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Here's Why Mohawk Industries (MHK) is a Strong Momentum Stock

Zacks Equity Research
·2-min read

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Is This 1 Momentum Stock a Screaming Buy Right Now?

For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

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Mohawk Industries (MHK)

Mohawk Industries, Inc. is a leading global manufacturer of flooring products that enhance residential and commercial space. The company manufactures carpet, rugs, ceramic tile, laminate, wood, stone and vinyl flooring. It has a global presence with operations in Australia, Brazil, Canada, Europe, India, Malaysia, Mexico, New Zealand, Russia and the United States.

MHK sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of B, and has a VGM Score of A. The stock is down 2.8% and up 5.4% over the past one-week and four-week period, respectively, and Mohawk Industries has gained 24.9% in the last one-year period as well. Additionally, an average of 616,842.50 shares were traded over the last 20 trading sessions.

Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Four analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.09 to $9.68 per share. MHK boasts an average earnings surprise of 5.6%.

MHK should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.

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Mohawk Industries, Inc. (MHK) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research