The stock of Mohawk Industries Inc. (NYSE:MHK) decreased by -$0.59 on Friday to finish at $102.48, down -0.57 percent. The last five days have seen an average of 493,540 shares of common stock traded. 10 times new highs were reached in the current year, with a gain of $0.26. The average number of shares traded over the last 20 days was 800,710, while the average volume over the last 50 days totaled 744,360.
MHK stock dropped -10.78% since last month. On 08/11/23, the company’s shares reached a one-month low of $101.57. The stock touched a high of $130.63 on 02/02/23, after rallying from a low of $87.01 in 52 weeks. The price of MHK stock has risen by 0.25% or $0.26 this year, reaching a new high 10 times. Still, the stock price is down -21.55% from the 52-week high.
Insider Transactions
MHK stock investors should be aware that Mohawk Industries Inc. (MHK) stock had its last reported insider trading activity 14 days ago on Jul 31. On Jul 31, VP BUSINESS STRATEGY Patton Rodney David sold 2,600 shares at $106.76 each. This transaction resulted in the insider making $277,571. On Feb 27, HELEN SUZANNE L sold 4,250 shares at a price of US$103.23. After the transaction, the insider now owns 13,453 shares. VP BUSINESS STRATEGY Patton Rodney David had earlier sold 1,261 shares on Feb 21 for $107.15 a share. The transaction was completed for $135,115.
Valuation Metrics
Beta for the stock is 1.32. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.58, the price-to-book (PB) ratio of 0.80, and the price-to-cash flow ratio of 14.86.
Financial Health
For the three months ended June 29, Mohawk Industries Inc.’s quick ratio was 1.00, while its current ratio was 1.80, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.25, and the total debt to equity ratio is 0.37. As far as profitability goes, gross margin for the trailing twelve months is 24.50% percent. Mohawk Industries Inc.’s EBITDA margin for the year ended June 29 was 14.23%, whereas its operating margin stood at -1.50% for the same period. Based on annual data, it had gross profit of $2.94 billion and revenue of $11.74 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. MHK’s return on assets (ROA) during the last 12 months has been -2.20%. There was a 0.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -4.00%.
Earnings Surprise
According to Mohawk Industries Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $2.95 billion, while revenues fell by -6.87% to $2.81 billion. It was predicted that Mohawk Industries Inc.’s quarterly earnings would be $2.76, but it ended up being $2.65, beating the consensus by 4.20%. EBITDA was $309.68 million for the quarter. At the end of Mohawk Industries Inc.’s most recent quarter ended June 29, its liabilities totaled 6.37 billion, while its total debt was $3.47 billion. Equity owned by shareholders amounts to $63.68 million.
Technical Picture
Here’s a quick look at Mohawk Industries Inc.’s (MHK) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 33.33%, suggesting the stock is Neutral, with a 19.81% historical volatility rate.
The stochastic %K and %D were 5.28% and 10.36% respectively, while the average true range (ATR) was 3.02. Based on the 14-day stochastic reading of 5.40%, the RSI (14) reading is 40.35%. On the 9-day MACD Oscillator, the stock is at -1.92, and the 14-day reading is at -4.24.
Analyst Ratings
In its most recent analyst report, Loop Capital raised its rating on Mohawk Industries Inc. (NYSE: MHK) to a Buy. Prior to this, analysts firm rated the stock as a Hold. Analysts have assigned Mohawk Industries Inc. (MHK) an Hold rating. MHK is a stock that is recommended for selling by 2 brokerage firms, while 10 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 0 rates it overweight and 3 others recommend it as a buy.
What is MHK’s price target for the next 12 months?
The current consensus forecast for the stock is between $92.00 and $130.00, with a median target price of $128.00. In analyzing these forecasts, the average price target given by analysts for Mohawk Industries Inc. (MHK) is $119.15.
