Mohawk Industries, Inc. (NYSE:MHK) Short Interest Update

Mohawk Industries, Inc. (NYSE:MHK) was the recipient of a large decrease in short interest in February. As of February 15th, there was short interest totalling 1,180,000 shares, a decrease of 28.5% from the January 31st total of 1,650,000 shares. Based on an average daily trading volume, of 728,000 shares, the days-to-cover ratio is currently 1.6 days. Approximately 2.3% of the shares of the company are sold short.

Mohawk Industries Price Performance

Shares of Mohawk Industries stock traded down $3.24 during midday trading on Tuesday, hitting $113.06. 691,891 shares of the company traded hands, compared to its average volume of 690,373. Mohawk Industries has a 12 month low of $104.88 and a 12 month high of $164.29. The stock has a market cap of $7.08 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.44 and a beta of 1.41. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. The firm’s fifty day moving average price is $121.23 and its 200-day moving average price is $137.05.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates 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, sell-side analysts forecast that Mohawk Industries will post 9.8 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Bank of America dropped their price objective on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, February 10th. The Goldman Sachs Group dropped their price target on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Evercore ISI reduced their price target on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a research report on Monday, February 10th. Truist Financial dropped their price objective on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, Loop Capital reduced their target price on Mohawk Industries from $180.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $146.92.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 4,000 shares of Mohawk Industries stock in a transaction on Friday, December 13th. The stock was sold at an average price of $127.75, for a total transaction of $511,000.00. Following the completion of the sale, the insider now owns 108,084 shares of the company’s stock, valued at approximately $13,807,731. This trade represents a 3.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 17,078 shares of company stock valued at $2,203,387 in the last ninety days. 17.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mohawk Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Mohawk Industries in the 3rd quarter valued at about $36,000. Wilmington Savings Fund Society FSB bought a new stake in Mohawk Industries in the third quarter valued at approximately $55,000. Resona Asset Management Co. Ltd. acquired a new stake in Mohawk Industries during the 4th quarter valued at approximately $41,000. True Wealth Design LLC bought a new position in Mohawk Industries during the 3rd quarter worth approximately $61,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Mohawk Industries in the 3rd quarter worth approximately $73,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

About Mohawk Industries

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.