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

Mohawk Industries (NYSE:MHK - Get Free Report) had its target price lowered by investment analysts at JPMorgan Chase & Co. from $156.00 to $139.00 in a report released on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 36.09% from the stock's previous close.

Several other research analysts also recently weighed in on the stock. Bank of America decreased their price target on shares of Mohawk Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday, February 10th. StockNews.com lowered Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Monday. The Goldman Sachs Group decreased their target price on shares of Mohawk Industries from $170.00 to $145.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Wells Fargo & Company decreased their price objective on Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Finally, Royal Bank of Canada decreased their price target on shares of Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating for the company in a report on Monday. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Mohawk Industries presently has an average rating of "Moderate Buy" and an average price target of $140.00.

Mohawk Industries Stock Up 0.7 %

Shares of MHK traded up $0.72 during trading hours on Tuesday, hitting $102.14. The company had a trading volume of 144,670 shares, compared to its average volume of 742,124. Mohawk Industries has a 52-week low of $96.24 and a 52-week high of $164.29. The firm has a fifty day moving average price of $109.82 and a 200-day moving average price of $122.21. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 1.44 and a beta of 1.24. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.11. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the firm earned $1.86 EPS. Mohawk Industries's revenue was down 5.7% on a year-over-year basis. On average, equities research analysts forecast that Mohawk Industries will post 9.8 EPS for the current fiscal year.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries stock in a transaction on Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the completion of the sale, the insider now owns 93,584 shares in the company, valued at approximately $10,616,168.96. The trade was a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 17.40% of the company's stock.

Institutional Investors Weigh In On Mohawk Industries

Several large investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Mohawk Industries during the third quarter valued at approximately $55,000. Resona Asset Management Co. Ltd. acquired a new stake in Mohawk Industries during the fourth quarter valued at approximately $41,000. R Squared Ltd bought a new position in shares of Mohawk Industries in the fourth quarter valued at $66,000. Huntington National Bank boosted its position in shares of Mohawk Industries by 27.4% in the 4th quarter. Huntington National Bank now owns 554 shares of the company's stock valued at $66,000 after purchasing an additional 119 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of Mohawk Industries by 36.2% in the first quarter. Allworth Financial LP now owns 595 shares of the company's stock worth $65,000 after buying an additional 158 shares during the period. Institutional investors and hedge funds own 78.98% of the company's stock.

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.

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