Mohawk Industries (NYSE:MHK) Sets New 52-Week Low – Time to Sell?

Mohawk Industries, Inc. (NYSE:MHK)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $96.24 and last traded at $108.86, with a volume of 1561915 shares changing hands. The stock had previously closed at $98.63.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Mohawk Industries in a research report on Tuesday, April 1st. They issued a “hold” rating and a $121.00 price target for the company. StockNews.com downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. Bank of America lowered their price target on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Loop Capital dropped their price target on shares of Mohawk Industries from $180.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Finally, The Goldman Sachs Group reduced their price objective on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $144.36.

Mohawk Industries Stock Performance

The stock has a fifty day moving average price of $114.44 and a 200 day moving average price of $128.44. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23.

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

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries 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 transaction, the insider now directly owns 93,584 shares of the company’s stock, valued at $10,616,168.96. The trade was a 10.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MHK. Wilmington Savings Fund Society FSB bought a new position in Mohawk Industries during the third quarter valued at about $55,000. Resona Asset Management Co. Ltd. bought a new stake in shares of Mohawk Industries in the 4th quarter worth approximately $41,000. Versant Capital Management Inc grew its holdings in shares of Mohawk Industries by 71.0% during the 4th quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock worth $64,000 after purchasing an additional 223 shares in the last quarter. R Squared Ltd bought a new stake in shares of Mohawk Industries during the fourth quarter valued at approximately $66,000. Finally, Huntington National Bank raised its stake 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 in the last quarter. Institutional investors and hedge funds 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.