Upgrade Alert for Mohawk Industries (MHK)
Mohawk Industries (NYSE:MHK) was upgraded from Outperform to Strong Buy at Raymond James today. The stock closed yesterday at $118.34 on volume of 809,000 shares, below average daily volume of 844,000.
Potential upside of 15.2% exists for Mohawk Industries, based on a current level of $118.34 and analysts' average consensus price target of $136.38. The stock should discover initial support at its 50-day moving average (MA) of $118.26 and subsequent support at its 200-day MA of $106.95.
In the past 52 weeks, Mohawk Industries share prices have been bracketed by a low of $70.84 and a high of $134.21 and closed yesterday at $118.34, 67% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.5%.
Mohawk Industries, Inc. designs, manufactures, and markets woven and tufted broadloom carpets and rugs for residential and commercial applications. The Company markets its products under brand names such as Mohawk, Aladdin, Alexander Smith, Bigelow, and Galaxy. Mohawk also offers bath rugs, area rugs, decorative throws, and a laminate product line, among other products.
SmarTrend is tracking the current trend status for Mohawk Industries and will alert subscribers who have MHK in their portfolio or watchlist when shares have changed trend direction.
Keywords: analyst upgrades/downgrades mohawk industries