Jefferies Sticks to Their Hold Rating for Mohawk Industries (MHK)

In a report issued on June 9, Philip Ng from Jefferies maintained a Hold rating on Mohawk Industries (MHK), with a price target of $115.00. The company’s shares closed last Wednesday at $99.71.

According to, Ng is a 5-star analyst with an average return of 14.1% and a 70.0% success rate. Ng covers the Basic Materials sector, focusing on stocks such as Berry Global Group, Vulcan Materials, and Summit Materials.

The word on The Street in general, suggests a Hold analyst consensus rating for Mohawk Industries with a $98.80 average price target, which is a -3.1% downside from current levels. In a report issued on July 9, J.P. Morgan also maintained a Hold rating on the stock with a $80.00 price target.

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Based on Mohawk Industries’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.05 billion and GAAP net loss of $48.26 million. In comparison, last year the company earned revenue of $2.58 billion and had a net profit of $202 million.

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MHK in relation to earlier this year.

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Mohawk Industries, Inc. engages in the manufacture, design, and distribution of residential and commercial flooring products. It operates through the following segments: Global Ceramic, Flooring North America (NA), and Flooring Rest of the World (ROW). The Global Ceramic segment comprises ceramic, porcelain, and natural stone tile products used for wall and floor applications. The Flooring NA segment includes floor covering product lines, in a broad range of colors, textures, and patterns. The Flooring ROW segment consists of laminate, hardwood flooring, and vinyl flooring products, roofing elements, insulation boards, medium-density fiberboard, and chipboards. The company was founded on December 22, 1988 and is headquartered in Calhoun, GA.

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