Mohawk Industries (MHK) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.
Flooring manufacturer Mohawk Industries (NYSE: MHK) is riding the housing boom, last week reporting better-than-expected earnings. Over the weekend, analysts bet that the strong performance would continue, causing the stock to surge 10% higher at the open Monday. On the company's post-earnings call, CEO Jeff Lorberbaum attributed the beat to the red-hot housing and home improvement market, and said he's optimistic that post-pandemic business reopenings will help to fuel increased demand in the quarters to come.
MHK earnings call for the period ending March 31, 2021.