5 Best Housing Stocks To Buy In 2022

3. Mohawk Industries, Inc. (NYSE:MHK)

Number of Hedge Fund Holders: 38

Based in Calhoun, Georgia, Mohawk Industries, Inc. (NYSE:MHK) produces flooring products for residential and commercial customers in North America and Europe. Pzena Investment Management held a $282 million position in Mohawk Industries, Inc. (NYSE:MHK) as of Q3 2021, and is the leading stakeholder of the company from the 38 hedge funds that were bullish on the stock. 

Mohawk Industries, Inc. (NYSE:MHK) announced its Q4 results on February 10, posting earnings per share of $2.95, beating estimates by $0.09. The $2.76 billion revenue outperformed estimates by $39.40 million. 

On February 3, Truist analyst Keith Hughes lowered the price target on Mohawk Industries, Inc. (NYSE:MHK) to $200 from $236 but kept a Buy rating on the shares. The analyst is citing observations by industry participants at a recent trade show, suggesting that U.S. orders to end 2021 and early in 2022 were “weak”. He stated that Mohawk Industries, Inc. (NYSE:MHK) trades at an “exceptionally low multiple” of 6-times enterprise value to expected FY22, thus recommending the shares.