Mohawk Industries (NYSE:MHK) Raised to “Overweight” at JPMorgan Chase & Co.

Mohawk Industries (NYSE:MHK) was upgraded by research 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 currently has a $161.00 price objective on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 36.23% from the company’s previous close.

MHK has been the subject of several other research reports. Royal Bank of Canada decreased their target price on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a research note on Monday, October 28th. Wells Fargo & Company decreased their target price on shares of Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Truist Financial decreased their price target on Mohawk Industries from $184.00 to $155.00 and set a “buy” 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 upped their target price for the stock from $160.00 to $196.00 in a research note on Monday, October 21st. Finally, Jefferies Financial Group increased their price objective on shares of Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Mohawk Industries presently has an average rating of “Moderate Buy” and a consensus target price of $158.92.

Mohawk Industries Trading Up 0.8 %

MHK opened at $118.18 on Friday. Mohawk Industries has a twelve month low of $96.28 and a twelve month high of $164.29. The company has a fifty day moving average of $130.97 and a 200-day moving average of $139.41. The stock has a market cap of $7.46 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 1.41 and a beta of 1.41. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22.

Insider Buying and Selling

In other Mohawk Industries news, insider Suzanne L. Helen sold 2,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $135.48, for a total transaction of $270,960.00. Following the sale, the insider now owns 2,453 shares of the company’s stock, valued at $332,332.44. The trade was a 44.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders sold 19,078 shares of company stock valued at $2,474,347. 17.10% of the stock is owned by insiders.

Institutional Trading of Mohawk Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. grew its holdings in Mohawk Industries by 8.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company’s stock valued at $13,583,000 after buying an additional 6,863 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Mohawk Industries by 2.5% in the third quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock valued at $485,983,000 after acquiring an additional 74,123 shares during the period. Maverick Capital Ltd. purchased a new position in Mohawk Industries during the second quarter valued at approximately $1,253,000. Natixis Advisors LLC increased its holdings in Mohawk Industries by 19.8% during the 3rd quarter. Natixis Advisors LLC now owns 87,477 shares of the company’s stock worth $14,056,000 after acquiring an additional 14,480 shares during the period. Finally, Thompson Siegel & Walmsley LLC lifted its stake in Mohawk Industries by 115.5% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 90,784 shares of the company’s stock worth $10,312,000 after purchasing an additional 48,653 shares in the last quarter. 78.98% of the stock is currently 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.