Does Mohawk Industries (NYSE:MHK) Look Attractive Now? Northcoast Research Initiates Coverage

December 6, 2017 - By Vivian Park

 Does Mohawk Industries (NYSE:MHK) Look Attractive Now? Northcoast Research Initiates Coverage

Investors sentiment decreased to 1.09 in 2017 Q2. Its down 0.15, from 1.24 in 2017Q1. It is negative, as 41 investors sold Mohawk Industries, Inc. shares while 164 reduced holdings. 58 funds opened positions while 165 raised stakes. 55.83 million shares or 0.31% more from 55.66 million shares in 2017Q1 were reported.

Ngam Advsr Ltd Partnership invested in 28,107 shares. Bb&T Corp holds 1,577 shares or 0.01% of its portfolio. Retail Bank accumulated 2,918 shares. 189,656 were accumulated by Hahn Capital Mngmt Ltd Liability Corporation. Suvretta Capital Ltd Limited Liability Company, a New York-based fund reported 252,718 shares. Conning stated it has 0.01% of its portfolio in Mohawk Industries, Inc. (NYSE:MHK). Moreover, Fdx has 0.04% invested in Mohawk Industries, Inc. (NYSE:MHK). Da Davidson reported 0% of its portfolio in Mohawk Industries, Inc. (NYSE:MHK). Aberdeen Asset Management Public Lc Uk holds 15,303 shares. Price T Rowe Assocs Md has invested 0.01% in Mohawk Industries, Inc. (NYSE:MHK). Umb Financial Bank N A Mo holds 0.02% of its portfolio in Mohawk Industries, Inc. (NYSE:MHK) for 2,045 shares. Fortaleza Asset invested 1.11% of its portfolio in Mohawk Industries, Inc. (NYSE:MHK). 38,479 are owned by Teachers Retirement Of The State Of Kentucky. Sumitomo Life Insurance has invested 0.22% in Mohawk Industries, Inc. (NYSE:MHK). Tci Wealth, a Arizona-based fund reported 63 shares.

Since June 9, 2017, it had 0 buys, and 2 insider sales for $331,924 activity. On Friday, June 9 HELEN SUZANNE L sold $1.49 million worth of Mohawk Industries, Inc. (NYSE:MHK) or 6,200 shares. $238,270 worth of Mohawk Industries, Inc. (NYSE:MHK) shares were sold by De Cock Frans Georges.

Why Has Northcoast Research Given Mohawk Industries (NYSE:MHK) a $295.0 Price Target

Northcoast Research has just issued a Buy rating for Mohawk Industries (NYSE:MHK) shares. The firm initiated coverage on shares of MHK in a report sent to investors on Thursday, 5 October. This PT indicates upside of 5.80 % from the current price of Mohawk Industries (NYSE:MHK).

Investors sentiment decreased to 1.09 in 2017 Q2. Its down 0.15, from 1.24 in 2017Q1. It is negative, as 41 investors sold Mohawk Industries, Inc. shares while 164 reduced holdings. 58 funds opened positions while 165 raised stakes. 55.83 million shares or 0.31% more from 55.66 million shares in 2017Q1 were reported.

Ngam Advsr Ltd Partnership invested in 28,107 shares. Bb&T Corp holds 1,577 shares or 0.01% of its portfolio. Retail Bank accumulated 2,918 shares. 189,656 were accumulated by Hahn Capital Mngmt Ltd Liability Corporation. Suvretta Capital Ltd Limited Liability Company, a New York-based fund reported 252,718 shares. Conning stated it has 0.01% of its portfolio in Mohawk Industries, Inc. (NYSE:MHK). Moreover, Fdx has 0.04% invested in Mohawk Industries, Inc. (NYSE:MHK). Da Davidson reported 0% of its portfolio in Mohawk Industries, Inc. (NYSE:MHK). Aberdeen Asset Management Public Lc Uk holds 15,303 shares. Price T Rowe Assocs Md has invested 0.01% in Mohawk Industries, Inc. (NYSE:MHK). Umb Financial Bank N A Mo holds 0.02% of its portfolio in Mohawk Industries, Inc. (NYSE:MHK) for 2,045 shares. Fortaleza Asset invested 1.11% of its portfolio in Mohawk Industries, Inc. (NYSE:MHK). 38,479 are owned by Teachers Retirement Of The State Of Kentucky. Sumitomo Life Insurance has invested 0.22% in Mohawk Industries, Inc. (NYSE:MHK). Tci Wealth, a Arizona-based fund reported 63 shares.

Since June 9, 2017, it had 0 buys, and 2 insider sales for $331,924 activity. On Friday, June 9 HELEN SUZANNE L sold $1.49 million worth of Mohawk Industries, Inc. (NYSE:MHK) or 6,200 shares. $238,270 worth of Mohawk Industries, Inc. (NYSE:MHK) shares were sold by De Cock Frans Georges.

Mohawk Industries, Inc. (NYSE:MHK) Ratings Coverage

Among 17 analysts covering Mohawk (NYSE:MHK), 14 have Buy rating, 0 Sell and 3 Hold. Therefore 82% are positive. Mohawk has $310.0 highest and $185 lowest target. $266.93’s average target is -4.26% below currents $278.82 stock price. Mohawk had 42 analyst reports since August 10, 2015 according to SRatingsIntel. The rating was maintained by Barclays Capital on Tuesday, October 13 with “Outperform”. The stock has “Buy” rating by Goldman Sachs on Tuesday, October 6. The firm has “Buy” rating by RBC Capital Markets given on Tuesday, November 14. The company was maintained on Wednesday, September 6 by RBC Capital Markets. On Monday, July 31 the stock rating was maintained by RBC Capital Markets with “Buy”. As per Monday, November 9, the company rating was maintained by RBC Capital Markets. RBC Capital Markets maintained Mohawk Industries, Inc. (NYSE:MHK) rating on Monday, July 24. RBC Capital Markets has “Buy” rating and $26700 target. Barclays Capital maintained the shares of MHK in report on Thursday, April 7 with “Overweight” rating. The firm has “Buy” rating by Stifel Nicolaus given on Friday, July 28. Robert W. Baird initiated the stock with “Outperform” rating in Tuesday, November 3 report.

The stock decreased 0.87% or $2.44 during the last trading session, reaching $278.82. About 150,228 shares traded. Mohawk Industries, Inc. (NYSE:MHK) has risen 20.32% since December 6, 2016 and is uptrending. It has outperformed by 3.62% the S&P500.

Analysts await Mohawk Industries, Inc. (NYSE:MHK) to report earnings on February, 8. They expect $3.33 EPS, up 2.15 % or $0.07 from last year’s $3.26 per share. MHK’s profit will be $247.55 million for 20.93 P/E if the $3.33 EPS becomes a reality. After $3.75 actual EPS reported by Mohawk Industries, Inc. for the previous quarter, Wall Street now forecasts -11.20 % negative EPS growth.

Mohawk Industries, Inc. designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. The company has market cap of $20.73 billion. It operates through three divisions: Global Ceramic, Flooring North America , and Flooring Rest of the World (Flooring ROW). It has a 5.59 P/E ratio. The Global Ceramic segment provides a range of ceramic tile, porcelain tile, and natural stone products; and sources, markets, and distributes other tile related products.

More important recent Mohawk Industries, Inc. (NYSE:MHK) news were published by: Timesfreepress.com which released: “Mohawk Industries to buy Australia’s biggest carpet company” on November 20, 2017, also Prnewswire.com published article titled: “Mohawk Industries, Inc. anuncia la adquisición del Grupo Godfrey Hirst”, Nasdaq.com published: “Mohawk Industries Gains on Acquisitions, Competition Rife” on November 28, 2017. More interesting news about Mohawk Industries, Inc. (NYSE:MHK) was released by: Prnewswire.com and their article: “Mohawk Industries, Inc. anuncia la compra de Godfrey Hirst Group” with publication date: November 21, 2017.

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