RBC Capital Believes Mohawk Industries (NYSE: MHK) Won’t Stop Here

By Austin Angelo

RBC Capital analyst Robert Wetenhall reiterated a Buy rating on Mohawk Industries (NYSE: MHK) today and set a price target of $291. The company’s shares opened today at $248.65, close to its 52-week high of $251.69.

According to TipRanks.com, Wetenhall is a top 100 analyst with an average return of 12.6% and a 74.5% success rate. Wetenhall covers the Industrial Goods sector, focusing on stocks such as Continental Building Products, Installed Building Products, and Advanced Drainage Systems.

Currently, the analyst consensus on Mohawk Industries is Strong Buy and the average price target is $278.75, representing a 12.1% upside.

In a report issued on July 28, Stifel Nicolaus also reiterated a Buy rating on the stock with a $270 price target.

Mohawk Industries’ market cap is currently $18.48B and has a P/E ratio of 19.35. The company has a book value ratio of 3.0500.

Based on the recent corporate insider activity of 73 insiders, corporate insider sentiment is negative on the stock. Last month, Frans Georges de Cock, a Director at MHK sold 1,000 shares for a total of $238,260.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Mohawk Industries, Inc. engages in manufacturing and distributing of residential and commercial flooring. It operates through the following segments: Global Ceramic, Flooring North America, and Flooring Rest of the World. The Global Ceramic segment offers selling of ceramic tile, stone floors, and stone countertops.