MHK investors were likely spooked this afternoon by Barrons's report: "Mohawk Industries Issues Profit Warning Amid Low Demand and Plant Closures ..." For more coverage, read the full article here. On the back of this news, Mohawk Industries sank -6.2% to a price of $111.27. Are the markets overreacting?
Mohawk Industries, Inc. designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces in the United States, Europe, Russia, and internationally. The company belongs to the Consumer Cyclical sector, which has an average price to earnings (P/E) ratio of 24.11 and an average price to book (P/B) ratio of 3.11. In contrast, Mohawk Industries has a trailing 12 month P/E ratio of 41.4 and a P/B ratio of 0.9.
Mohawk Industries has moved -28.6% over the last year compared to -12.6% for the S&P 500 -- a difference of -16.0%. Mohawk Industries has a 52 week high of $169.6 and a 52 week low of $87.02. At today's price of $111.27 per share, Mohawk Industries is -0.39% away from its target price of $111.71, and on average, analysts give the stock a rating of hold. 3.8% of the company's shares are linked to short positions, and 78.9% of the shares are owned by institutional investors.
