Research Analysts’ Weekly Ratings Updates for Mohawk Industries (MHK)

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Mohawk Industries (NYSE: MHK) recently received a number of ratings updates from brokerages and research firms:

  • 5/15/2019 – Mohawk Industries was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 5/15/2019 – Mohawk Industries was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating. They now have a $180.00 price target on the stock, up previously from $135.00.
  • 5/14/2019 – Mohawk Industries was given a new $130.00 price target on by analysts at Loop Capital. They now have a “hold” rating on the stock.
  • 5/2/2019 – Mohawk Industries was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Mohawk’s first-quarter 2019 earnings surpassed the Zacks Consensus Estimate by 2.9%, while revenues missed the same by 2%. On a year-over-year basis, although its top line grew 1.3%, the bottom line declined 29.2%. The decline was mainly due to higher costs, a stronger dollar, soft market conditions in most of the regions served by the company and unfavorable product mix. Also, uneven demand added to the woes. Meanwhile, although shares of Mohawk have outperformed its industry over the past year, estimates have moved south over the past seven days. Nonetheless, to combat these headwinds, it has reduced the production rates to balance the inventory level with customers’ demand. Going forward, it expects to boost prices, replace high-cost assets, enhance manufacturing processes and reduce overhead expenses.”
  • 4/30/2019 – Mohawk Industries was upgraded by analysts at Jefferies Financial Group Inc from a “hold” rating to a “buy” rating. They now have a $167.00 price target on the stock, up previously from $145.00.
  • 4/24/2019 – Mohawk Industries was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Input cost inflation, higher transportation expenses and increased start-up costs have been a cause of concern for Mohawk. Again, slowing macro outlook in North America, uncertainties around U.S. housing, coupled with macro trends in Europe and Australia added to the woes. The company has a cautious stance for 2019, given slowing market conditions and oil volatility that is making its expenses unpredictable. Meanwhile, shares of Mohawk have declined over the past year. Earnings estimates for 2019 have also moved south over the past seven days, limiting upside potential for the stock. Nonetheless, Mohawk is trying hard to offset the negatives by increasing prices, expanding in growing channels, introducing new products and foraying into geographies.”
  • 4/22/2019 – Mohawk Industries was given a new $156.00 price target on by analysts at Robert W. Baird. They now have a “buy” rating on the stock.
  • 4/15/2019 – Mohawk Industries was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Input cost inflation, higher transportation expenses and increased start-up costs have been a cause of concern for Mohawk. Again, slowing macro outlook in North America, uncertainties around U.S. housing, coupled with macro trends in Europe and Australia added to the woes. The company has a cautious stance for 2019, given slowing market conditions and oil volatility that is making its expenses unpredictable. Estimates for 2019 have displayed a downward trend. Meanwhile, shares of Mohawk have declined 44.8% over the past year. Earnings estimates for 2019 have remain unchanged over the past 60 days, limiting upside potential for the stock. Although Mohawk is trying hard to offset the negatives by increasing prices, expanding in growing channels, introducing new products and foraying into geographies, we wait for a better visibility.”
  • 4/8/2019 – Mohawk Industries was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Shares of Mohawk have outperformed its industry over the past year, given its leadership position in flooring, continued modest growth and accretive buyouts. The company is increasing prices, expanding in growing channels, introducing new products and foraying into geographies. The company holds a dominant market share in the hugely fragmented and competitive industry. However, input cost inflation, higher transportation expenses and increased start-up costs have been a cause of concern for Mohawk. Again, slowing macro outlook in North America, uncertainties around U.S. housing, coupled with macro trends in Europe and Australia added to the woes. The company has a cautious stance for 2019, given slowing market conditions and oil volatility that is making its expenses unpredictable. Estimates for 2019 and 2020 have displayed a downward trend over the past 60 days.”
  • 3/29/2019 – Mohawk Industries was downgraded by analysts at Longbow Research from a “buy” rating to a “neutral” rating. They now have a $125.98 price target on the stock.
  • 3/29/2019 – Mohawk Industries was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Shares of Mohawk have outperformed its industry over the past year, given its leadership position in flooring, continued modest growth and accretive buyouts. The company is increasing prices, expanding in growing channels, introducing new products and foraying into geographies. The company holds a dominant market share in the hugely fragmented and competitive industry. However, input cost inflation, higher transportation expenses and increased start-up costs have been a cause of concern for Mohawk. Again, slowing macro outlook in North America, uncertainties around U.S. housing, coupled with macro trends in Europe and Australia added to the woes. The company has a cautious stance for 2019, given slowing market conditions and oil volatility that is making its expenses unpredictable. Estimates for 2019 and 2020 have displayed a downward trend over the past 60 days.”
  • 3/22/2019 – Mohawk Industries was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Input cost inflation, higher transportation expenses and increased start-up costs have been a cause of concern for Mohawk. Again, slowing macro outlook in North America, uncertainties around U.S. housing, coupled with macro trends in Europe and Australia added to the woes. The company has a cautious stance for 2019, given slowing market conditions and oil volatility that is making its expenses unpredictable. Estimates for 2019 and 2020 have displayed a downward trend over the past 30 days. Meanwhile, shares of Mohawk have gained over the past three months, given its leadership position in flooring, continued modest growth and accretive buyouts. Mohawk is trying hard to offset the negatives by increasing prices, expanding in growing channels, introducing new products and foraying into geographies.”

MHK traded down $1.62 on Friday, reaching $138.69. The company’s stock had a trading volume of 635,069 shares, compared to its average volume of 883,966. The company has a market capitalization of $9.85 billion, a P/E ratio of 11.25, a P/E/G ratio of 2.45 and a beta of 1.53. Mohawk Industries, Inc. has a 1 year low of $109.35 and a 1 year high of $228.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.68 and a current ratio of 1.37.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, April 25th. The company reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.06. Mohawk Industries had a return on equity of 11.36% and a net margin of 7.73%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the business posted $3.01 EPS. Mohawk Industries’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts forecast that Mohawk Industries, Inc. will post 10.77 earnings per share for the current fiscal year.

In other news, VP Rodney David Patton sold 2,260 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $133.50, for a total transaction of $301,710.00. Following the sale, the vice president now directly owns 9,134 shares in the company, valued at approximately $1,219,389. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 18.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Lavaca Capital LLC acquired a new stake in shares of Mohawk Industries during the 1st quarter worth approximately $25,000. Penserra Capital Management LLC acquired a new stake in shares of Mohawk Industries during the 1st quarter worth approximately $25,000. CSat Investment Advisory L.P. raised its position in shares of Mohawk Industries by 222.0% during the 4th quarter. CSat Investment Advisory L.P. now owns 293 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares during the period. Lindbrook Capital LLC acquired a new stake in shares of Mohawk Industries during the 4th quarter worth approximately $34,000. Finally, Massey Quick Simon & CO. LLC acquired a new stake in shares of Mohawk Industries during the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 81.58% of the company’s stock.

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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