Mohawk Industries (NYSE:MHK) Price Target Lowered to $156.00 at JPMorgan Chase & Co.

Mohawk Industries (NYSE:MHK) had its price objective lowered by JPMorgan Chase & Co. from $161.00 to $156.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts have also weighed in on the company. The Goldman Sachs Group lowered their price objective on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Loop Capital cut their price target on Mohawk Industries from $185.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, December 4th. Barclays dropped their price objective on shares of Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Monday. Bank of America cut their target price on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday. Finally, Robert W. Baird reduced their target price on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a research note on Monday. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $147.29.

Mohawk Industries Stock Down 2.2 %

Shares of MHK opened at $117.73 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. Mohawk Industries has a 52 week low of $104.88 and a 52 week high of $164.29. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.60 and a beta of 1.41. The stock has a fifty day moving average of $123.93 and a 200-day moving average of $140.53.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. As a group, sell-side analysts anticipate that Mohawk Industries will post 10.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 2,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total value of $270,960.00. Following the transaction, the insider now directly owns 2,453 shares in the company, valued at $332,332.44. This represents a 44.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 19,078 shares of company stock valued at $2,474,347 in the last 90 days. 17.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mohawk Industries

Hedge funds have recently bought and sold shares of the stock. FMR LLC grew its position in Mohawk Industries by 52.3% in the third quarter. FMR LLC now owns 2,179,510 shares of the company’s stock worth $350,204,000 after acquiring an additional 748,070 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Mohawk Industries by 33.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,011,861 shares of the company’s stock worth $162,586,000 after buying an additional 254,779 shares in the last quarter. Amundi grew its position in Mohawk Industries by 117.4% during the fourth quarter. Amundi now owns 331,750 shares of the company’s stock valued at $39,239,000 after acquiring an additional 179,121 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Mohawk Industries by 482.7% during the third quarter. Assenagon Asset Management S.A. now owns 137,122 shares of the company’s stock worth $22,033,000 after acquiring an additional 113,588 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Mohawk Industries by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock worth $485,983,000 after acquiring an additional 74,123 shares during the last quarter. 78.98% of the stock is currently owned by 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.