Bank of America Initiates Coverage on Mohawk Industries to Neutral

Bank of America Initiates Coverage on Mohawk Industries(NYSE:MHK). The shares have been rated Neutral. The rating by Bank of America was issued on Sep 23, 2016.

In a different note, On Aug 5, 2016, UBS said it Maintains its rating on Mohawk Industries. In the research note, the firm Raises the price-target to $230.00 per share. The shares have been rated ‘Buy’ by the firm.

Mohawk Industries (MHK) made into the market gainers list on Tuesdays trading session with the shares advancing 0.16% or 0.33 points. Due to strong positive momentum, the stock ended at $202.87, which is also near the day’s high of $203.46. The stock began the session at $202.61 and the volume stood at 7,99,785 shares. The 52-week high of the shares is $216.58 and the 52 week low is $148.56. The company has a current market capitalization of $15,044 M and it has 7,41,53,400 shares in outstanding.

Mohawk Industries(MHK) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $2.31B. Analysts had an estimated revenue of $2.35B. Earnings per share were $3.47. Analysts had estimated an EPS of $3.37.

Several Insider Transactions has been reported to the SEC. On Sep 1, 2016, Rodney David Patton (VP-Business Strategy and GC) sold 1,555 shares at $212.50 per share price.Also, On Aug 15, 2016, Brian Carson (President-Flooring NA) sold 215 shares at $213.38 per share price.On Jun 8, 2016, Chistopher Wellborn (President and COO) sold 10,236 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.

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