BofA Securities analyst Rafe Jadrosich maintains $Mohawk Industries (MHK.US)$ with a buy rating, and maintains the target price at $152.
According to TipRanks data, the analyst has a success rate of 55.9% and a total average return of 10.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Mohawk Industries (MHK.US)$'s main analysts recently are as follows:
The company's earnings are expected to be impacted through 2024 due to 'sluggish' end market volumes, pricing pressure, mix-down, and challenges related to hurricanes. A recovery in volumes is anticipated in 2025, which is contingent upon relief from interest rates.
The firm maintains a cautious stance regarding a strong and enduring earnings recovery for Mohawk, given the ongoing macroeconomic and competitive challenges.
Shares of Mohawk Industries have experienced a downturn, exacerbated by the absence of continued buybacks after the second quarter and a less-than-optimistic forecast for the fourth quarter. Despite the company's excellent potential for self-improvement, the prevailing near-term uncertainties have led to a cautious stance.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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