Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) reached a new 52-week low on Thursday . The company traded as low as $96.24 and last traded at $108.86, with a volume of 1561915 shares traded. The stock had previously closed at $98.63.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on MHK. StockNews.com downgraded Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. Robert W. Baird reduced their price objective on shares of Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating for the company in a research note on Monday, February 10th. Loop Capital dropped their price target on shares of Mohawk Industries from $180.00 to $155.00 and set a "buy" rating on the stock in a research report on Monday, February 10th. Evercore ISI dropped their target price on shares of Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating on the stock in a report on Monday, February 10th. Finally, Raymond James restated a "strong-buy" rating and set a $165.00 price target (down from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $142.57.
Read Our Latest Analysis on Mohawk Industries
Mohawk Industries Stock Up 0.3 %
The stock has a market capitalization of $6.53 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. 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 firm has a 50 day simple moving average of $114.10 and a 200-day simple moving average of $127.86.
Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate 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, sell-side analysts forecast that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, insider Suzanne L. Helen sold 10,500 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the transaction, the insider now owns 93,584 shares of the company's stock, valued at approximately $10,616,168.96. This trade represents a 10.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 17.10% of the company's stock.
Hedge Funds Weigh In On Mohawk Industries
Large investors have recently bought and sold shares of the business. Huntington National Bank lifted its stake in shares of Mohawk Industries by 27.4% in 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 during the period. Janus Henderson Group PLC raised its holdings in Mohawk Industries by 0.5% in the fourth quarter. Janus Henderson Group PLC now owns 25,659 shares of the company's stock worth $3,054,000 after purchasing an additional 120 shares during the period. Contravisory Investment Management Inc. boosted its position in shares of Mohawk Industries by 2.2% during the fourth quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company's stock worth $680,000 after purchasing an additional 121 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Mohawk Industries by 1.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company's stock valued at $819,000 after buying an additional 130 shares during the period. Finally, Treasurer of the State of North Carolina lifted its holdings in Mohawk Industries by 0.7% during the fourth quarter. Treasurer of the State of North Carolina now owns 23,065 shares of the company's stock worth $2,748,000 after acquiring an additional 150 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors and hedge funds.
About Mohawk Industries
(
Get Free Report)
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.
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