Is Mohawk Industries, Inc.’s Latest Move For Real? The Stock Was Sold By Option Traders Today

 Is Mohawk Industries, Inc.'s Latest Move For Real? The Stock Was Sold By Option Traders Today

In today’s session Mohawk Industries, Inc. (MHK) recorded an unusually high (672) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the December, 2016 put, expecting serious MHK decrease. With 672 contracts traded and 7864 open interest for the Dec, 16 contract, it seems this is a quite bearish bet. The option with symbol: MHK161216P00200000 closed last at: $4.4 or 8.3% down. About 60,457 shares traded hands. Mohawk Industries, Inc. (NYSE:MHK) has risen 1.72% since April 21, 2016 and is uptrending. It has underperformed by 3.61% the S&P500.

Analysts await Mohawk Industries, Inc. (NYSE:MHK) to report earnings on February, 23. They expect $3.23 earnings per share, up 14.54% or $0.41 from last year’s $2.82 per share. MHK’s profit will be $240.14 million for 15.51 P/E if the $3.23 EPS becomes a reality. After $3.50 actual earnings per share reported by Mohawk Industries, Inc. for the previous quarter, Wall Street now forecasts -7.71% negative EPS growth.

Mohawk Industries, Inc. (NYSE:MHK) Ratings Coverage

Out of 12 analysts covering Mohawk (NYSE:MHK), 9 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 75% are positive. $244 is the highest target while $185 is the lowest. The $218.27 average target is 8.91% above today’s ($200.41) stock price. Mohawk has been the topic of 18 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The company was maintained on Monday, August 10 by Stifel Nicolaus. On Thursday, April 7 the stock rating was maintained by Barclays Capital with “Overweight”. The stock of Mohawk Industries, Inc. (NYSE:MHK) has “Outperform” rating given on Monday, August 10 by RBC Capital Markets. The rating was maintained by Barclays Capital on Tuesday, October 13 with “Outperform”. The rating was downgraded by JP Morgan to “Neutral” on Tuesday, March 15. RBC Capital Markets maintained Mohawk Industries, Inc. (NYSE:MHK) rating on Monday, November 9. RBC Capital Markets has “Outperform” rating and $211 price target. The firm earned “Hold” rating on Tuesday, May 24 by Topeka Capital Markets. Wells Fargo initiated the stock with “Market Perform” rating in Thursday, September 29 report. The rating was upgraded by Bank of America to “Buy” on Wednesday, October 12. Robert W. Baird initiated the stock with “Outperform” rating in Tuesday, November 3 report.

According to Zacks Investment Research, “Mohawk Industries, Inc. is one of the leading producers of woven and tufted broadloom carpet and rugs for principally residential applications. The company designs, manufactures and markets carpet and rugs in a broad range of colors, textures and patterns. The company is widely recognized through its premier brand names, some of which are Mohawk, Aladdin, American Rug Craftsmen, American Weavers, Bigelow, and Custom Weave.”

Insitutional Activity: The institutional sentiment decreased to 1.18 in Q2 2016. Its down 0.05, from 1.23 in 2016Q1. The ratio is negative, as 31 funds sold all Mohawk Industries, Inc. shares owned while 150 reduced positions. 68 funds bought stakes while 154 increased positions. They now own 56.04 million shares or 7.09% less from 60.31 million shares in 2016Q1.
The New York-based Ruane Cunniff & Goldfarb Inc has invested 4.43% in Mohawk Industries, Inc. (NYSE:MHK). Sandy Spring National Bank & Trust has 0% invested in the company for 151 shares. Conning Inc accumulated 1,553 shares or 0.01% of the stock. Moreover, Stevens Capital Mgmt Lp has 0.04% invested in Mohawk Industries, Inc. (NYSE:MHK) for 5,278 shares. Zweig Advisers Ltd last reported 1.18% of its portfolio in the stock. Amp last reported 17,088 shares in the company. State Treasurer State Of Michigan has invested 0.03% of its portfolio in Mohawk Industries, Inc. (NYSE:MHK). Credit Agricole S A accumulated 0.09% or 123,154 shares. Parkside State Bank And Tru has 60 shares for 0.01% of their US portfolio. Brown Advisory last reported 2,876 shares in the company. Dupont Corporation last reported 13,000 shares in the company. Goldman Sachs Grp Incorporated Inc holds 298,486 shares or 0.02% of its portfolio. Mizuho Tru And Bk Limited has 99,687 shares for 0.06% of their US portfolio. Saybrook Nc last reported 10,460 shares in the company. Johnson Financial Group Inc last reported 89 shares in the company.

Insider Transactions: Since June 7, 2016, the stock had 0 insider buys, and 10 insider sales for $10.97 million net activity. 10,236 shares with value of $2.05 million were sold by WELLBORN CHISTOPHER on Tuesday, June 7. $1.99 million worth of Mohawk Industries, Inc. (NYSE:MHK) was sold by HELEN SUZANNE L. The insider De Cock Frans Georges sold $784,140. $330,438 worth of Mohawk Industries, Inc. (NYSE:MHK) was sold by Patton Rodney David. Carson Brian sold $416,124 worth of Mohawk Industries, Inc. (NYSE:MHK) on Monday, August 8.

Mohawk Industries, Inc. is a flooring maker that creates products for residential and commercial spaces around the world. The company has a market cap of $14.90 billion. The Company’s manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring. It has a 16.82 P/E ratio. It operates in three divisions: Global Ceramic, which designs, makes, sources, distributes and markets a line of ceramic tile, porcelain tile and natural stone products; Flooring North America (Flooring NA), which designs, makes, sources, distributes and markets carpet, laminate, carpet pad, rugs, hardwood and vinyl, including LVT, in a range of colors, textures and patterns, and Flooring Rest of the World (Flooring ROW), which designs, makes, sources, distributes and markets laminate, hardwood flooring, roofing elements, insulation boards, medium-density fiberboard, chipboards and vinyl flooring products.

MHK Company Profile

Mohawk Industries, Inc. (Mohawk), incorporated on December 22, 1988, is a flooring maker that creates products for residential and commercial spaces around the world. The Firm operates in three divisions: Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). The Company’s manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile (LVT) and vinyl flooring. The Company’s trademarks include American Olean, Bigelow, Daltile, Durkan, IVC, Karastan, Lees, Marazzi, Mohawk, Pergo, Quick-Step and Unilin. Mohawk has activities in Australia, Brazil, Canada, Europe, India, Malaysia, Mexico, New Zealand, Russia and the United States.

More recent Mohawk Industries, Inc. (NYSE:MHK) news were published by: Prnewswire.com which released: “Mohawk Industries Reports Record Third Quarter” on November 03, 2016. Also Prnewswire.com published the news titled: “Mohawk Industries Reports Record Second Quarter” on August 04, 2016. Forbes.com‘s news article titled: “Mohawk Industries Enters Oversold Territory (MHK)” with publication date: October 11, 2016 was also an interesting one.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment