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

Mohawk Industries (NYSE:MHK - Get Free Report) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $156.00 to $139.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 30.69% from the stock's current price.

A number of other research analysts also recently weighed in on the company. The Goldman Sachs Group decreased their price target on Mohawk Industries from $170.00 to $145.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Wells Fargo & Company cut their price target on shares of Mohawk Industries from $130.00 to $105.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Raymond James restated a "strong-buy" rating and set a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Royal Bank of Canada cut their target price 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, May 5th. Finally, Evercore ISI reduced their target price on Mohawk Industries from $150.00 to $140.00 and set an "in-line" rating for the company in a research note on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $140.00.

Mohawk Industries Stock Up 1.2 %

Shares of NYSE:MHK traded up $1.25 during trading on Tuesday, hitting $106.36. 784,706 shares of the company's stock traded hands, compared to its average volume of 751,118. The company has a 50-day moving average price of $108.83 and a 200-day moving average price of $120.79. Mohawk Industries has a 52 week low of $96.24 and a 52 week high of $164.29. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its quarterly 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. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.56 billion. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. The business's revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.86 EPS. As a group, research analysts forecast that Mohawk Industries will post 9.8 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Citadel Investment Advisory Inc. lifted its holdings in Mohawk Industries by 0.8% in the first quarter. Citadel Investment Advisory Inc. now owns 12,848 shares of the company's stock valued at $1,467,000 after buying an additional 100 shares during the period. Huntington National Bank lifted its stake 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. Janus Henderson Group PLC boosted its position in shares of Mohawk Industries by 0.5% during the 4th quarter. Janus Henderson Group PLC now owns 25,659 shares of the company's stock valued at $3,054,000 after purchasing an additional 120 shares in the last quarter. Contravisory Investment Management Inc. lifted its stake in Mohawk Industries by 2.2% in the fourth quarter. Contravisory Investment Management Inc. now owns 5,711 shares of the company's stock valued at $680,000 after buying an additional 121 shares during the period. Finally, M&T Bank Corp grew its position in shares of Mohawk Industries by 3.8% during the 1st quarter. M&T Bank Corp now owns 3,315 shares of the company's stock worth $378,000 after buying an additional 122 shares during the period. 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.