Key Points
- Director Bernard Thiers sold 15,000 Mohawk Industries shares at an average of $144.05, totaling about $2.16 million. The sale reduced his holdings by 16% to 78,633 shares.
- Mohawk’s latest quarterly earnings were $2.72 per share, beating estimates of $2.58, while revenue of $2.79 billion fell short of expectations; revenue rose 1% year over year.
- Analyst views are mixed: Evercore upgraded the stock to Outperform with a $171 target, while most analysts maintain Hold ratings. The consensus price target is $138.92.
Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) Director Bernard Thiers sold 15,000 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $144.05, for a total value of $2,160,750.00. Following the completion of the transaction, the director owned 78,633 shares of the company's stock, valued at $11,327,083.65. The trade was a 16.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Bernard Thiers also recently made the following trade(s):
- On Wednesday, August 5th, Bernard Thiers sold 13,393 shares of Mohawk Industries stock. The shares were sold at an average price of $134.98, for a total value of $1,807,787.14.
Mohawk Industries Price Performance
Mohawk Industries stock opened at $145.11 on Wednesday. The company has a market cap of $8.44 billion, a P/E ratio of 17.03, a price-to-earnings-growth ratio of 2.13 and a beta of 1.18. Mohawk Industries, Inc. has a one year low of $92.99 and a one year high of $151.24. The business has a fifty day moving average of $126.18 and a two-hundred day moving average of $116.84. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.91.
Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.58 by $0.14. Mohawk Industries had a net margin of 4.63% and a return on equity of 7.47%. The business had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.82 billion. During the same period in the prior year, the company posted $2.67 EPS. The business's revenue for the quarter was up 1.0% on a year-over-year basis. As a group, analysts predict that Mohawk Industries, Inc. will post 9.78 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in MHK. BlackRock Inc. acquired a new stake in Mohawk Industries in the 2nd quarter valued at about $777,293,000. Pzena Investment Management LLC purchased a new position in Mohawk Industries during the 2nd quarter valued at about $138,661,000. Canada Pension Plan Investment Board purchased a new position in Mohawk Industries during the 2nd quarter valued at about $80,880,000. Donald Smith & CO. Inc. acquired a new position in Mohawk Industries during the second quarter worth about $42,157,000. Finally, Bank of America Corp DE acquired a new position in Mohawk Industries during the second quarter worth about $36,666,000. Institutional investors and hedge funds own 78.98% of the company's stock.
Analyst Upgrades and Downgrades
MHK has been the topic of several recent analyst reports. Evercore upgraded shares of Mohawk Industries from an "in-line" rating to an "outperform" rating and set a $171.00 target price on the stock in a research report on Monday. Robert W. Baird increased their target price on shares of Mohawk Industries from $132.00 to $142.00 and gave the company a "neutral" rating in a report on Monday. Wells Fargo & Company lifted their price target on shares of Mohawk Industries from $115.00 to $125.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. Barclays boosted their price target on Mohawk Industries from $115.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Monday. Finally, Royal Bank Of Canada cut Mohawk Industries from a "sector perform" rating to an "underperform" rating and lowered their price target for the stock from $130.00 to $112.00 in a report on Wednesday, October 7th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $138.92.
Get Our Latest Stock Analysis on MHK
Trending Headlines about Mohawk Industries
Here are the key news stories impacting Mohawk Industries this week:
- Positive Sentiment: Evercore ISI upgraded Mohawk to Outperform from In Line, citing an expected $1.1 billion buyback outlook—a potential source of shareholder returns and support for the stock. Evercore upgrade and buyback outlook
- Neutral Sentiment: Barclays raised its price target to $125 from $115 but kept an Equal Weight rating; Baird raised its target to $142 from $132 and maintained Neutral. Both targets remain below the share price cited in the reports, tempering the significance of the increases. Barclays rating Baird rating
- Negative Sentiment: Director Bernard Thiers sold 15,000 shares for about $2.16 million, reducing his direct stake by roughly 16%. Insider sales can raise concerns, although the filing does not establish the reason for the transaction. Mohawk insider share sale
Mohawk Industries Company Profile
(
Get Free Report)
Mohawk Industries, Inc is a global manufacturer and distributor of flooring products. The company serves residential and commercial customers through products sold to retailers, distributors, builders, contractors and other industry professionals.
Its product portfolio includes carpet, rugs, ceramic and porcelain tile, hardwood flooring, laminate, luxury vinyl tile and other resilient flooring products. Mohawk markets products under a range of well-known brands, including Mohawk, Karastan, Pergo, Quick-Step, Marazzi, Daltile, American Olean and Durkan.
The company traces its origins to a carpet mill established in 1878 and is headquartered in Calhoun, Georgia.
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