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

Mohawk Industries (NYSE:MHK) had its target price boosted by JPMorgan Chase & Co. from $122.00 to $124.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts also recently commented on the stock. Loop Capital cut their price target on shares of Mohawk Industries from $140.00 to $135.00 and set a buy rating for the company in a report on Monday, April 29th. Truist Financial boosted their target price on Mohawk Industries from $127.00 to $140.00 and gave the stock a buy rating in a research report on Monday, April 29th. Barclays decreased their target price on Mohawk Industries from $122.00 to $120.00 and set an equal weight rating on the stock in a research note on Monday, April 29th. Wells Fargo & Company cut their price objective on Mohawk Industries from $105.00 to $100.00 and set an underweight rating for the company in a report on Monday, January 22nd. Finally, Royal Bank of Canada upped their price objective on shares of Mohawk Industries from $106.00 to $108.00 and gave the stock a sector perform rating in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Mohawk Industries presently has a consensus rating of Hold and a consensus target price of $121.33.

Mohawk Industries Stock Up 0.6 %

Shares of NYSE:MHK traded up $0.75 during midday trading on Friday, reaching $116.37. 431,400 shares of the company traded hands, compared to its average volume of 674,742. The firm’s fifty day moving average price is $119.03 and its two-hundred day moving average price is $104.27. 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 has a 12 month low of $76.02 and a 12 month high of $131.19.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.16. Mohawk Industries had a positive return on equity of 7.72% and a negative net margin of 3.77%. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the prior year, the business posted $1.75 earnings per share. The company’s revenue was down 4.5% on a year-over-year basis. Analysts predict that Mohawk Industries will post 9.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Rodney David Patton sold 1,551 shares of Mohawk Industries stock in a transaction 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 transaction, the vice president now owns 15,321 shares in the company, valued at approximately $1,831,012.71. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Mohawk Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. grew its holdings in Mohawk Industries by 1,152.0% in the 4th quarter. Pacer Advisors Inc. now owns 796,736 shares of the company’s stock worth $82,462,000 after acquiring an additional 733,097 shares during the last quarter. Norges Bank bought a new stake in shares of Mohawk Industries in the fourth quarter worth about $68,050,000. Dimensional Fund Advisors LP increased its holdings in Mohawk Industries by 14.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,459,303 shares of the company’s stock valued at $254,543,000 after purchasing an additional 317,278 shares during the period. Paradice Investment Management LLC raised its position in Mohawk Industries by 52.4% during the 3rd quarter. Paradice Investment Management LLC now owns 518,513 shares of the company’s stock valued at $44,494,000 after purchasing an additional 178,310 shares during the last quarter. Finally, ARGA Investment Management LP lifted its holdings in Mohawk Industries by 50.8% in the 4th quarter. ARGA Investment Management LP now owns 500,159 shares of the company’s stock worth $51,766,000 after buying an additional 168,401 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.