UBS Maintains Mohawk Industries to Buy with Price Target $250.00

Brokerage firm UBS Maintains its rating on Mohawk Industries(NYSE:MHK). In a research note issued to the investors, the brokerage major Raises the price-target to $250.00 per share. The shares have been rated Buy. The rating by UBS was issued on Aug 5, 2016.

In a different note, Topeka Capital said it Initiates Coverage on Mohawk Industries, according to a research note issued on May 24, 2016. The shares have been rated ‘Hold’ by the firm.

Mohawk Industries (MHK) shares turned negative on Wednesdays trading session with the shares closing down -1.28 points or -0.61% at a volume of 4,20,202. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $209.94. The peak price level was also seen at $209.94 while the days lowest was $207.07. Finally the shares closed at $209.18. The 52-week high of the shares is $214.93 while the 52-week low is $148.56. According to the latest information available, the market cap of the company is $15,511 M.

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 Jun 8, 2016, Chistopher Wellborn (President and COO) sold 10,236 shares at $200.00 per share price.Also, 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.

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