Mohawk Industries (NYSE:MHK) Price Target Increased to $124.00 by Analysts at JPMorgan Chase & Co.

Mohawk Industries (NYSE:MHK - Get Free Report) had its price target boosted by JPMorgan Chase & Co. from $122.00 to $124.00 in a report released on Friday, Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 6.56% from the company's previous close.

MHK has been the topic of a number of other research reports. Wells Fargo & Company decreased their target price on shares of Mohawk Industries from $105.00 to $100.00 and set an "underweight" rating on the stock in a research report on Monday, January 22nd. StockNews.com upgraded shares of Mohawk Industries from a "hold" rating to a "buy" rating in a research report on Saturday, February 17th. Loop Capital reduced their price target on shares of Mohawk Industries from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Monday. The Goldman Sachs Group increased their price target on shares of Mohawk Industries from $105.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, January 11th. Finally, Barclays reduced their price target on shares of Mohawk Industries from $122.00 to $120.00 and set an "equal weight" rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $121.33.

Mohawk Industries Stock Performance

MHK traded up $0.75 on Friday, reaching $116.37. The company had a trading volume of 422,179 shares, compared to its average volume of 707,686. Mohawk Industries has a fifty-two week low of $76.02 and a fifty-two week high of $131.19. The stock has a market cap of $7.43 billion, a P/E ratio of -17.79, a P/E/G ratio of 1.15 and a beta of 1.35. The company's fifty day moving average is $119.01 and its 200 day moving average is $104.03. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.83.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its earnings results on Thursday, April 25th. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the prior year, the business posted $1.75 EPS. The business's revenue was down 4.5% compared to the same quarter last year. As a group, analysts predict that Mohawk Industries will post 9.54 earnings per share for the current fiscal year.

Insider Activity at Mohawk Industries

In related news, VP Rodney David Patton sold 1,551 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total value of $185,360.01. Following the completion of the transaction, the vice president now owns 15,321 shares of the company's stock, valued at approximately $1,831,012.71. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 17.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Mohawk Industries

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Mohawk Industries by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 6,240,136 shares of the company's stock valued at $645,854,000 after acquiring an additional 39,143 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Mohawk Industries by 14.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,459,303 shares of the company's stock worth $254,543,000 after buying an additional 317,278 shares during the period. JPMorgan Chase & Co. increased its position in shares of Mohawk Industries by 4.5% during the third quarter. JPMorgan Chase & Co. now owns 2,435,283 shares of the company's stock worth $208,972,000 after buying an additional 103,813 shares during the period. Ariel Investments LLC increased its position in shares of Mohawk Industries by 3.9% during the third quarter. Ariel Investments LLC now owns 2,059,100 shares of the company's stock worth $176,691,000 after buying an additional 77,974 shares during the period. Finally, Invesco Ltd. increased its position in shares of Mohawk Industries by 9.7% during the third quarter. Invesco Ltd. now owns 1,759,210 shares of the company's stock worth $150,958,000 after buying an additional 156,230 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.

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