Why Buy stock in Mohawk Industries Inc. (MHK)? – Marketing Sentinel

Why Buy stock in Mohawk Industries Inc. (MHK)?

Mohawk Industries Inc. (NYSE:MHK) has a beta value of 1.58 and has seen 1,992,373 shares traded in the last trading session. The company, currently valued at $15.43 Billion, closed the last trade at $221 per share which meant it gained $15.5 on the day or 7.54% during that session. The MHK stock price is -2.92% off its 52-week high price of $227.45 and 69.33% above the 52-week low of $67.79. If we look at the company’s 10-day average daily trading volume, we find that it stood at 427.25 Million shares traded. The 3-month trading volume is 542.26 Million shares.

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The consensus among analysts is that Mohawk Industries Inc. (MHK) is an Overweight stock at the moment, with a recommendation rating of 2.5. 1 analysts rate the stock as a Sell, while none rate it as Overweight. 5 out of 14 have rated it as a Hold, with 7 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is $3.26.

Mohawk Industries Inc. (NYSE:MHK) trade information

Sporting 7.54% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, May 03 when the MHK stock price touched $227.45 or saw a rise of 2.84%. Year-to-date, Mohawk Industries Inc. shares have moved 56.79%, while the 5-day performance has seen it change 6.91%. Over the past 30 days, the shares of Mohawk Industries Inc. (NYSE:MHK) have changed 11.46%. Short interest in the company has seen 1.23 Million shares shorted with days to cover at 0.

Wall Street analysts have a consensus price target for the stock at $217.31, which means that the shares’ value could jump -1.67% from current levels. The projected low price target is $154 while the price target rests at a high of $250. In that case, then, we find that the current price level is +13.12% off the targeted high while a plunge would see the stock lose -30.32% from current levels.

Mohawk Industries Inc. (MHK) estimates and forecasts

Figures show that Mohawk Industries Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained +137.51% over the past 6 months, with this year growth rate of 36.35%, compared to 10.2% for the industry. Other than that, the company has, however Increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 781.1% and -1.5% for the next quarter. Revenue growth from the last financial year stood is estimated to be +10.3%.

13 analysts offering their estimates for the company have set an average revenue estimate of $2.65 Billion for the current quarter. 13 have an estimated revenue figure of $2.68 Billion for the next quarter concluding in September 01, 2021. Year-ago sales stood $1.86 Billion for this quarter, and analysts expect sales will grow by 42.4% for the current quarter.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -2.8% over the past 5 years. Earnings growth for 2021 is a modest -29.9% while over the next 5 years, the company’s earnings are expected to increase by 4%.

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Mohawk Industries Inc. (NYSE:MHK)’s Major holders

Insiders own 19% of the company shares, while shares held by institutions stand at 78.97% with a share float percentage of 97.5%. Investors are also buoyed by the number of investors in a company, with Mohawk Industries Inc. having a total of 736 institutions that hold shares in the company. The top two institutional holders are FMR, LLC with over 6.33 Million shares worth more than $892.82 Million. As of December 30, 2020, FMR, LLC held 9.08% of shares outstanding.

The other major institutional holder is Vanguard Group Inc. (The), with the holding of over 6.05 Million shares as of December 30, 2020. The firm’s total holdings are worth over $852.49 Million and represent 8.67% of shares outstanding.

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Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Fidelity Low-Priced Stock Fund. As of December 30, 2020, the former fund manager holds about 2.31% shares in the company for having 1609257 shares of worth $226.82 Million while later fund manager owns 1.55 Million shares of worth $222.33 Million as of January 30, 2021, which makes it owner of about 2.22% of company’s outstanding stock.

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