Mohawk Industries (NYSE:MHK) Sets New 1-Year Low – Time to Sell?

Mohawk Industries, Inc. (NYSE:MHK) hit a new 52-week low on Friday . The company traded as low as $103.05 and last traded at $101.97, with a volume of 140990 shares. The stock had previously closed at $107.84.

Wall Street Analyst Weigh In

MHK has been the topic of several research analyst reports. The Goldman Sachs Group decreased their price target on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Truist Financial decreased their price objective on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Evercore ISI dropped their target price on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating for the company in a research report on Monday, February 10th. Raymond James reiterated a “strong-buy” rating and issued a $165.00 price target (down previously from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. dropped their price objective on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.07.

Mohawk Industries Trading Down 2.1 %

The company has a market capitalization of $6.61 billion, a P/E ratio of 12.98, a PEG 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 business’s 50-day moving average price is $117.26 and its two-hundred day moving average price is $130.85.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.95 EPS for the quarter, topping 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%. As a group, analysts forecast that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Insider Activity

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries stock in a transaction that occurred on 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. The trade was a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 17.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mohawk Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in MHK. Vanguard Group Inc. increased its holdings in Mohawk Industries by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,229,786 shares of the company’s stock worth $742,154,000 after purchasing an additional 20,327 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Mohawk Industries by 6.3% during the fourth quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company’s stock worth $383,076,000 after buying an additional 191,077 shares during the period. State Street Corp grew its holdings in shares of Mohawk Industries by 1.3% during the third quarter. State Street Corp now owns 1,846,446 shares of the company’s stock worth $296,687,000 after buying an additional 23,016 shares in the last quarter. Invesco Ltd. raised its position in Mohawk Industries by 16.3% in the 4th quarter. Invesco Ltd. now owns 1,725,383 shares of the company’s stock valued at $205,545,000 after buying an additional 241,448 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Mohawk Industries by 35.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company’s stock valued at $162,793,000 after acquiring an additional 354,656 shares in 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.