Northcoast slashes price target on Mohawk Industries Inc. [MHK] – find out why.

Mohawk Industries Inc. [NYSE: MHK] gained 10.90% on the last trading session, reaching $103.19 price per share at the time. The company report on October 30, 2020 that Mohawk Industries, Inc. to Host Earnings Call.

NEW YORK, NY / ACCESSWIRE / October 30, 2020 / Mohawk Industries, Inc. (NYSE:MHK) will be discussing their earnings results in their 2020 Third Quarter Earnings call to be held on October 30, 2020 at 11:00 AM Eastern Time.

To listen to the event live or access a replay of the call – visit

Mohawk Industries Inc. represents 71.19 million in outstanding shares, while the company has a total market value of $6.62 billion with the latest information. MHK stock price has been found in the range of $98.40 to $109.95.

If compared to the average trading volume of 622.43K shares, MHK reached a trading volume of 1801453 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Mohawk Industries Inc. [MHK]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MHK shares is $103.07 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MHK stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Northcoast have made an estimate for Mohawk Industries Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 17, 2020. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $70 to $75. The new note on the price target was released on August 10, 2020, representing the official price target for Mohawk Industries Inc. stock. Previously, the target price had yet another raise to $77, while Deutsche Bank analysts kept a Sell rating on MHK stock.

The Average True Range (ATR) for Mohawk Industries Inc. is set at 5.12, with the Price to Sales ratio for MHK stock in the period of the last 12 months amounting to 0.71. The Price to Book ratio for the last quarter was 0.93, with the Price to Cash per share for the same quarter was set at 11.49. Price to Free Cash Flow for MHK in the course of the last twelve months was 7.20 with Quick ratio for the last quarter at 1.50.

Trading performance analysis for MHK stock

Mohawk Industries Inc. [MHK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.42. With this latest performance, MHK shares gained by 4.87% in over the last four-week period, additionally plugging by 21.41% over the last 6 months – not to mention a drop of -28.03% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MHK stock in for the last two-week period is set at 54.28, with the RSI for the last a single of trading hit 55.64, and the three-weeks RSI is set at 53.88 for Mohawk Industries Inc. [MHK]. The present Moving Average for the last 50 days of trading for this stock 98.45, while it was recorded at 97.02 for the last single week of trading, and 97.20 for the last 200 days.

Mohawk Industries Inc. [MHK]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Mohawk Industries Inc. [MHK] shares currently have an operating margin of +9.31 and a Gross Margin at +27.72. Mohawk Industries Inc.’s Net Margin is presently recorded at +7.46.

Return on Total Capital for MHK is now 8.54, given the latest momentum, and Return on Invested Capital for the company is 7.91. Return on Equity for this stock inclined to 9.57, with Return on Assets sitting at 5.62. When it comes to the capital structure of this company, Mohawk Industries Inc. [MHK] has a Total Debt to Total Equity ratio set at 35.84. Additionally, MHK Total Debt to Total Capital is recorded at 26.38, with Total Debt to Total Assets ending up at 21.74. Long-Term Debt to Equity for the company is recorded at 21.51, with the Long-Term Debt to Total Capital now at 15.83.

Reflecting on the efficiency of the workforce at the company, Mohawk Industries Inc. [MHK] managed to generate an average of $17,804 per employee. Receivables Turnover for the company is 6.37 with a Total Asset Turnover recorded at a value of 0.75.Mohawk Industries Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 2.50.

Mohawk Industries Inc. [MHK]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Mohawk Industries Inc. posted 2.75/share EPS, while the average EPS was predicted by analysts to be reported at 2.63/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MHK. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Mohawk Industries Inc. go to -10.23%.

An analysis of insider ownership at Mohawk Industries Inc. [MHK]

There are presently around $5,701 million, or 79.10% of MHK stock, in the hands of institutional investors. The top three institutional holders of MHK stocks are: VANGUARD GROUP INC with ownership of 6,398,769, which is approximately -2.55% of the company’s market cap and around 20.03% of the total institutional ownership; BLACKROCK INC., holding 4,549,284 shares of the stock with an approximate value of $469.44 million in MHK stocks shares; and FMR LLC, currently with $440.61 million in MHK stock with ownership of nearly 31.817% of the company’s market capitalization.

Positions in Mohawk Industries Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 188 institutional holders increased their position in Mohawk Industries Inc. [NYSE:MHK] by around 5,908,443 shares. Additionally, 240 investors decreased positions by around 6,231,335 shares, while 61 investors held positions by with 43,104,551 shares. The mentioned changes placed institutional holdings at 55,244,329 shares, according to the latest SEC report filing. MHK stock had 62 new institutional investments in for a total of 1,640,689 shares, while 70 institutional investors sold positions of 3,974,941 shares during the same period.

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