Mohawk Industries (NYSE:MHK) Upgraded at JPMorgan Chase & Co.

Mohawk Industries (NYSE:MHK) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Friday,Briefing.com Automated Import reports. The firm presently has a $161.00 price target on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 36.23% from the company’s current price.

A number of other equities analysts have also commented on MHK. Loop Capital decreased their price target on shares of Mohawk Industries from $185.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, December 4th. Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and increased their target price for the company from $160.00 to $196.00 in a research note on Monday, October 21st. Wells Fargo & Company dropped their price target on Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Royal Bank of Canada reduced their price objective on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research report on Monday, October 28th. Finally, Jefferies Financial Group boosted their target price on Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mohawk Industries has a consensus rating of “Moderate Buy” and an average target price of $158.92.

Mohawk Industries Stock Up 0.8 %

Shares of NYSE MHK opened at $118.18 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average of $130.97 and a 200-day moving average of $139.41. The firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.41 and a beta of 1.41. Mohawk Industries has a 12 month low of $96.28 and a 12 month high of $164.29.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 9,078 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total value of $1,187,947.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 19,078 shares of company stock valued at $2,474,347 in the last quarter. Company insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. TD Asset Management Inc lifted its holdings in Mohawk Industries by 4.2% in the 2nd quarter. TD Asset Management Inc now owns 9,903 shares of the company’s stock worth $1,125,000 after buying an additional 400 shares during the period. Quest Partners LLC lifted its stake in Mohawk Industries by 40.0% in the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after acquiring an additional 84 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Mohawk Industries by 22.5% in the second quarter. Daiwa Securities Group Inc. now owns 2,131 shares of the company’s stock valued at $242,000 after acquiring an additional 391 shares in the last quarter. Headlands Technologies LLC purchased a new position in Mohawk Industries during the 2nd quarter valued at $50,000. Finally, American Century Companies Inc. raised its holdings in Mohawk Industries by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 914,578 shares of the company’s stock worth $103,887,000 after purchasing an additional 39,653 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

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.