Mohawk Industries (MHK) Coverage Initiated at Jefferies Group

Analysts at Jefferies Group began coverage on shares of Mohawk Industries (NYSE:MHK) in a research note issued to investors on Tuesday. The brokerage set a “buy” rating on the stock.

Several other research firms have also recently weighed in on MHK. ValuEngine raised Mohawk Industries from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $300.00 target price (up from $291.00) on shares of Mohawk Industries in a report on Monday, October 30th. Cleveland Research cut Mohawk Industries from a “buy” rating to a “neutral” rating in a report on Friday, September 22nd. J P Morgan Chase & Co raised their target price on Mohawk Industries from $250.00 to $285.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Finally, Zacks Investment Research cut Mohawk Industries from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $281.42.

Mohawk Industries (NYSE:MHK) opened at $277.37 on Tuesday. The firm has a market capitalization of $20,851.97, a price-to-earnings ratio of 20.86, a PEG ratio of 2.54 and a beta of 1.37. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.77 and a current ratio of 1.48. Mohawk Industries has a twelve month low of $196.50 and a twelve month high of $286.85.

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

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Mohawk Industries by 3.3% during the second quarter. Vanguard Group Inc. now owns 6,184,173 shares of the company’s stock valued at $1,494,654,000 after acquiring an additional 196,996 shares during the period. JPMorgan Chase & Co. grew its position in shares of Mohawk Industries by 8.9% during the second quarter. JPMorgan Chase & Co. now owns 5,029,444 shares of the company’s stock valued at $1,215,567,000 after purchasing an additional 412,942 shares in the last quarter. BlackRock Inc. grew its position in shares of Mohawk Industries by 5.8% during the second quarter. BlackRock Inc. now owns 4,575,453 shares of the company’s stock valued at $1,105,842,000 after purchasing an additional 250,944 shares in the last quarter. FMR LLC grew its position in shares of Mohawk Industries by 3.9% during the second quarter. FMR LLC now owns 2,796,757 shares of the company’s stock valued at $675,948,000 after purchasing an additional 105,920 shares in the last quarter. Finally, Ruane Cunniff & Goldfarb Inc. grew its position in shares of Mohawk Industries by 4.9% during the third quarter. Ruane Cunniff & Goldfarb Inc. now owns 1,377,558 shares of the company’s stock valued at $340,959,000 after purchasing an additional 64,707 shares in the last quarter. 76.59% of the stock is currently owned by institutional investors and hedge funds.

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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)

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