JPMorgan Chase & Co. Cuts Mohawk Industries (NYSE:MHK) Price Target to $156.00

Mohawk Industries (NYSE:MHK) had its target price lowered by JPMorgan Chase & Co. from $161.00 to $156.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

MHK has been the subject of several other research reports. StockNews.com lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Royal Bank of Canada dropped their price objective on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a report on Monday, October 28th. Robert W. Baird lowered their price target on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a report on Monday. Wells Fargo & Company lowered their price target on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, Barclays lowered their price target on shares of Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Monday. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.92.

Mohawk Industries Stock Performance

NYSE MHK opened at $116.77 on Monday. The firm has a market cap of $7.37 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 1.60 and a beta of 1.41. The company has a 50 day moving average of $123.32 and a 200-day moving average of $140.07. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. Mohawk Industries has a 1-year low of $104.88 and a 1-year high of $164.29.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.00%. On average, equities analysts forecast that Mohawk Industries will post 10.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 9,078 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total value of $1,187,947.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 19,078 shares of company stock valued at $2,474,347. 17.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mohawk Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Landscape Capital Management L.L.C. boosted its stake in Mohawk Industries by 86.2% in the fourth quarter. Landscape Capital Management L.L.C. now owns 25,458 shares of the company’s stock valued at $3,033,000 after acquiring an additional 11,784 shares during the last quarter. Bryce Point Capital LLC bought a new position in shares of Mohawk Industries during the fourth quarter worth $503,000. Huntington National Bank boosted its position in shares of Mohawk Industries by 27.4% during the fourth quarter. Huntington National Bank now owns 554 shares of the company’s stock worth $66,000 after purchasing an additional 119 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Mohawk Industries by 35.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company’s stock worth $162,793,000 after purchasing an additional 354,656 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Mohawk Industries by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,298,260 shares of the company’s stock worth $154,488,000 after purchasing an additional 22,736 shares in the last quarter. 78.98% of the stock is owned by institutional investors.

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.