Patrick Industries (NASDAQ:PATK – Get Free Report) is scheduled to issue its quarterly earnings data before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $1.87 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.
Patrick Industries (NASDAQ:PATK – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.11. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $972.06 million. Patrick Industries had a return on equity of 15.06% and a net margin of 4.26%. Patrick Industries’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.94 EPS. On average, analysts expect Patrick Industries to post $7 EPS for the current fiscal year and $9 EPS for the next fiscal year.
Patrick Industries Stock Down 1.9 %
Patrick Industries stock opened at $134.14 on Thursday. Patrick Industries has a twelve month low of $70.15 and a twelve month high of $148.35. The company has a quick ratio of 0.94, a current ratio of 2.29 and a debt-to-equity ratio of 1.19. The company has a 50 day moving average of $136.15 and a 200-day moving average of $120.77. The stock has a market capitalization of $3.00 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61.
Patrick Industries Dividend Announcement
Analyst Ratings Changes
PATK has been the topic of several research reports. DA Davidson boosted their target price on Patrick Industries from $108.00 to $114.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. BMO Capital Markets increased their price objective on shares of Patrick Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Robert W. Baird boosted their price target on Patrick Industries from $120.00 to $128.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Truist Financial increased their price objective on Patrick Industries from $150.00 to $165.00 and gave the company a “buy” rating in a report on Friday, September 20th. Finally, Raymond James assumed coverage on shares of Patrick Industries in a report on Tuesday, October 1st. They set an “outperform” rating and a $160.00 target price on the stock. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Patrick Industries currently has an average rating of “Moderate Buy” and a consensus price target of $140.38.
Read Our Latest Report on PATK
Insider Transactions at Patrick Industries
In other Patrick Industries news, COO Hugo E. Gonzalez sold 1,911 shares of Patrick Industries stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $130.11, for a total value of $248,640.21. Following the transaction, the chief operating officer now owns 23,759 shares in the company, valued at $3,091,283.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Jeff Rodino sold 20,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $131.37, for a total transaction of $2,627,400.00. Following the completion of the transaction, the insider now directly owns 139,109 shares in the company, valued at approximately $18,274,749.33. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Hugo E. Gonzalez sold 1,911 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $130.11, for a total value of $248,640.21. Following the sale, the chief operating officer now directly owns 23,759 shares in the company, valued at approximately $3,091,283.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,411 shares of company stock valued at $3,858,915. Company insiders own 4.70% of the company’s stock.
Patrick Industries Company Profile
Patrick Industries, Inc manufactures and distributes component products and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States, Mexico, China, and Canada. Its Manufacturing segment manufactures and sells laminated products for furniture, shelving, wall, countertop, and cabinet products; cabinet doors, fiberglass bath fixtures, and tile systems; hardwood furniture, vinyl printing, amplifiers, tower speakers, soundbars, and subwoofers; solid surface, granite, and quartz countertop fabrication; aluminum products; fiberglass and plastic components; RV paintings; decorative vinyl and paper laminated panels; softwoods lumber; custom cabinets; polymer-based flooring products; dash panels; and other products.
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