Mohawk Industries (NYSE:MHK) Sets New 1-Year Low – Should You Sell?

Shares of Mohawk Industries, Inc. (NYSE:MHK) reached a new 52-week low on Friday . The stock traded as low as $103.05 and last traded at $101.97, with a volume of 140990 shares traded. The stock had previously closed at $107.84.

Wall Street Analyst Weigh In

Several analysts have weighed in on MHK shares. 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. Loop Capital dropped their target price on shares of Mohawk Industries from $180.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Bank of America dropped their target price on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Wolfe Research raised Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price target for the company in a research report on Wednesday, January 8th. Finally, StockNews.com cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Wednesday. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $145.07.

Mohawk Industries Stock Performance

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 business has a 50 day moving average price of $117.66 and a two-hundred day moving average price of $131.37. The company has a market cap of $6.57 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 10,500 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $113.44, for a total value of $1,191,120.00. Following the sale, the insider now directly owns 93,584 shares in the company, valued at approximately $10,616,168.96. This represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 17.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Mohawk Industries

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in Mohawk Industries in the third quarter valued at $55,000. Resona Asset Management Co. Ltd. purchased a new stake in Mohawk Industries during the 4th quarter worth approximately $41,000. Versant Capital Management Inc raised its stake in Mohawk Industries by 71.0% in the 4th quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock valued at $64,000 after purchasing an additional 223 shares during the last quarter. R Squared Ltd acquired a new position in Mohawk Industries during the fourth quarter worth about $66,000. Finally, Huntington National Bank increased its holdings in shares of Mohawk Industries by 27.4% in the fourth quarter. Huntington National Bank now owns 554 shares of the company’s stock valued at $66,000 after purchasing an additional 119 shares during the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

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.