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 research report released on Friday morning, MarketBeat Ratings reports. They currently have $161.00 target price on the stock, up from their previous target price of $151.00.

MHK has been the topic of several other research reports. Barclays cut 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. Robert W. Baird raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $160.00 to $196.00 in a report on Monday, October 21st. Loop Capital lowered their price objective on shares of Mohawk Industries from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, December 4th. Truist Financial cut their target price on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Finally, Wolfe Research raised Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price target for the company in a research report on Wednesday. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.92.

Mohawk Industries Trading Down 0.2 %

Shares of MHK stock opened at $118.06 on Friday. The business has a 50-day moving average of $130.65 and a 200 day moving average of $139.26. 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 stock has a market capitalization of $7.45 billion, a PE ratio of 13.37, a P/E/G ratio of 1.41 and a beta of 1.41.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 9,078 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were 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 SEC, which is available through this link. Over the last 90 days, 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

Several hedge funds have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA bought a new position in Mohawk Industries during the 2nd quarter valued at approximately $85,997,000. FMR LLC grew its stake in shares of Mohawk Industries by 52.3% in the third quarter. FMR LLC now owns 2,179,510 shares of the company’s stock worth $350,204,000 after acquiring an additional 748,070 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Mohawk Industries by 42.9% during the second quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock valued at $136,349,000 after acquiring an additional 360,628 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Mohawk Industries by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock worth $344,903,000 after purchasing an additional 292,661 shares during the last quarter. Finally, Clearbridge Investments LLC bought a new position in Mohawk Industries in the 2nd quarter worth about $21,061,000. Institutional investors own 78.98% of the company’s stock.

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.