Mohawk Industries (NYSE:MHK) PT Raised to $124.00

Mohawk Industries (NYSE:MHK) had its target price increased by investment analysts at JPMorgan Chase & Co. from $122.00 to $124.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 6.56% from the stock’s current price.

Several other equities research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Mohawk Industries from a “hold” rating to a “buy” rating and boosted their price objective for the company from $98.00 to $152.00 in a report on Monday, February 12th. StockNews.com upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a report on Saturday, February 17th. Royal Bank of Canada upped their target price on shares of Mohawk Industries from $106.00 to $108.00 and gave the stock a “sector perform” rating in a report on Monday, April 29th. Wells Fargo & Company cut their price target on Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating for the company in a research note on Monday, January 22nd. Finally, The Goldman Sachs Group increased their price objective on Mohawk Industries from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $121.33.

Mohawk Industries Trading Up 0.6 %

Mohawk Industries stock opened at $116.37 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22. The firm’s fifty day moving average is $119.03 and its 200 day moving average is $104.42. 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 data 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. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.64 billion. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.75 earnings per share. As a group, research analysts predict that Mohawk Industries will post 9.54 EPS for the current fiscal year.

Insider Buying and Selling at Mohawk Industries

In other news, VP Rodney David Patton sold 1,551 shares of Mohawk Industries stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total transaction of $185,360.01. Following the sale, the vice president now directly owns 15,321 shares in the company, valued at approximately $1,831,012.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Mohawk Industries

Several large investors have recently modified their holdings of the stock. Quarry LP grew its holdings in Mohawk Industries by 70.4% during the fourth quarter. Quarry LP now owns 421 shares of the company’s stock valued at $44,000 after purchasing an additional 174 shares during the period. Huntington National Bank increased its holdings in Mohawk Industries by 36.0% in the 3rd quarter. Huntington National Bank now owns 540 shares of the company’s stock worth $46,000 after acquiring an additional 143 shares during the last quarter. Allworth Financial LP raised its stake in Mohawk Industries by 88.1% in the 4th quarter. Allworth Financial LP now owns 521 shares of the company’s stock valued at $54,000 after acquiring an additional 244 shares during the period. Signaturefd LLC lifted its holdings in Mohawk Industries by 29.4% during the fourth quarter. Signaturefd LLC now owns 563 shares of the company’s stock valued at $58,000 after purchasing an additional 128 shares during the last quarter. Finally, Quent Capital LLC boosted its position in Mohawk Industries by 27.2% during the first quarter. Quent Capital LLC now owns 496 shares of the company’s stock worth $65,000 after purchasing an additional 106 shares during the period. Hedge funds and other 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.