Mohawk Industries, Inc. (NYSE:MHK – Get Free Report) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $125.69 and traded as high as $127.96. Mohawk Industries shares last traded at $127.5260, with a volume of 1,439,373 shares.
Analyst Ratings Changes
Several brokerages recently weighed in on MHK. Weiss Ratings raised shares of Mohawk Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Evercore set a $129.00 target price on Mohawk Industries in a research report on Friday, September 25th. Barclays lifted their price target on Mohawk Industries from $109.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $121.00 price objective on shares of Mohawk Industries in a research note on Tuesday, August 4th. Finally, Truist Financial upped their price objective on Mohawk Industries from $135.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Mohawk Industries currently has an average rating of “Hold” and a consensus target price of $133.75.
Read Our Latest Stock Report on Mohawk Industries
Mohawk Industries Stock Performance
The company has a debt-to-equity ratio of 0.14, a current ratio of 1.92 and a quick ratio of 1.13. The business has a 50-day moving average of $125.69 and a 200-day moving average of $116.41. The company has a market capitalization of $8.64 billion, a P/E ratio of 16.89, a P/E/G ratio of 1.78 and a beta of 1.16.
Mohawk Industries (NYSE:MHK – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $1.09. Mohawk Industries had a net margin of 4.15% and a return on equity of 7.50%. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the previous year, the business posted $2.77 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.85 EPS for the current year.
Insider Buying and Selling
In related news, CEO Jeffrey Lorberbaum sold 53,314 shares of Mohawk Industries stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $131.57, for a total transaction of $7,014,522.98. Following the completion of the transaction, the chief executive officer directly owned 10,000 shares of the company’s stock, valued at approximately $1,315,700. The trade was a 84.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bernard Thiers sold 13,393 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $134.98, for a total transaction of $1,807,787.14. Following the transaction, the director owned 93,633 shares in the company, valued at $12,638,582.34. The trade was a 12.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 172,996 shares of company stock valued at $22,433,248. Company insiders own 17.90% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Pinnacle Wealth Planning Services Inc. grew its stake in Mohawk Industries by 14.4% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 732 shares of the company’s stock worth $91,000 after acquiring an additional 92 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Mohawk Industries by 1.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,685 shares of the company’s stock worth $560,000 after acquiring an additional 101 shares in the last quarter. Elevation Wealth Partners LLC raised its holdings in Mohawk Industries by 122.2% in the second quarter. Elevation Wealth Partners LLC now owns 220 shares of the company’s stock worth $27,000 after purchasing an additional 121 shares in the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Mohawk Industries by 105.7% during the 1st quarter. SJS Investment Consulting Inc. now owns 323 shares of the company’s stock worth $32,000 after acquiring an additional 166 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Mohawk Industries during the second quarter worth $25,000. Institutional investors own 78.98% of the company’s stock.
Mohawk Industries Company Profile
Mohawk Industries, Inc is a global manufacturer and distributor of flooring products. The company serves residential and commercial customers through products sold to retailers, distributors, builders, contractors and other industry professionals.
Its product portfolio includes carpet, rugs, ceramic and porcelain tile, hardwood flooring, laminate, luxury vinyl tile and other resilient flooring products. Mohawk markets products under a range of well-known brands, including Mohawk, Karastan, Pergo, Quick-Step, Marazzi, Daltile, American Olean and Durkan.
The company traces its origins to a carpet mill established in 1878 and is headquartered in Calhoun, Georgia.
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