Mohawk Industries, Inc. (NYSE:MHK) is 4.35 points higher today and the only thing that matters is where they go from here. You simply have to look deeper than the share price and explore the fundamentals and future growth potential. The stock value has climbed by nearly 3.28% to $136.99 from its previous close of $132.64. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 746538 contracts so far this session. MHK shares had a relatively better volume day versus average trading capacity of 594.58 thousand shares, but with a 57.39 million float and a 1.64% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for MHK stock indicates that the average analyst price target is $152.2 per share. This means the stock has a potential increase of 11.1% from where the MHK share price has been trading recently.
During the recent trading session for Mohawk Industries, Inc. (NYSE:MHK), the company witnessed their stock rise $6.55 over a week and tumble down $-7.09 from the price 20 days ago. When compared to their established 52-week high of $156.6, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 07/25/19. The recent low of $108.93 stood for a -12.52% since 08/16/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.29 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Mohawk Industries, Inc., the two-week RSI stands at 55.52. This figure suggests that MHK stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current MHK readings is similarly very revealing as it has a stochastic reading of 45.57% at this stage. This figure means that MHK share price today is being neutral.
Technical chart claims that Mohawk Industries, Inc. (MHK) would settle between $133.66/share to $134.68/share level. However, if the stock price goes below the $131.71 mark, then the market for Mohawk Industries, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $130.78 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 2.07. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at JP Morgan raised their recommendation on shares of MHK from Underweight to Neutral in their opinion released on January 16. CFRA analysts bumped their rating on Mohawk Industries, Inc. (NYSE:MHK) stock from Sell to Hold in a separate flash note issued to investors on December 17. Analysts at Deutsche Bank, made their first call for the equity with a Hold recommendation, according to a research note that dated back to November 21.
MHK equity has an average rating of 2.61, with the figure leaning towards a bullish end. 18 analysts who tracked the company were contacted by Reuters. Amongst them, 7 rated the stock as a hold while the remaining 11 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 8 analysts rated Mohawk Industries, Inc. (NYSE:MHK) as a buy or a strong buy while 3 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, MHK stock price is currently trading at 12.55X forward 12-month Consensus EPS estimates, and its P/E ratio is 13.7 while for the average stock in the same group, the multiple is 16.3. Mohawk Industries, Inc. current P/B ratio of 1.2 means it is trading at a discount against its industry’s 2.8.
Mohawk Industries, Inc. (MHK)’s current-quarter revenues are projected to climb by nearly -2.7% to hit $2.43 billion, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 1.4% from $9.97 billion to a noteworthy $10.11 billion. At the other end of the current quarter income statement, Mohawk Industries, Inc. is expected to see its adjusted earnings surge by roughly -2.8% to hit $2.07 per share. For the fiscal year, MHK’s earnings are projected to climb by roughly 5.3% to hit $10.57 per share.