JPMorgan Chase & Co. Boosts Mohawk Industries (NYSE:MHK) Price Target to $124.00

Mohawk Industries (NYSE:MHK) had its price objective lifted by JPMorgan Chase & Co. from $122.00 to $124.00 in a research report released on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

MHK has been the subject of several other research reports. Barclays decreased their target price on Mohawk Industries from $122.00 to $120.00 and set an equal weight rating for the company in a research note on Monday, April 29th. Wells Fargo & Company decreased their price target on shares of Mohawk Industries from $105.00 to $100.00 and set an underweight rating for the company in a research note on Monday, January 22nd. Truist Financial raised their price objective on shares of Mohawk Industries from $127.00 to $140.00 and gave the stock a buy rating in a research report on Monday, April 29th. TheStreet raised shares of Mohawk Industries from a d+ rating to a c- rating in a report on Monday, March 4th. Finally, The Goldman Sachs Group boosted their price target on Mohawk Industries from $105.00 to $120.00 and gave the company a buy rating in a research report on Thursday, January 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $121.33.

Mohawk Industries Stock Up 1.3 %

NYSE:MHK traded up $1.56 during mid-day trading on Friday, hitting $117.93. The stock had a trading volume of 391,546 shares, compared to its average volume of 703,471. Mohawk Industries has a twelve month low of $76.02 and a twelve month high of $131.19. The stock has a 50-day simple moving average of $119.03 and a two-hundred day simple moving average of $104.58. The company has a quick ratio of 1.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the previous year, the company earned $1.75 EPS. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. As a group, analysts expect that Mohawk Industries will post 9.54 EPS for the current fiscal year.

Insider Buying and Selling

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $1,831,012.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 17.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MHK. Texas Permanent School Fund Corp raised its position in Mohawk Industries by 0.9% during the first quarter. Texas Permanent School Fund Corp now owns 10,927 shares of the company’s stock worth $1,430,000 after acquiring an additional 98 shares during the last quarter. Fifth Third Bancorp increased its position in Mohawk Industries by 5.5% during the 4th quarter. Fifth Third Bancorp now owns 2,006 shares of the company’s stock worth $208,000 after purchasing an additional 105 shares in the last quarter. Quent Capital LLC raised its stake in Mohawk Industries by 27.2% in the 1st quarter. Quent Capital LLC now owns 496 shares of the company’s stock valued at $65,000 after purchasing an additional 106 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in Mohawk Industries by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 23,225 shares of the company’s stock valued at $1,993,000 after purchasing an additional 120 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Mohawk Industries by 29.4% during the 4th quarter. Signaturefd LLC now owns 563 shares of the company’s stock worth $58,000 after purchasing an additional 128 shares during the last quarter. Institutional investors and hedge funds 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.