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

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

Several other equities analysts have also commented on the company. Deutsche Bank Aktiengesellschaft upgraded Mohawk Industries from a hold rating to a buy rating and increased their price objective for the company from $98.00 to $152.00 in a research report on Monday, February 12th. Barclays reduced their price objective on Mohawk Industries from $122.00 to $120.00 and set an equal weight rating on the stock in a research report on Monday, April 29th. Loop Capital reduced their price target on Mohawk Industries from $140.00 to $135.00 and set a buy rating on the stock in a research report on Monday, April 29th. The Goldman Sachs Group raised their target price on shares of Mohawk Industries from $105.00 to $120.00 and gave the stock a buy rating in a report on Thursday, January 11th. Finally, Truist Financial raised their target price on shares of Mohawk Industries from $127.00 to $140.00 and gave the stock a buy rating in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $121.33.

Mohawk Industries Stock Performance

NYSE:MHK opened at $118.04 on Friday. The business’s 50-day moving average price is $119.12 and its two-hundred day moving average price is $104.86. Mohawk Industries has a twelve month low of $76.02 and a twelve month high of $131.19. The company has a quick ratio of 1.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.86 EPS 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 positive return on equity of 7.72% and a negative net margin of 3.77%. The company’s revenue was down 4.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.75 EPS. As a group, equities research analysts predict that Mohawk Industries will post 9.54 earnings per share for the current year.

Insider Activity at Mohawk Industries

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 sale, the vice president now owns 15,321 shares in the company, valued at $1,831,012.71. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 17.10% of the stock is currently owned by company insiders.

Institutional Trading of Mohawk Industries

Large investors have recently added to or reduced their stakes in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Mohawk Industries by 4.9% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 14,874 shares of the company’s stock valued at $1,276,000 after buying an additional 700 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Mohawk Industries by 3,935.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 3,753 shares of the company’s stock valued at $322,000 after buying an additional 3,660 shares during the period. Xponance Inc. lifted its position in Mohawk Industries by 5.3% during the third quarter. Xponance Inc. now owns 8,930 shares of the company’s stock valued at $766,000 after buying an additional 446 shares during the period. Concord Wealth Partners lifted its position in Mohawk Industries by 23.6% during the third quarter. Concord Wealth Partners now owns 3,973 shares of the company’s stock valued at $341,000 after buying an additional 759 shares during the period. Finally, Mackenzie Financial Corp lifted its position in Mohawk Industries by 34.3% during the third quarter. Mackenzie Financial Corp now owns 6,579 shares of the company’s stock valued at $536,000 after buying an additional 1,680 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.