Mohawk Industries (NYSE:MHK) Price Target Increased to $124.00 by Analysts at JPMorgan Chase & Co.

Mohawk Industries (NYSE:MHK) had its price target boosted by equities researchers at JPMorgan Chase & Co. from $122.00 to $124.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 6.56% from the stock’s previous close.

MHK has been the subject of several other reports. Barclays decreased their price objective on shares of Mohawk Industries from $122.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday. Wells Fargo & Company decreased their price objective on shares of Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating for the company in a report on Monday, January 22nd. Loop Capital decreased their price objective on shares of Mohawk Industries from $140.00 to $135.00 and set a “buy” rating for the company in a report on Monday. StockNews.com upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a report on Saturday, February 17th. Finally, The Goldman Sachs Group upped their price objective on shares of Mohawk Industries from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $121.33.

Mohawk Industries Trading Up 0.6 %

NYSE:MHK traded up $0.75 during midday trading on Friday, reaching $116.37. 422,179 shares of the stock traded hands, compared to its average volume of 707,686. The company has a fifty day moving average of $119.01 and a 200 day moving average of $104.03. Mohawk Industries has a 12 month low of $76.02 and a 12 month high of $131.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.83. The stock has a market capitalization of $7.43 billion, a P/E ratio of -17.79, a PEG ratio of 1.15 and a beta of 1.35.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.16. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the business posted $1.75 EPS. The firm’s revenue was down 4.5% compared to the same quarter last year. On average, research analysts predict that Mohawk Industries will post 9.54 EPS for the current year.

Insider Buying and Selling

In related news, VP Rodney David Patton sold 1,551 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total transaction of $185,360.01. Following the sale, the vice president now directly owns 15,321 shares of the company’s stock, valued at approximately $1,831,012.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.10% of the stock is owned by company insiders.

Institutional Trading of Mohawk Industries

Institutional investors have recently bought and sold shares of the company. Quarry LP grew its position in Mohawk Industries by 70.4% during the 4th quarter. Quarry LP now owns 421 shares of the company’s stock valued at $44,000 after purchasing an additional 174 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Mohawk Industries by 36.0% during the 3rd quarter. Huntington National Bank now owns 540 shares of the company’s stock valued at $46,000 after acquiring an additional 143 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Mohawk Industries by 88.1% during the 4th quarter. Allworth Financial LP now owns 521 shares of the company’s stock valued at $54,000 after acquiring an additional 244 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Mohawk Industries by 29.4% during the 4th quarter. Signaturefd LLC now owns 563 shares of the company’s stock valued at $58,000 after acquiring an additional 128 shares during the last quarter. Finally, Quent Capital LLC boosted its holdings in shares of Mohawk Industries by 27.2% during the 1st quarter. Quent Capital LLC now owns 496 shares of the company’s stock valued at $65,000 after acquiring an additional 106 shares during the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries Company Profile

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.