Upgrade Alert for Mohawk Industries (MHK)
Mohawk Industries (NYSE:MHK) was upgraded from Underperform to Outperform at Macquarie today. The stock closed yesterday at $93.60 on volume of 184,000 shares, below average daily volume of 688,000.
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.
Mohawk Industries share prices have moved between a 52-week high of $95.61 and a 52-week low of $59.69 and closed yesterday at 57% above that low price at $93.60 per share. The 200-day and 50-day moving averages have moved 0.54% higher and 0.62% higher over the past week, respectively.
There is potential upside of 3.9% for shares of Mohawk Industries based on a current price of $93.60 and an average consensus analyst price target of $97.29. Mohawk Industries shares have support at the 50-day moving average (MA) of $87.05 and additional support at the 200-day MA of $75.50.
SmarTrend recommended that subscribers consider buying shares of Mohawk Industries on November 21st, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $86.43. Since that recommendation, shares of Mohawk Industries have risen 8.3%. We continue to monitor MHK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades mohawk industries