Mohawk Industries (MHK) is Initiated by Topeka Capital Markets to Hold, Price Target at $185

Mohawk Industries (MHK) was Initiated by Topeka Capital Markets to “Hold” and the brokerage firm has set the Price Target at $185. Topeka Capital Markets advised their investors in a research report released on May 24, 2016.

Many Wall Street Analysts have commented on Mohawk Industries. MKM Partners Initiated Mohawk Industries on Apr 12, 2016 to “Buy”, Price Target of the shares are set at $244.Company shares were Reiterated by RBC Capital Mkts on Mar 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 218 from a previous price target of $205 .Shares were Reiterated by Barclays on Feb 29, 2016 to “Overweight” and Lowered the Price Target to $ 200 from a previous price target of $201 .

On the company’s financial health, Mohawk Industries reported $2.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on May 5, 2016. Analyst had a consensus of $2.32. The company had revenue of $2172.05 million for the quarter, compared to analysts expectations of $2098.37 million. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.70 EPS.

Mohawk Industries opened for trading at $192.54 and hit $194.93 on the upside on Friday, eventually ending the session at $193.08, with a gain of 1.00% or 1.91 points. The heightened volatility saw the trading volume jump to 3,95,449 shares. Company has a market cap of $14,306 M.

In a different news, on May 16, 2016, John C Jr Turner (President-Ceramic NA) sold 1,511 shares at $195.79 per share price. According to the SEC, on May 12, 2016, Frank H Boykin (CFO) sold 3,133 shares at $200.00 per share price. On May 11, 2016, Bernard Thiers (President-Flooring Eur and ROW) sold 14,000 shares at $198.80 per share price, according to the Form-4 filing with the securities and exchange commission.

Mohawk Industries Inc. is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company operates in three segments: the Carpet segment the Ceramic segment and the Laminate and Wood segment. The Carpet segment designs manufactures sources distributes and markets its carpet and rug product lines in a range of colors textures and patterns for residential and commercial applications. The Ceramic segment designs manufactures sources distributes and markets a line of ceramic tile porcelain tile and natural stone products. The Laminate and Wood segment designs manufactures sources licenses distributes and markets laminate and hardwood flooring. Its manufacturing and distribution processes provide carpet rugs ceramic tile laminate wood stone and vinyl flooring. Its brands include American Olean Bigelow Daltile Durkan Karastan Kerama Marazzi Lees Marazzi Mohawk Pergo Quick-Step and Unilin.

Mohawk Industries

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