Mohawk Industries (NYSE:MHK) Raised to “Overweight” at JPMorgan Chase & Co.

Mohawk Industries (NYSE:MHK) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Friday, Marketbeat.com reports. The firm currently has a $161.00 price target on the stock, up from their prior price target of $151.00. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 36.37% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Barclays lowered their price objective on Mohawk Industries from $146.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Truist Financial lowered their price objective on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Royal Bank of Canada lowered their price objective on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. StockNews.com upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Loop Capital lowered their price objective on Mohawk Industries from $185.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, December 4th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Mohawk Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.92.

Mohawk Industries Trading Down 0.2 %

NYSE MHK opened at $118.06 on Friday. Mohawk Industries has a one year low of $96.28 and a one year high of $164.29. The business’s fifty day moving average is $130.32 and its 200-day moving average is $139.53. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 1.41 and a beta of 1.41. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 9,078 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $130.86, for a total transaction of $1,187,947.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 19,078 shares of company stock valued at $2,474,347. 17.10% of the stock is owned by corporate insiders.

Institutional Trading of Mohawk Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC boosted its stake in Mohawk Industries by 12.5% in the third quarter. Signaturefd LLC now owns 683 shares of the company’s stock worth $110,000 after buying an additional 76 shares in the last quarter. Quest Partners LLC boosted its stake in Mohawk Industries by 40.0% in the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after buying an additional 84 shares in the last quarter. Allworth Financial LP boosted its stake in Mohawk Industries by 20.6% in the third quarter. Allworth Financial LP now owns 626 shares of the company’s stock worth $101,000 after buying an additional 107 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in Mohawk Industries by 7.5% in the third quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company’s stock worth $266,000 after buying an additional 115 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Mohawk Industries by 1.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company’s stock worth $819,000 after buying an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

About Mohawk Industries

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.