Mohawk Industries Price Target Increased to $138.00 by Analysts at JPMorgan Chase & Co. (MHK)
Investment analysts at JPMorgan Chase & Co. hoisted their price objective on shares of Mohawk Industries (NYSE:MHK) from $133.00 to $138.00 in a note issued to investors on Wednesday, Analyst Ratings News reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price objective points to a potential upside of 10.00% from the stock’s previous close.
Mohawk Industries (NYSE:MHK) traded up 0.37% during mid-day trading on Wednesday, hitting $125.46. 783,970 shares of the company’s stock traded hands. Mohawk Industries has a 52 week low of $77.67 and a 52 week high of $134.75. The stock’s 50-day moving average is $126.0 and its 200-day moving average is $117.6. The company has a market cap of $9.098 billion and a price-to-earnings ratio of 32.39.
Mohawk Industries (NYSE:MHK) last released its earnings data on Thursday, August 1st. The company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.18. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was up 34.5% on a year-over-year basis. On average, analysts predict that Mohawk Industries will post $6.22 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Barclays Capital cut their price target on shares of Mohawk Industries from $155.00 to $151.00 in a research note to investors on Tuesday, September 10th. They now have an “overweight” rating on the stock. Separately, analysts at Raymond James upgraded shares of Mohawk Industries from an “outperform” rating to a “strong-buy” rating in a research note to investors on Thursday, August 29th. They now have a $150.00 price target on the stock, up previously from $145.00. Finally, analysts at Zacks upgraded shares of Mohawk Industries from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, August 6th. They now have a $133.00 price target on the stock. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Mohawk Industries presently has an average rating of “Buy” and an average price target of $140.56.
Mohawk Industries, Inc (NYSE:MHK) is a producer of floor covering products for residential and commercial applications in the United States and residential applications in Europe.
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