Key Points
- Insider Suzanne Helen sold 1,646 Mohawk Industries shares at an average of $146.60, worth about $241,304; she retained 140,000 shares after the sale.
- Mohawk reported quarterly EPS of $2.72, beating the $2.58 consensus, while revenue of $2.79 billion missed estimates despite rising 1% year over year.
- Evercore upgraded the stock to Outperform and set a $171 price target, citing an expected $1.1 billion share-buyback outlook; analysts’ overall consensus rating remains Hold.
Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) insider Suzanne Helen sold 1,646 shares of the business's stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $146.60, for a total value of $241,303.60. Following the transaction, the insider directly owned 140,000 shares in the company, valued at approximately $20,524,000. This represents a 1.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Mohawk Industries Stock Performance
NYSE:MHK opened at $150.86 on Friday. The stock's fifty day moving average is $126.93 and its 200 day moving average is $117.13. Mohawk Industries, Inc. has a fifty-two week low of $92.99 and a fifty-two week high of $155.88. The firm has a market capitalization of $8.77 billion, a PE ratio of 14.90, a PEG ratio of 1.45 and a beta of 1.18. 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 issued its quarterly earnings results on Thursday, October 29th. The company reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.58 by $0.14. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. Mohawk Industries had a return on equity of 7.47% and a net margin of 4.63%. Mohawk Industries's revenue was up 1.0% on a year-over-year basis. During the same period last year, the company earned $2.67 earnings per share. On average, sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.76 earnings per share for the current year.
Mohawk Industries News Roundup
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 share-buyback outlook that could support shareholder returns. Evercore upgrade and buyback outlook
- Positive Sentiment: The latest reported quarter showed adjusted strength in earnings: EPS of $2.72 beat the $2.58 consensus, while revenue rose 1% year over year. Revenue of $2.79 billion, however, fell short of estimates.
- Neutral Sentiment: Baird raised its price target to $142 from $132 and Barclays to $125 from $115, but both maintained neutral or equal-weight ratings. Their targets are below the share price cited in recent reports. Baird price target update Barclays price target update
- Negative Sentiment: Multiple insiders sold shares around November 2–3. Directors Jeffrey Lorberbaum and Bernard Thiers sold 10,000 and 15,000 shares, respectively; Suzanne L. Helen also reported sales totaling 4,646 shares. These transactions may weigh on sentiment, though filings do not explain the reasons for the sales. Lorberbaum share sale Thiers share sale Helen SEC filing
Wall Street Analyst Weigh In
MHK has been the subject of several analyst reports. Bank of America restated a "neutral" rating on shares of Mohawk Industries in a report on Monday. Wells Fargo & Company upped their price target on shares of Mohawk Industries from $115.00 to $125.00 and gave the company an "equal weight" rating in a report on Monday, August 3rd. Evercore raised shares of Mohawk Industries from an "in-line" rating to an "outperform" rating and set a $171.00 price objective on the stock in a research report on Monday. Robert W. Baird increased their price objective on shares of Mohawk Industries from $132.00 to $142.00 and gave the stock a "neutral" rating in a research report on Monday. Finally, Melius Research started coverage on shares of Mohawk Industries in a research note on Tuesday, October 6th. They issued a "buy" rating and a $188.00 price objective for the company. Four equities research 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 data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $138.92.
Check Out Our Latest Analysis on Mohawk Industries
Hedge Funds Weigh In On Mohawk Industries
Several hedge funds have recently bought and sold shares of the business. Maryland State Retirement & Pension System increased its stake in Mohawk Industries by 49.1% in the third quarter. Maryland State Retirement & Pension System now owns 14,781 shares of the company's stock worth $1,843,000 after purchasing an additional 4,868 shares during the period. Lido Advisors LLC boosted its stake in shares of Mohawk Industries by 94.4% during the third quarter. Lido Advisors LLC now owns 4,127 shares of the company's stock valued at $515,000 after purchasing an additional 2,004 shares during the period. New York Life Investment Management LLC boosted its stake in shares of Mohawk Industries by 14.5% during the third quarter. New York Life Investment Management LLC now owns 7,353 shares of the company's stock valued at $917,000 after purchasing an additional 932 shares during the period. AlphaCore Capital LLC purchased a new stake in shares of Mohawk Industries during the third quarter valued at $291,000. Finally, Fulcrum Asset Management LLP grew its holdings in shares of Mohawk Industries by 1,204.0% in the third quarter. Fulcrum Asset Management LLP now owns 17,304 shares of the company's stock worth $2,160,000 after purchasing an additional 15,977 shares during the last quarter. Institutional investors own 78.98% of the company's stock.
About Mohawk Industries
(
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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