Mohawk Industries (NYSE:MHK) Hits New 52-Week Low - What's Next?

Mohawk Industries, Inc. (NYSE:MHK - Get Free Report)'s stock price reached a new 52-week low during trading on Friday . The company traded as low as $103.05 and last traded at $101.97, with a volume of 140990 shares changing hands. The stock had previously closed at $107.84.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MHK shares. Barclays cut their target price on Mohawk Industries from $125.00 to $115.00 and set an "equal weight" rating for the company in a research report on Tuesday. StockNews.com downgraded shares of Mohawk Industries from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd. Raymond James reissued a "strong-buy" rating and issued a $165.00 target price (down from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Bank of America reduced their price objective on Mohawk Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mohawk Industries in a research report on Tuesday, April 1st. They set a "hold" rating and a $121.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $144.36.

Remove Ads

Mohawk Industries Trading Up 10.4 %

The company's fifty day moving average is $115.68 and its 200-day moving average is $129.64. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. The company has a market capitalization of $6.81 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. On average, analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the transaction, the insider now directly owns 93,584 shares of the company's stock, valued at approximately $10,616,168.96. This represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 17.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MHK. Resona Asset Management Co. Ltd. acquired a new stake in Mohawk Industries in the fourth quarter worth about $41,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Mohawk Industries in the 3rd quarter valued at approximately $55,000. Versant Capital Management Inc boosted its stake in Mohawk Industries by 71.0% in the 4th quarter. Versant Capital Management Inc now owns 537 shares of the company's stock worth $64,000 after purchasing an additional 223 shares in the last quarter. R Squared Ltd purchased a new stake in Mohawk Industries during the 4th quarter worth approximately $66,000. Finally, Huntington National Bank increased its stake in Mohawk Industries by 27.4% during the 4th quarter. Huntington National Bank now owns 554 shares of the company's stock valued at $66,000 after purchasing an additional 119 shares in the last quarter. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

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.