Key Points
- Mohawk Industries insider Mauro Vandini sold 5,000 shares for $778,650 at an average price of $155.73, reducing his direct ownership by 13.31% to 32,573 shares.
- The company’s latest quarter delivered adjusted earnings of $2.72 per share, above estimates of $2.58, while revenue of $2.79 billion fell short of expectations and rose 1% year over year.
- Analyst sentiment is mostly neutral: the stock carries an average “Hold” rating and a $138.92 average price target, despite recent trading near its one-year high.
Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) insider Mauro Vandini sold 5,000 shares of Mohawk Industries stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $155.73, for a total value of $778,650.00. Following the completion of the transaction, the insider directly owned 32,573 shares of the company's stock, valued at $5,072,593.29. This represents a 13.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Mohawk Industries Price Performance
MHK opened at $156.37 on Tuesday. The company's 50 day simple moving average is $127.86 and its 200-day simple moving average is $117.44. Mohawk Industries, Inc. has a one year low of $92.99 and a one year high of $158.81. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.91 and a quick ratio of 1.09. The stock has a market capitalization of $9.09 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 1.45 and a beta of 1.18.
Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.58 by $0.14. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. Mohawk Industries had a return on equity of 7.47% and a net margin of 4.63%. The business's quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company earned $2.67 EPS. Sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.76 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Mohawk Industries
Several institutional investors have recently modified their holdings of MHK. BlackRock Inc. bought a new stake in shares of Mohawk Industries in the 2nd quarter valued at about $777,293,000. Pzena Investment Management LLC acquired a new stake in shares of Mohawk Industries in the 2nd quarter valued at approximately $138,661,000. Canada Pension Plan Investment Board acquired a new stake in shares of Mohawk Industries in the 2nd quarter valued at approximately $80,880,000. Donald Smith & CO. Inc. bought a new position in Mohawk Industries during the 2nd quarter worth approximately $42,157,000. Finally, Bank of America Corp DE bought a new position in Mohawk Industries during the 2nd quarter worth approximately $36,666,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
MHK has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $121.00 price objective on shares of Mohawk Industries in a report on Tuesday, August 4th. Barclays lifted their target price on shares of Mohawk Industries from $115.00 to $125.00 and gave the stock an "equal weight" rating in a report on Monday, November 2nd. Weiss Ratings upgraded shares of Mohawk Industries from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, November 2nd. Royal Bank Of Canada cut shares of Mohawk Industries from a "sector perform" rating to an "underperform" rating and dropped their target price for the company from $130.00 to $112.00 in a research report on Wednesday, October 7th. Finally, Evercore raised Mohawk Industries from an "in-line" rating to an "outperform" rating and set a $171.00 price target on the stock in a research note on Monday, November 2nd. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $138.92.
Check Out Our Latest Stock Report on MHK
Mohawk Industries Company Profile
(
Get Free Report)
Mohawk Industries, Inc is a global flooring manufacturer headquartered in Calhoun, Georgia. Its roots trace to a carpet-weaving business established in Amsterdam, New York, in 1878.
The company makes flooring for residential and commercial customers, including carpet, rugs, ceramic and porcelain tile, natural stone, hardwood, laminate and luxury vinyl products. Its portfolio includes brands such as Mohawk, Daltile, American Olean, Karastan and Pergo.
Mohawk serves markets across North America and internationally, with manufacturing and distribution operations in several regions.
Further Reading
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