Royal Bank Of Canada Reaffirms Sector Perform Rating for Mohawk Industries (NYSE:MHK)

Key Points

• Royal Bank of Canada has raised the target price for Mohawk Industries' stock from $119.00 to $123.00, indicating a potential upside of 1.94% from its current price.
• A variety of analysts have given Mohawk Industries different ratings, with an average consensus rating of "Moderate Buy" and a target price of $140.07.
• Mohawk Industries reported $2.77 earnings per share for the last quarter, surpassing analysts' expectations and reflecting a 0.0% year-over-year revenue increase.

Mohawk Industries (NYSE:MHK - Get Free Report)'s stock had its "sector perform" rating reaffirmed by equities researchers at Royal Bank Of Canada in a research report issued to clients and investors on Monday, Marketbeat.com reports. They presently have a $123.00 price target on the stock, up from their prior price target of $119.00. Royal Bank Of Canada's target price would suggest a potential upside of 2.35% from the company's current price.

A number of other brokerages have also issued reports on MHK. Barclays boosted their price objective on Mohawk Industries from $111.00 to $125.00 and gave the company an "equal weight" rating in a report on Monday. Robert W. Baird lifted their target price on Mohawk Industries from $130.00 to $142.00 and gave the company an "outperform" rating in a research note on Monday. Evercore ISI reduced their price target on Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating on the stock in a research report on Monday. Wells Fargo & Company lifted their target price on shares of Mohawk Industries from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen downgraded Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Mohawk Industries currently has an average rating of "Moderate Buy" and a consensus target price of $140.07.

Mohawk Industries Trading Down 0.6%

Shares of NYSE MHK opened at $120.18 on Monday. The stock has a market capitalization of $7.51 billion, a P/E ratio of 15.98, a PEG ratio of 4.47 and a beta of 1.18. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.13 and a quick ratio of 1.18. The business's 50 day moving average is $106.26 and its two-hundred day moving average is $111.35. Mohawk Industries has a 1-year low of $96.24 and a 1-year high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.62 by $0.15. Mohawk Industries had a net margin of 4.44% and a return on equity of 7.30%. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same period in the previous year, the firm earned $3.00 earnings per share. Mohawk Industries's quarterly revenue was up .0% compared to the same quarter last year. As a group, research analysts expect that Mohawk Industries will post 9.8 EPS for the current year.

Institutional Trading of Mohawk Industries

A number of institutional investors have recently modified their holdings of MHK. JPMorgan Chase & Co. raised its position in shares of Mohawk Industries by 12.8% in the 1st quarter. JPMorgan Chase & Co. now owns 3,626,004 shares of the company's stock valued at $414,017,000 after purchasing an additional 410,388 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Mohawk Industries by 7.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,964,190 shares of the company's stock valued at $338,444,000 after purchasing an additional 213,429 shares during the period. Invesco Ltd. lifted its stake in shares of Mohawk Industries by 5.6% in the 1st quarter. Invesco Ltd. now owns 1,821,951 shares of the company's stock worth $208,030,000 after acquiring an additional 96,568 shares during the period. Ariel Investments LLC boosted its stake in Mohawk Industries by 3.4% during the first quarter. Ariel Investments LLC now owns 1,743,574 shares of the company's stock valued at $199,081,000 after buying an additional 57,391 shares in the last quarter. Finally, Select Equity Group L.P. grew its position in Mohawk Industries by 3.4% in the first quarter. Select Equity Group L.P. now owns 1,547,651 shares of the company's stock worth $176,711,000 after buying an additional 50,232 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company's stock.

Mohawk Industries Company Profile

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.