JPMorgan Chase & Co. Cuts Mohawk Industries (NYSE:MHK) Price Target to $139.00

Mohawk Industries (NYSE:MHK) had its target price reduced by JPMorgan Chase & Co. from $156.00 to $139.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently issued reports on MHK. Evercore ISI dropped their target price on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a research report on Monday, February 10th. StockNews.com cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Monday. Royal Bank of Canada dropped their price objective on shares of Mohawk Industries from $130.00 to $119.00 and set a “sector perform” rating for the company in a research note on Monday. Loop Capital lowered their price target on Mohawk Industries from $180.00 to $155.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, Bank of America reduced their target price on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Mohawk Industries presently has an average rating of “Moderate Buy” and a consensus price target of $140.00.

Mohawk Industries Trading Up 4.3 %

Shares of Mohawk Industries stock opened at $105.16 on Tuesday. The stock’s 50-day simple moving average is $108.96 and its 200 day simple moving average is $121.54. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. The stock has a market capitalization of $6.57 billion, a P/E ratio of 12.93, a P/E/G ratio of 1.44 and a beta of 1.24. Mohawk Industries has a 52-week low of $96.24 and a 52-week high of $164.29.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.41 by $0.11. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.56 billion. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. The company’s revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.86 EPS. As a group, research analysts anticipate that Mohawk Industries will post 9.8 EPS for the current year.

Insiders Place Their Bets

In related news, insider Suzanne L. Helen sold 10,500 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the sale, the insider now owns 93,584 shares of the company’s stock, valued at approximately $10,616,168.96. This trade represents a 10.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MHK. IFG Advisory LLC increased its holdings in shares of Mohawk Industries by 3.0% during the first quarter. IFG Advisory LLC now owns 31,168 shares of the company’s stock worth $3,559,000 after purchasing an additional 909 shares during the period. Natixis Advisors LLC increased its position in shares of Mohawk Industries by 8.6% during the first quarter. Natixis Advisors LLC now owns 83,607 shares of the company’s stock worth $9,546,000 after buying an additional 6,632 shares during the period. XTX Topco Ltd acquired a new stake in Mohawk Industries during the 1st quarter worth about $750,000. Federated Hermes Inc. grew its position in shares of Mohawk Industries by 326.3% during the 1st quarter. Federated Hermes Inc. now owns 243 shares of the company’s stock worth $28,000 after buying an additional 186 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in Mohawk Industries by 73.2% in the first quarter. Mackenzie Financial Corp now owns 3,117 shares of the company’s stock worth $356,000 after purchasing an additional 1,317 shares during the period. 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.