Mohawk Industries (NYSE:MHK) Sets New 1-Year High – What’s Next?

Mohawk Industries, Inc. (NYSE:MHK) shares reached a new 52-week high during trading on Monday . The company traded as high as $164.29 and last traded at $162.06, with a volume of 65542 shares trading hands. The stock had previously closed at $161.05.

Wall Street Analysts Forecast Growth

MHK has been the topic of several recent research reports. Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $160.00 to $196.00 in a research note on Monday. JPMorgan Chase & Co. boosted their price target on Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Barclays lifted their price objective on Mohawk Industries from $118.00 to $161.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Bank of America raised Mohawk Industries from an “underperform” rating to a “buy” rating and increased their target price for the stock from $120.00 to $177.00 in a research note on Friday, July 26th. Finally, Wells Fargo & Company upgraded shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $140.00 to $160.00 in a research note on Monday, October 7th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $166.25.

Mohawk Industries Trading Down 5.2 %

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.92. The stock has a fifty day moving average of $154.60 and a 200 day moving average of $133.35. The company has a market capitalization of $9.77 billion, a P/E ratio of -23.38, a PEG ratio of 1.23 and a beta of 1.37.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $0.25. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.84 billion. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The company’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.76 EPS. As a group, equities research analysts anticipate that Mohawk Industries, Inc. will post 10 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 660 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $151.46, for a total value of $99,963.60. Following the sale, the insider now directly owns 118,709 shares in the company, valued at approximately $17,979,665.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Suzanne L. Helen sold 660 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.46, for a total value of $99,963.60. Following the transaction, the insider now directly owns 118,709 shares in the company, valued at approximately $17,979,665.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Rodney David Patton sold 755 shares of Mohawk Industries stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $162.78, for a total transaction of $122,898.90. Following the sale, the vice president now owns 12,299 shares of the company’s stock, valued at $2,002,031.22. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,415 shares of company stock valued at $673,387 over the last 90 days. Insiders own 17.10% of the company’s stock.

Institutional Trading of Mohawk Industries

A number of hedge funds have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Mohawk Industries in the first quarter worth about $1,450,000. O Shaughnessy Asset Management LLC bought a new position in shares of Mohawk Industries during the 1st quarter worth approximately $1,450,000. Sei Investments Co. lifted its position in Mohawk Industries by 2,040.6% during the first quarter. Sei Investments Co. now owns 62,720 shares of the company’s stock valued at $8,209,000 after acquiring an additional 59,790 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Mohawk Industries by 20.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 61,447 shares of the company’s stock valued at $8,043,000 after acquiring an additional 10,274 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Mohawk Industries by 0.3% in the first quarter. Vanguard Group Inc. now owns 6,257,677 shares of the company’s stock worth $819,067,000 after purchasing an additional 17,541 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

About Mohawk Industries

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.