Mohawk Industries (NYSE:MHK) Sets New 12-Month High at $127.75

Mohawk Industries, Inc. (NYSE:MHK)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $127.75 and last traded at $127.70, with a volume of 61665 shares traded. The stock had previously closed at $125.10.

Analyst Ratings Changes

Several research analysts have issued reports on MHK shares. Wells Fargo & Company lowered their price objective on shares of Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating on the stock in a research report on Monday, January 22nd. StockNews.com raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a report on Saturday, February 17th. Truist Financial lifted their target price on shares of Mohawk Industries from $98.00 to $127.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. TheStreet raised shares of Mohawk Industries from a “d+” rating to a “c-” rating in a report on Monday, March 4th. Finally, The Goldman Sachs Group lifted their target price on shares of Mohawk Industries from $105.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $117.56.

Mohawk Industries Stock Up 1.5 %

The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of -18.91 and a beta of 1.33. The firm’s fifty day moving average is $114.64 and its 200-day moving average is $98.75. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 0.97.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Friday, February 9th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.10. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Mohawk Industries had a negative net margin of 3.95% and a positive return on equity of 7.52%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.32 earnings per share. On average, sell-side analysts predict that Mohawk Industries, Inc. will post 9.59 earnings per share for the current year.

Insider Transactions at Mohawk Industries

In other news, VP Rodney David Patton sold 1,551 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total transaction of $185,360.01. Following the completion of the transaction, the vice president now owns 15,321 shares in the company, valued at $1,831,012.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.20% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quadrature Capital Ltd lifted its holdings in Mohawk Industries by 1.0% in the 4th quarter. Quadrature Capital Ltd now owns 37,141 shares of the company’s stock valued at $3,844,000 after acquiring an additional 350 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Mohawk Industries by 3.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,769 shares of the company’s stock valued at $597,000 after acquiring an additional 184 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Mohawk Industries by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 6,240,136 shares of the company’s stock valued at $645,854,000 after acquiring an additional 39,143 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Mohawk Industries by 48.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 302,889 shares of the company’s stock valued at $31,349,000 after acquiring an additional 98,920 shares during the last quarter. Finally, Speece Thorson Capital Group Inc. lifted its holdings in Mohawk Industries by 0.7% in the 4th quarter. Speece Thorson Capital Group Inc. now owns 129,223 shares of the company’s stock valued at $13,375,000 after acquiring an additional 862 shares during the last quarter. Institutional investors own 78.98% of the company’s stock.

Mohawk Industries Company Profile

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.