Mohawk Industries (NYSE:MHK) PT Lowered to $118.00 at JPMorgan Chase & Co.

Mohawk Industries (NYSE:MHK) had its price objective reduced by JPMorgan Chase & Co. from $130.00 to $118.00 in a research report sent to investors on Monday morning, The Fly reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

Several other equities analysts also recently weighed in on the stock. ValuEngine raised shares of Mohawk Industries from a strong sell rating to a sell rating in a research note on Wednesday, May 15th. Jefferies Financial Group raised shares of Mohawk Industries from a hold rating to a buy rating and raised their price target for the stock from $145.00 to $167.00 in a research note on Tuesday, April 30th. Loop Capital raised their price target on shares of Mohawk Industries to $145.00 and gave the stock a hold rating in a research note on Friday, June 14th. Wells Fargo & Co downgraded shares of Mohawk Industries from a market perform rating to an underperform rating and decreased their price target for the stock from $135.00 to $115.00 in a research note on Monday. Finally, Zacks Investment Research raised shares of Mohawk Industries from a sell rating to a hold rating in a research note on Thursday, May 2nd. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. Mohawk Industries has an average rating of Hold and a consensus target price of $143.31.

Shares of NYSE MHK opened at $124.69 on Monday. The firm has a 50-day moving average of $147.23. Mohawk Industries has a 52-week low of $109.35 and a 52-week high of $196.30. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 2.31 and a beta of 1.42. The company has a current ratio of 1.30, a quick ratio of 0.66 and a debt-to-equity ratio of 0.18.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, July 25th. The company reported $2.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.87 by $0.02. The firm had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.65 billion. Mohawk Industries had a net margin of 7.79% and a return on equity of 10.50%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the firm posted $3.51 earnings per share. Equities analysts expect that Mohawk Industries will post 10.18 EPS for the current fiscal year.

In other Mohawk Industries news, Chairman Jeffrey S. Lorberbaum sold 18,000 shares of Mohawk Industries stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $142.76, for a total transaction of $2,569,680.00. Following the transaction, the chairman now directly owns 47,603 shares of the company’s stock, valued at $6,795,804.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bernard Thiers sold 2,800 shares of Mohawk Industries stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $149.85, for a total transaction of $419,580.00. Following the transaction, the insider now directly owns 43,559 shares in the company, valued at $6,527,316.15. The disclosure for this sale can be found here. Insiders have sold 31,000 shares of company stock worth $4,481,028 over the last ninety days. 18.00% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Lavaca Capital LLC purchased a new position in Mohawk Industries during the first quarter worth about $25,000. Penserra Capital Management LLC purchased a new position in Mohawk Industries during the first quarter worth about $25,000. Massey Quick Simon & CO. LLC purchased a new position in Mohawk Industries during the first quarter worth about $38,000. North Star Investment Management Corp. purchased a new position in Mohawk Industries during the first quarter worth about $50,000. Finally, Parallel Advisors LLC raised its stake in Mohawk Industries by 28.0% during the first quarter. Parallel Advisors LLC now owns 452 shares of the company’s stock worth $57,000 after purchasing an additional 99 shares during the period. 80.65% of the stock is currently owned by institutional investors.

About Mohawk Industries

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

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