JPMorgan Chase & Co. Issues Pessimistic Forecast for Mohawk Industries (NYSE:MHK) Stock Price

Mohawk Industries (NYSE:MHK) had its price target lowered by equities researchers at JPMorgan Chase & Co. from $161.00 to $156.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 31.63% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. Royal Bank of Canada cut their price target on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a report on Monday, October 28th. StockNews.com cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Friday. Wolfe Research upgraded Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 target price on the stock in a report on Wednesday, January 8th. Robert W. Baird lowered their price target on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Barclays dropped their price target on shares of Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Monday. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.29.

Mohawk Industries Trading Down 1.5 %

NYSE MHK traded down $1.81 on Monday, hitting $118.52. The company’s stock had a trading volume of 254,397 shares, compared to its average volume of 793,513. The firm has a market cap of $7.48 billion, a PE ratio of 14.56, a PEG ratio of 1.60 and a beta of 1.41. The company’s 50-day moving average is $124.30 and its 200 day moving average is $140.65. The company has a quick ratio of 1.09, a current ratio of 2.03 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 announced its earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.00% and a net margin of 4.78%. As a group, analysts predict that Mohawk Industries will post 10.71 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Suzanne L. Helen sold 9,078 shares of the stock in a transaction 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 document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 19,078 shares of company stock worth $2,474,347. 17.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mohawk Industries

Large investors have recently added to or reduced their stakes in the company. Creative Planning increased its position in shares of Mohawk Industries by 7.6% during the 2nd quarter. Creative Planning now owns 2,914 shares of the company’s stock valued at $331,000 after purchasing an additional 207 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Mohawk Industries during the second quarter valued at approximately $371,000. CWM LLC raised its stake in shares of Mohawk Industries by 1,024.3% during the third quarter. CWM LLC now owns 7,443 shares of the company’s stock worth $1,196,000 after acquiring an additional 6,781 shares in the last quarter. Ritholtz Wealth Management bought a new stake in shares of Mohawk Industries in the 3rd quarter worth approximately $976,000. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Mohawk Industries by 2,773.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,523 shares of the company’s stock valued at $245,000 after purchasing an additional 1,470 shares in the last quarter. 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.