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

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

Other analysts also recently issued research reports about the stock. 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. StockNews.com upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a report on Thursday. Truist Financial cut their target price on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Wells Fargo & Company lowered their price target on Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Finally, Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $160.00 to $196.00 in a report on Monday, October 21st. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Mohawk Industries presently has an average rating of “Moderate Buy” and an average target price of $158.92.

Mohawk Industries Trading Down 0.2 %

Shares of NYSE:MHK opened at $118.06 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09. Mohawk Industries has a 1 year low of $96.28 and a 1 year high of $164.29. The company has a market cap of $7.45 billion, a P/E ratio of 13.37, a PEG ratio of 1.41 and a beta of 1.41. The stock’s fifty day moving average price is $130.65 and its 200-day moving average price is $139.26.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 9,078 shares of Mohawk Industries stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total transaction of $1,187,947.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 19,078 shares of company stock worth $2,474,347. 17.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mohawk Industries

Institutional investors and hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. grew its position in shares of Mohawk Industries by 1.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 66,402 shares of the company’s stock worth $7,910,000 after purchasing an additional 1,221 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Mohawk Industries by 1.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the company’s stock valued at $819,000 after buying an additional 130 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Mohawk Industries by 71.0% during the fourth quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock valued at $64,000 after buying an additional 223 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings 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 worth $485,983,000 after buying an additional 74,123 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Mohawk Industries by 4.4% during the third quarter. Principal Financial Group Inc. now owns 61,724 shares of the company’s stock worth $9,918,000 after acquiring an additional 2,601 shares during the last quarter. 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.