Mohawk Industries (MHK) Has a New Rating from National Securities Corp

By Carrie Williams

In a report released today, Ilya Grozovsky from National Securities Corp initiated coverage with a Buy rating on Mohawk Industries (MHKResearch Report) and a price target of $14. The company’s shares closed yesterday at $148.60.

According to TipRanks.com, Grozovsky is a 4-star analyst with an average return of 8.7% and a 51.6% success rate. Grozovsky covers the Technology sector, focusing on stocks such as Super League Gaming Inc, Digital Turbine Inc, and Mitek Systems Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Mohawk Industries with a $130.29 average price target.

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Based on Mohawk Industries’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $122 million. In comparison, last year the company had a net profit of $197 million.

Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock.

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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).