Mohawk Industries, Inc. (NYSE:MHK) Short Interest Up 44.2% in April

Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) saw a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 2,120,000 shares, a growth of 44.2% from the March 31st total of 1,470,000 shares. Approximately 4.2% of the shares of the stock are sold short. Based on an average daily volume of 813,300 shares, the short-interest ratio is currently 2.6 days.

Mohawk Industries Price Performance

Mohawk Industries stock opened at $107.06 on Wednesday. Mohawk Industries has a 12 month low of $96.24 and a 12 month high of $164.29. The stock's 50 day moving average is $110.81 and its 200-day moving average is $124.01. 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 company has a market capitalization of $6.69 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.44 and a beta of 1.23.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its 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%. Equities research analysts expect that Mohawk Industries will post 9.8 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MHK. Loop Capital reduced their target price on shares of Mohawk Industries from $180.00 to $155.00 and set a "buy" rating on the stock in a research report on Monday, February 10th. The Goldman Sachs Group cut their price objective on shares of Mohawk Industries from $170.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. cut their price objective on shares of Mohawk Industries from $161.00 to $156.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Bank of America cut their price objective 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. Finally, StockNews.com upgraded shares of Mohawk Industries from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Mohawk Industries currently has a consensus rating of "Moderate Buy" and a consensus target price of $142.57.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the transaction, the insider now directly owns 93,584 shares in the company, valued at approximately $10,616,168.96. This represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 17.40% of the company's stock.

Institutional Investors Weigh In On Mohawk Industries

A number of large investors have recently added to or reduced their stakes in the stock. ARGA Investment Management LP grew its position in Mohawk Industries by 31.8% during the first quarter. ARGA Investment Management LP now owns 15,567 shares of the company's stock worth $1,777,000 after buying an additional 3,760 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Mohawk Industries by 27.7% during the first quarter. Envestnet Asset Management Inc. now owns 93,230 shares of the company's stock worth $10,645,000 after purchasing an additional 20,230 shares during the last quarter. Truist Financial Corp lifted its stake in Mohawk Industries by 7.9% during the first quarter. Truist Financial Corp now owns 403,936 shares of the company's stock worth $46,121,000 after purchasing an additional 29,480 shares during the last quarter. D.A. Davidson & CO. lifted its stake in Mohawk Industries by 57.5% during the first quarter. D.A. Davidson & CO. now owns 4,880 shares of the company's stock worth $557,000 after purchasing an additional 1,781 shares during the last quarter. Finally, RBA Wealth Management LLC bought a new stake in Mohawk Industries during the first quarter worth $3,502,000. 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.

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