Mohawk Industries (MHK) is Reiterated by MKM Partners to Buy, Raises Price Target to $ 246

Mohawk Industries (MHK) was Reiterated by MKM Partners to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 246 from a previous price target of $244 . MKM Partners advised their investors in a research report released on Aug 8, 2016.

Many Wall Street Analysts have commented on Mohawk Industries. Company shares were Reiterated by RBC Capital Mkts on Aug 8, 2016 to “Outperform”, Firm has raised the Price Target to $ 245 from a previous price target of $220 .Topeka Capital Markets Initiated Mohawk Industries on May 24, 2016 to “Hold”, Price Target of the shares are set at $185.

On the company’s financial health, Mohawk Industries reported $3.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $3.37. The company had revenue of $2310.00 million for the quarter, compared to analysts expectations of $2350.69 million. The company’s revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.69 EPS.

Mohawk Industries opened for trading at $211.11 and hit $214.05 on the upside on Friday, eventually ending the session at $214.02, with a gain of 3.04% or 6.32 points. The heightened volatility saw the trading volume jump to 12,02,165 shares. Company has a market cap of $15,857 M.

In a different news, on Jun 8, 2016, Chistopher Wellborn (President and COO) sold 10,236 shares at $200.00 per share price. According to the SEC, on May 16, 2016, John C Jr Turner (President-Ceramic NA) sold 1,511 shares at $195.79 per share price. On May 12, 2016, Frank H Boykin (CFO) sold 3,133 shares at $200.00 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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