Mohawk Industries (NYSE:MHK) Sets New 52-Week High at $136.75

Mohawk Industries, Inc. (NYSE:MHK)’s stock price reached a new 52-week high on Thursday . The company traded as high as $136.75 and last traded at $135.71, with a volume of 547049 shares. The stock had previously closed at $127.18.

Analyst Ratings Changes

A number of research firms recently weighed in on MHK. Truist Financial lowered their price objective on shares of Mohawk Industries from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Barclays reduced their target price on shares of Mohawk Industries from $120.00 to $118.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. JPMorgan Chase & Co. boosted their target price on shares of Mohawk Industries from $122.00 to $124.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Royal Bank of Canada boosted their target price on shares of Mohawk Industries from $106.00 to $108.00 and gave the stock a “sector perform” rating in a report on Monday, April 29th. Finally, Loop Capital reduced their target price on shares of Mohawk Industries from $140.00 to $135.00 and set a “buy” rating for the company in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.50.

Mohawk Industries Trading Up 6.2 %

The stock has a 50-day moving average of $116.95 and a 200 day moving average of $115.45. The stock has a market cap of $8.63 billion, a PE ratio of -20.75, a price-to-earnings-growth ratio of 1.29 and a beta of 1.38. The company has a quick ratio of 1.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, April 25th. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.16. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.64 billion. Mohawk Industries had a positive return on equity of 7.72% and a negative net margin of 3.77%. Mohawk Industries’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.75 earnings per share. As a group, sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.51 earnings per share for the current year.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 1,800 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $111.74, for a total value of $201,132.00. Following the sale, the insider now owns 122,369 shares in the company, valued at approximately $13,673,512.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Truist Financial Corp raised its stake in Mohawk Industries by 72.1% in the 4th quarter. Truist Financial Corp now owns 294,894 shares of the company’s stock valued at $30,522,000 after purchasing an additional 123,508 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Mohawk Industries in the 1st quarter worth $1,450,000. Sei Investments Co. increased its stake in shares of Mohawk Industries by 2,040.6% in the 1st quarter. Sei Investments Co. now owns 62,720 shares of the company’s stock worth $8,209,000 after acquiring an additional 59,790 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Mohawk Industries by 48.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 302,889 shares of the company’s stock worth $31,349,000 after acquiring an additional 98,920 shares during the last quarter. Finally, Point72 Europe London LLP acquired a new stake in shares of Mohawk Industries in the 4th quarter worth $679,000. Hedge funds and other 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.