Mohawk Industries Inc. (NYSE:MHK) shares traded -6.30% lower at $111.18 on Wall Street last session.
In accordance with the data, 17 analysts cover Mohawk Industries Inc. (NYSE:MHK). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $130.00 and a low of $83.00, we find $117.00. Given the previous closing price of $118.65, this indicates a potential downside of -1.39 percent. MHK stock price is now 9.37% away from the 50-day moving average and -3.84% away from the 200-day moving average. The market capitalization of the company currently stands at $7.09B.
It has been rated a hold by 12 analysts and a buy by 2. Brokers who have rated the stock have averaged $112.57 as their price target over the next twelve months.
With the price target reduced from $140 to $100, BofA Securities Downgraded its rating from Neutral to Underperform for Mohawk Industries Inc. (NYSE: MHK). On August 18, 2022, Deutsche Bank recently initiated its ‘Hold’ rating on the stock quoting a target price of $122, while ‘Raymond James’ rates the stock as ‘Mkt Perform’.
In other news, HELEN SUZANNE L, Possible Member of Group sold 10,000 shares of the company’s stock on Dec 12. The stock was sold for $1,032,030 at an average price of $103.20. Upon completion of the transaction, the Possible Member of Group now directly owns 15,953 shares in the company, valued at $1.77 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 23, Possible Member of Group HELEN SUZANNE L sold 6,300 shares of the business’s stock. A total of $707,491 was realized by selling the stock at an average price of $112.30. This leaves the insider owning 25,953 shares of the company worth $2.89 million. Insiders disposed of 35,022 shares of company stock worth roughly $3.89 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MHK stock. A new stake in Mohawk Industries Inc. shares was purchased by SELECT EQUITY GROUP, L.P. during the first quarter worth $35,389,000. RENAISSANCE TECHNOLOGIES LLC invested $16,955,000 in shares of MHK during the first quarter. In the first quarter, MARKETFIELD ASSET MANAGEMENT LLC acquired a new stake in Mohawk Industries Inc. valued at approximately $3,411,000. QUADRATURE CAPITAL LTD acquired a new stake in MHK for approximately $2,918,000. JUMP FINANCIAL, LLC purchased a new stake in MHK valued at around $2,670,000 in the second quarter. In total, there are 686 active investors with 79.20% ownership of the company’s stock.
Mohawk Industries Inc. (NYSE: MHK) opened at $111.22 on Tuesday. During the past 12 months, Mohawk Industries Inc. has had a low of $87.01 and a high of $175.61. As of last week, the company has a debt-to-equity ratio of 0.33, a current ratio of 1.50, and a quick ratio of 0.80. The fifty day moving average price for MHK is $102.07 and a two-hundred day moving average price translates $115.52 for the stock.
The latest earnings results from Mohawk Industries Inc. (NYSE: MHK) was released for Jul, 2022. According to the Furnishings Fixtures & Appliances Company, earnings per share came in at $3.34, missing analysts’ expectations of $3.35 by -0.01. This compares to $3.94 EPS in the same period last year. The net profit margin was 1.50% and return on equity was 2.20% for MHK. The company reported revenue of $2.92 billion for the quarter, compared to $2.82 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.57 percent. For the current quarter, analysts expect MHK to generate $2.9B in revenue.
Mohawk Industries Inc.(MHK) Company Profile
Mohawk Industries, Inc. designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces in the United States, Europe, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW). The Global Ceramic segment provides a range of ceramic tile, porcelain tile, and natural stone products; and sources, markets, and distributes other tile related products. This segment markets and distributes its products under the American Olean, Daltile, Eliane, EmilGroup, KAI, Kerama Marazzi, Marazzi, and Ragno brands. The Flooring NA segment offers floor covering product lines in a range of colors, textures, and patterns, including carpets, carpet tiles, rugs and mats, carpet pads, hardwood, laminate, medium-density fiberboards, luxury vinyl tiles (LVT), and sheet vinyl products. This segment markets and distributes its flooring products under the Aladdin Commercial, Durkan, IVC, Karastan, Mohawk, Mohawk Group, Mohawk Home, Pergo, Portico, and Quick-Step brands. The Flooring ROW segment provides wood flooring and vinyl flooring, as well as laminates, roofing elements, sheet vinyl, LVT, insulation boards, medium-density fiberboards, chipboards, and other woods products under the Feltex, Godfrey Hirst, Hycraft, IVC Commercial, IVC Home, Leoline, Moduleo, Pergo, Quick-Step, and Unilin and Xtratherm brands; and licenses its intellectual property to flooring manufacturers. Mohawk Industries, Inc. was incorporated in 1988 and is headquartered in Calhoun, Georgia.