Mohawk Industries (NYSE:MHK) Reaches New 1-Year High - Time to Buy?

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on Mohawk Industries from $124.00 to $155.00 and gave the company a "neutral" rating in a report on Friday, August 2nd. Truist Financial raised their target price on shares of Mohawk Industries from $135.00 to $184.00 and gave the stock a "buy" rating in a report on Monday, July 29th. Loop Capital boosted their price target on shares of Mohawk Industries from $145.00 to $185.00 and gave the company a "buy" rating in a report on Monday, July 29th. Bank of America raised shares of Mohawk Industries from an "underperform" rating to a "buy" rating and raised their price objective for the stock from $120.00 to $177.00 in a research note on Friday, July 26th. Finally, The Goldman Sachs Group boosted their target price on shares of Mohawk Industries from $141.00 to $185.00 and gave the company a "buy" rating in a research note on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Mohawk Industries has an average rating of "Moderate Buy" and a consensus price target of $166.25.

Mohawk Industries Stock Up 0.1 %

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.04. The business has a 50 day simple moving average of $154.48 and a 200 day simple moving average of $133.14. The stock has a market cap of $10.30 billion, a PE ratio of -24.66, a P/E/G ratio of 1.23 and a beta of 1.37.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.25. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.84 billion. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The firm's revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.76 EPS. On average, equities research analysts forecast that Mohawk Industries, Inc. will post 10 EPS for the current fiscal year.

Insider Activity

In related news, insider Suzanne L. Helen sold 660 shares of the company's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $151.46, for a total value of $99,963.60. Following the completion of 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 document filed with the SEC, which is accessible through this link. In related news, insider Suzanne L. Helen sold 660 shares of the firm's 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 transaction, the insider now directly owns 118,709 shares of the company's stock, valued at approximately $17,979,665.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Suzanne L. Helen sold 2,300 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $151.15, for a total value of $347,645.00. Following the completion of the sale, the insider now owns 119,369 shares of the company's stock, valued at approximately $18,042,624.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,415 shares of company stock worth $673,387. 17.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Mohawk Industries during the 1st quarter worth $1,450,000. O Shaughnessy Asset Management LLC bought a new stake in Mohawk Industries during the 1st quarter valued at approximately $1,450,000. Sei Investments Co. grew its holdings in Mohawk Industries by 2,040.6% in the 1st quarter. Sei Investments Co. now owns 62,720 shares of the company's stock valued at $8,209,000 after buying an additional 59,790 shares during the last quarter. Goldman Sachs Group Inc. increased its position in 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 buying an additional 98,920 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Mohawk Industries by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 6,240,136 shares of the company's stock worth $645,854,000 after buying an additional 39,143 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors and hedge funds.

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.