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

Mohawk Industries (NYSE:MHK - Get Free Report) had its target price dropped by investment analysts at JPMorgan Chase & Co. from $161.00 to $156.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 30.74% from the stock's current price.

Several other research analysts have also recently weighed in on MHK. Barclays cut their price objective on Mohawk Industries from $130.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Monday. Wolfe Research raised shares of Mohawk Industries from a "peer perform" rating to an "outperform" rating and set a $150.00 price target on the stock in a report on Wednesday, January 8th. StockNews.com lowered shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Robert W. Baird lowered their price objective on shares of Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating on the stock in a research report on Monday. Finally, Bank of America reduced their target price on shares of Mohawk Industries from $152.00 to $150.00 and set a "buy" rating for the company in a research report on Monday. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Mohawk Industries has an average rating of "Moderate Buy" and a consensus target price of $146.92.

Mohawk Industries Stock Up 2.2 %

Shares of MHK stock traded up $2.57 on Monday, hitting $119.32. The stock had a trading volume of 353,200 shares, compared to its average volume of 822,052. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09. The business has a 50 day moving average of $123.32 and a 200 day moving average of $140.07. Mohawk Industries has a 12-month low of $104.88 and a 12-month high of $164.29. The stock has a market cap of $7.53 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 1.60 and a beta of 1.41.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings data 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 net margin of 4.78% and a return on equity of 8.00%. As a group, analysts expect that Mohawk Industries will post 10.71 EPS for the current year.

Insider Activity

In related news, insider Suzanne L. Helen sold 2,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was 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 approximately $332,332.44. This represents a 44.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 19,078 shares of company stock worth $2,474,347. 17.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mohawk Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Mohawk Industries by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,229,786 shares of the company's stock valued at $742,154,000 after acquiring an additional 20,327 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Mohawk Industries by 6.3% in the 4th quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company's stock valued at $383,076,000 after purchasing an additional 191,077 shares during the period. FMR LLC grew its position in shares of Mohawk Industries by 52.3% during the 3rd quarter. FMR LLC now owns 2,179,510 shares of the company's stock valued at $350,204,000 after purchasing an additional 748,070 shares in the last quarter. State Street Corp increased its holdings in shares of Mohawk Industries by 1.3% in the third quarter. State Street Corp now owns 1,846,446 shares of the company's stock worth $296,687,000 after purchasing an additional 23,016 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Mohawk Industries by 16.3% in the fourth quarter. Invesco Ltd. now owns 1,725,383 shares of the company's stock worth $205,545,000 after purchasing an additional 241,448 shares during the period. 78.98% of the stock is currently owned by institutional investors.

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.