Mohawk Industries (NYSE:MHK – Get Free Report) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.77-1.87 for the period, compared to the consensus earnings per share estimate of $2.24. Mohawk Industries also updated its Q4 2024 guidance to 1.770-1.870 EPS.
Analyst Ratings Changes
A number of brokerages have recently commented on MHK. Royal Bank of Canada boosted their price objective on Mohawk Industries from $108.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Bank of America upgraded Mohawk Industries from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $120.00 to $177.00 in a research note on Friday, July 26th. The Goldman Sachs Group boosted their target price on Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Barclays boosted their target price on Mohawk Industries from $118.00 to $161.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. boosted their target price on Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $166.25.
View Our Latest Report on Mohawk Industries
Mohawk Industries Stock Performance
Mohawk Industries (NYSE:MHK – Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.89 by $0.01. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.71 billion. As a group, equities analysts expect that Mohawk Industries will post 9.98 earnings per share for the current year.
Insider Transactions at Mohawk Industries
In other news, insider Suzanne L. Helen sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total transaction of $102,879.00. Following the completion of the sale, the insider now owns 121,669 shares in the company, valued at $17,881,692.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Suzanne L. Helen sold 700 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total transaction of $102,879.00. Following the transaction, the insider now owns 121,669 shares of the company’s stock, valued at $17,881,692.93. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Rodney David Patton sold 755 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $162.78, for a total value of $122,898.90. Following the transaction, the vice president now directly owns 12,299 shares in the company, valued at $2,002,031.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,415 shares of company stock worth $673,387 over the last 90 days. 17.10% of the stock is currently owned by insiders.
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.
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