Patrick Industries (NASDAQ:PATK) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, October 24th. Analysts expect Patrick Industries to post earnings of $0.94 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.
Patrick Industries (NASDAQ:PATK) last posted its quarterly earnings data on Thursday, July 25th. The construction company reported $1.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.04. Patrick Industries had a return on equity of 23.07% and a net margin of 4.43%. The firm had revenue of $613.20 million for the quarter, compared to analysts’ expectations of $621.33 million. During the same period in the previous year, the firm earned $1.42 EPS. The business’s quarterly revenue was up 1.4% on a year-over-year basis. On average, analysts expect Patrick Industries to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.
PATK stock opened at $44.25 on Wednesday. Patrick Industries has a twelve month low of $27.32 and a twelve month high of $55.87. The company has a quick ratio of 0.78, a current ratio of 2.01 and a debt-to-equity ratio of 1.37. The stock has a market cap of $1.07 billion, a P/E ratio of 9.52, a PEG ratio of 1.63 and a beta of 2.13. The business’s 50-day moving average price is $41.04 and its 200-day moving average price is $44.17.
In related news, President Andy L. Nemeth sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $45.00, for a total value of $675,000.00. Following the transaction, the president now directly owns 172,982 shares of the company’s stock, valued at approximately $7,784,190. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director M Scott Welch purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average cost of $39.00 per share, for a total transaction of $390,000.00. The disclosure for this purchase can be found here. 7.60% of the stock is currently owned by insiders.
A number of research analysts have recently weighed in on the company. BidaskClub raised Patrick Industries from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Bank of America lowered their price objective on Patrick Industries from $51.00 to $36.00 and set an “underperform” rating on the stock in a research report on Wednesday, September 4th. ValuEngine raised Patrick Industries from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 1st. Zacks Investment Research cut Patrick Industries from a “hold” rating to a “sell” rating in a report on Saturday, October 5th. Finally, TheStreet cut Patrick Industries from a “b-” rating to a “c+” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $55.20.
About Patrick Industries
Patrick Industries, Inc manufactures and distributes building products and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States and Canada. Its Manufacturing segment manufactures and sells furniture, shelving, walls, countertops, and cabinet products; cabinet doors, fiberglass bath fixtures, and tile systems; hardwood furniture, vinyl printing, solid surface, granite, and quartz countertop fabrication products; RV paintings; fabricated aluminum products; decorative vinyl and paper laminated panels; fiberglass and plastic components; softwoods lumber; custom cabinets; polymer-based flooring products; and electrical systems and components, including instrument and dash panels, and other products.
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