Mohawk Industries (NYSE:MHK) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Mohawk Industries (NYSE:MHK) issued its earnings results on Thursday. The company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.85 by $0.10, Zacks reports. Mohawk Industries had a return on equity of 8.05% and a net margin of 5.22%.

Mohawk Industries Price Performance

MHK traded up $0.97 on Thursday, reaching $121.81. The stock had a trading volume of 1,100,609 shares, compared to its average volume of 766,563. Mohawk Industries has a fifty-two week low of $101.83 and a fifty-two week high of $164.29. The firm has a 50-day moving average of $125.02 and a 200-day moving average of $140.65. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $7.69 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 1.60 and a beta of 1.41.

Analyst Ratings Changes

Several research analysts have recently commented on MHK shares. Wells Fargo & Company reduced their target price on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a research note on Tuesday. Wolfe Research upgraded Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price target for the company in a research note on Wednesday, January 8th. The Goldman Sachs Group reduced their price target on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Barclays cut their target price on Mohawk Industries from $141.00 to $130.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and upped their target price for the company from $151.00 to $161.00 in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $154.62.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 4,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $126.11, for a total value of $504,440.00. Following the completion of the sale, the insider now owns 104,084 shares of the company’s stock, valued at approximately $13,126,033.24. This represents a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 19,078 shares of company stock valued at $2,474,347 in the last 90 days. Corporate insiders own 17.10% 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.