Mohawk Industries (NYSE:MHK) Sets New 12-Month High at $127.75

Shares of Mohawk Industries, Inc. (NYSE:MHK) hit a new 52-week high during trading on Wednesday . The company traded as high as $127.75 and last traded at $127.70, with a volume of 61665 shares traded. The stock had previously closed at $125.10.

Analysts Set New Price Targets

A number of brokerages recently commented on MHK. TheStreet upgraded Mohawk Industries from a “d+” rating to a “c-” rating in a research report on Monday, March 4th. Royal Bank of Canada lifted their price objective on Mohawk Industries from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Monday, February 12th. StockNews.com upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Saturday, February 17th. Barclays boosted their target price on Mohawk Industries from $100.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Finally, Wells Fargo & Company decreased their target price on Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $117.56.

Mohawk Industries Price Performance

The company has a current ratio of 1.78, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. The firm has a market cap of $8.34 billion, a P/E ratio of -18.91 and a beta of 1.33. The company has a fifty day moving average price of $114.64 and a two-hundred day moving average price of $98.75.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Friday, February 9th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.10. Mohawk Industries had a positive return on equity of 7.52% and a negative net margin of 3.95%. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the business posted $1.32 EPS. Mohawk Industries’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities analysts anticipate that Mohawk Industries, Inc. will post 9.59 earnings per share for the current year.

Insider Activity

In other news, VP Rodney David Patton sold 1,551 shares of Mohawk Industries stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total transaction of $185,360.01. Following the transaction, the vice president now owns 15,321 shares in the company, valued at approximately $1,831,012.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 17.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mohawk Industries

Institutional investors have recently bought and sold shares of the company. Caxton Associates LP bought a new stake in Mohawk Industries in the 3rd quarter valued at approximately $1,170,000. Northern Trust Corp raised its stake in shares of Mohawk Industries by 4.0% during the 3rd quarter. Northern Trust Corp now owns 597,546 shares of the company’s stock worth $51,275,000 after purchasing an additional 23,070 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Mohawk Industries by 132.1% during the 2nd quarter. Renaissance Technologies LLC now owns 335,800 shares of the company’s stock worth $34,641,000 after purchasing an additional 191,100 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Mohawk Industries during the 3rd quarter worth approximately $397,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Mohawk Industries by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,435,283 shares of the company’s stock worth $208,972,000 after purchasing an additional 103,813 shares in the last quarter. Institutional investors own 78.98% of the company’s stock.

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.