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

JPMorgan Chase & Co. upgraded shares of Mohawk Industries (NYSE:MHK) from a neutral rating to an overweight rating in a report published on Friday morning, MarketBeat reports. JPMorgan Chase & Co. currently has $161.00 price target on the stock, up from their prior price target of $151.00.

A number of other equities research analysts have also commented on the company. Jefferies Financial Group raised their price target on Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Barclays dropped their target price on shares of Mohawk Industries from $146.00 to $141.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Royal Bank of Canada reduced their price target on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a report on Monday, October 28th. Robert W. Baird upgraded shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $160.00 to $196.00 in a report on Monday, October 21st. Finally, StockNews.com raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.92.

Mohawk Industries Price Performance

MHK opened at $118.06 on Friday. The stock has a market cap of $7.45 billion, a P/E ratio of 13.37, a P/E/G 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. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $130.32 and a 200 day simple moving average of $139.53.

Insider Activity

In other news, insider Suzanne L. Helen sold 9,078 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $130.86, for a total value of $1,187,947.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 19,078 shares of company stock worth $2,474,347 in the last quarter. Corporate insiders own 17.10% of the company’s stock.

Institutional Trading of Mohawk Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. TD Asset Management Inc increased its stake in shares of Mohawk Industries by 4.2% during the 2nd quarter. TD Asset Management Inc now owns 9,903 shares of the company’s stock worth $1,125,000 after purchasing an additional 400 shares during the last quarter. Quest Partners LLC raised its stake in Mohawk Industries by 40.0% in the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after buying an additional 84 shares during the period. Daiwa Securities Group Inc. raised its stake 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 buying an additional 391 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Mohawk Industries in the second quarter valued at approximately $50,000. Finally, American Century Companies Inc. boosted its stake in shares of Mohawk Industries by 4.5% during the 2nd quarter. American Century Companies Inc. now owns 914,578 shares of the company’s stock worth $103,887,000 after acquiring an additional 39,653 shares during the period. 78.98% of the stock is 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.