Price Don’t Lie: Time to Buy Mohawk Industries, Inc. After Today’s Significant Increase?

Price Don't Lie: Time to Buy Mohawk Industries, Inc. After Today's Significant Increase?

The stock of Mohawk Industries, Inc. (NYSE:MHK) is a huge mover today! About 1.18 million shares traded hands or 81.25% up from the average. Mohawk Industries, Inc. (NYSE:MHK) has declined 6.80% since April 4, 2016 and is downtrending. It has underperformed by 7.89% the S&P500.
The move comes after 9 months positive chart setup for the $14.16 billion company. It was reported on Nov, 4 by Barchart.com. We have $319.65 PT which if reached, will make NYSE:MHK worth $9.49 billion more.

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

Out of 11 analysts covering Mohawk (NYSE:MHK), 8 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 73% are positive. Mohawk has been the topic of 17 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Bank of America given on Wednesday, October 12. The firm has “Market Perform” rating given on Thursday, September 29 by Wells Fargo. The rating was downgraded by JP Morgan on Tuesday, March 15 to “Neutral”. The firm has “Outperform” rating by RBC Capital Markets given on Monday, August 10. The stock of Mohawk Industries, Inc. (NYSE:MHK) has “Overweight” rating given on Thursday, April 7 by Barclays Capital. The rating was initiated by Robert W. Baird with “Outperform” on Tuesday, November 3. Topeka Capital Markets initiated it with “Hold” rating and $185 target price in Tuesday, May 24 report. The stock has “Neutral” rating given by Bank of America on Friday, September 23. The rating was maintained by RBC Capital Markets on Monday, November 9 with “Outperform”. The firm has “Buy” rating by Stifel Nicolaus given on Monday, August 10.

According to Zacks Investment Research, “Mohawk Industries, Inc. is one of the leading producers of woven and tufted broadloom carpet and rugs for principally residential applications. The company designs, manufactures and markets carpet and rugs in a broad range of colors, textures and patterns. The company is widely recognized through its premier brand names, some of which are Mohawk, Aladdin, American Rug Craftsmen, American Weavers, Bigelow, and Custom Weave.”

Insitutional Activity: The institutional sentiment increased to 1.23 in Q2 2016. Its up 0.41, from 0.82 in 2016Q1. The ratio improved, as 31 funds sold all Mohawk Industries, Inc. shares owned while 150 reduced positions. 68 funds bought stakes while 154 increased positions. They now own 56.04 million shares or 7.09% less from 60.31 million shares in 2016Q1.
Qs Ltd Liability Co accumulated 875 shares or 0% of the stock. Hitchwood Mgmt Lp owns 800,000 shares or 3.67% of their US portfolio. Raymond James Financial Serv Advsr Incorporated reported 99,316 shares or 0.18% of all its holdings. Shinko Asset Management Ltd accumulated 0% or 164 shares. Brc Inv Mgmt Ltd Com last reported 4,006 shares in the company. Gsa Prtnrs Llp has 0.06% invested in the company for 5,946 shares. Ameritas Invest Prtn accumulated 0.02% or 1,260 shares. Jaffetilchin Prns Limited has 0.11% invested in the company for 1,927 shares. Breton Hill Capital Ltd last reported 7,768 shares in the company. Nuveen Asset Ltd Liability last reported 136,310 shares in the company. The California-based Blackrock Institutional Na has invested 0.05% in Mohawk Industries, Inc. (NYSE:MHK). Turner Lp, a Pennsylvania-based fund reported 12,400 shares. Mizuho Tru And Bk Limited has 0.06% invested in the company for 99,687 shares. Lone Pine Ltd Com holds 1.82M shares or 1.59% of its portfolio. Comm National Bank last reported 115,726 shares in the company.

Insider Transactions: Since May 10, 2016, the stock had 0 buys, and 12 selling transactions for $13.23 million net activity. Boykin Frank H sold 3,133 shares worth $626,600. HELEN SUZANNE L also sold $1.99M worth of Mohawk Industries, Inc. (NYSE:MHK) shares. The insider WELLBORN CHISTOPHER sold $2.05M. Turner John C JR had sold 1,511 shares worth $295,841 on Friday, May 13. De Cock Frans Georges sold 3,734 shares worth $784,140. Carson Brian sold $416,124 worth of Mohawk Industries, Inc. (NYSE:MHK) on Monday, August 8. 14,000 shares were sold by Thiers Bernard, worth $2.78 million.

More important recent Mohawk Industries, Inc. (NYSE:MHK) news were published by: Prnewswire.com which released: “Mohawk Industries, Inc. Invites You to Join the Third Quarter 2016 Conference …” on October 03, 2016, also Forbes.com published article titled: “Mohawk Industries Enters Oversold Territory (MHK)”, Timesfreepress.com published: “Mohawk Industries rolls up record sales in quarter” on August 05, 2016. More interesting news about Mohawk Industries, Inc. (NYSE:MHK) was released by: Prnewswire.com and their article: “Mohawk Industries, Inc. le invita a su teleconferencia sobre el tercer …” with publication date: October 03, 2016.

MHK Company Profile

Mohawk Industries, Inc. (Mohawk), incorporated on December 22, 1988, is a flooring maker that creates products for residential and commercial spaces around the world. The Firm operates in three divisions: Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). The Company’s manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile (LVT) and vinyl flooring. The Company’s trademarks include American Olean, Bigelow, Daltile, Durkan, IVC, Karastan, Lees, Marazzi, Mohawk, Pergo, Quick-Step and Unilin. Mohawk has activities in Australia, Brazil, Canada, Europe, India, Malaysia, Mexico, New Zealand, Russia and the United States.

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