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Fintel reports that on June 10, 2024, Raymond James upgraded their outlook for Mohawk Industries (NYSE:MHK) from Market Perform to Strong Buy.

Analyst Price Forecast Suggests 8.41% Upside

As of June 1, 2024, the average one-year price target for Mohawk Industries is 128.01. The forecasts range from a low of 109.08 to a high of $152.25. The average price target represents an increase of 8.41% from its latest reported closing price of 118.08.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Mohawk Industries is 11,678MM, an increase of 6.08%. The projected annual non-GAAP EPS is 12.18.

What is the Fund Sentiment?

There are 979 funds or institutions reporting positions in Mohawk Industries. This is an decrease of 3 owner(s) or 0.31% in the last quarter. Average portfolio weight of all funds dedicated to MHK is 0.24%, an increase of 542.65%. Total shares owned by institutions increased in the last three months by 1.36% to 57,961K shares.

The put/call ratio of MHK is 0.55, indicating a bullish outlook.

What are Other Shareholders Doing?

Jpmorgan Chase holds 3,305K shares representing 5.17% ownership of the company. In its prior filing, the firm reported owning 2,737K shares , representing an increase of 17.19%. The firm decreased its portfolio allocation in MHK by 85.02% over the last quarter.

Ariel Investments holds 1,871K shares representing 2.93% ownership of the company. In its prior filing, the firm reported owning 2,148K shares , representing a decrease of 14.85%. The firm decreased its portfolio allocation in MHK by 54.58% over the last quarter.

Invesco holds 1,744K shares representing 2.73% ownership of the company. In its prior filing, the firm reported owning 1,741K shares , representing an increase of 0.17%. The firm decreased its portfolio allocation in MHK by 89.53% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,702K shares representing 2.66% ownership of the company. In its prior filing, the firm reported owning 1,697K shares , representing an increase of 0.28%. The firm increased its portfolio allocation in MHK by 15.61% over the last quarter.

Select Equity Group holds 1,570K shares representing 2.46% ownership of the company. In its prior filing, the firm reported owning 1,403K shares , representing an increase of 10.58%. The firm increased its portfolio allocation in MHK by 40.52% over the last quarter.

Mohawk Industries Background Information
(This description is provided by the company.)

Mohawk Industries is the leading global flooring manufacturer that creates products to enhance residential and commercial spaces around the world. Mohawk's vertically integrated manufacturing and distribution processes provide competitive advantages in the production of carpet, rugs, ceramic tile, laminate, wood, stone and vinyl flooring. Our industry-leading innovation has yielded products and technologies that differentiate our brands in the marketplace and satisfy all remodeling and new construction requirements. Our brands are among the most recognized in the industry and include American Olean, Daltile, Durkan, Karastan, IVC, Marazzi, Mohawk, Pergo, Quick-Step and Unilin. During the past decade, Mohawk has transformed its business from an American carpet manufacturer into the world's largest flooring company with operations in Australia, Brazil, Canada, Europe, India, Malaysia, Mexico, New Zealand, Russia and the United States.

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This story originally appeared on Fintel.

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