ValuEngine upgraded shares of Mohawk Industries (NYSE:MHK) from a hold rating to a buy rating in a research note published on Wednesday.

A number of other brokerages have also issued reports on MHK. Zacks Investment Research lowered Mohawk Industries from a buy rating to a hold rating in a research note on Friday, February 2nd. Royal Bank of Canada reissued an outperform rating and issued a $300.00 price target (up from $291.00) on shares of Mohawk Industries in a research note on Monday, October 30th. JPMorgan Chase & Co. raised their price target on Mohawk Industries from $250.00 to $285.00 and gave the stock a neutral rating in a research note on Monday, October 30th. Nomura set a $300.00 price target on Mohawk Industries and gave the stock a buy rating in a research note on Friday, October 27th. Finally, SunTrust Banks reissued a buy rating and issued a $275.00 price target on shares of Mohawk Industries in a research note on Friday, October 27th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $295.25.

Shares of Mohawk Industries (MHK) opened at $249.46 on Wednesday. The company has a market capitalization of $19,068.29, a PE ratio of 19.22, a P/E/G ratio of 2.10 and a beta of 1.26. Mohawk Industries has a 52-week low of $209.90 and a 52-week high of $286.85. 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 (NYSE:MHK) last posted its quarterly earnings data on Thursday, February 8th. The company reported $3.42 EPS for the quarter, topping analysts’ consensus estimates of $3.32 by $0.10. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Mohawk Industries had a return on equity of 15.82% and a net margin of 10.24%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.26 EPS. analysts expect that Mohawk Industries will post 14.98 earnings per share for the current year.

A number of large investors have recently modified their holdings of the business. NuWave Investment Management LLC acquired a new position in shares of Mohawk Industries in the 4th quarter valued at about $117,000. Cerebellum GP LLC acquired a new position in shares of Mohawk Industries in the 4th quarter valued at about $124,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Mohawk Industries in the 4th quarter valued at about $124,000. Calton & Associates Inc. acquired a new position in shares of Mohawk Industries in the 4th quarter valued at about $171,000. Finally, Tower Research Capital LLC TRC acquired a new position in shares of Mohawk Industries in the 4th quarter valued at about $174,000. 76.63% of the stock is currently owned by hedge funds and other institutional investors.

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Mohawk Industries Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Mohawk Industries (NYSE:MHK)

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