. DF Dent & Co. Inc. purchased a new position in Mohawk Industries in the 2nd quarter valued at $1,555,000. Finally, HM Payson & Co. purchased a new position in Mohawk Industries in the 2nd quarter valued at $36,000. Institutional investors own 85.58% of the company’s stock.

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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