Shares of Patrick Industries, Inc. (NASDAQ:PATK – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the ten analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $114.00.
A number of brokerages have weighed in on PATK. Northcoast Research set a $121.00 price objective on shares of Patrick Industries and gave the stock a “buy” rating in a report on Tuesday, September 1st. KeyCorp lowered their target price on shares of Patrick Industries from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Raymond James Financial reissued an “outperform” rating and issued a $94.00 price target on shares of Patrick Industries in a research report on Friday, July 31st. Roth Capital set a $114.00 price target on Patrick Industries in a research note on Friday, July 31st. Finally, Truist Financial set a $108.00 price objective on Patrick Industries and gave the company a “buy” rating in a research report on Monday, August 10th.
Get Our Latest Analysis on Patrick Industries
Hedge Funds Weigh In On Patrick Industries
Patrick Industries Stock Up 0.2%
PATK stock opened at $69.12 on Friday. Patrick Industries has a fifty-two week low of $67.00 and a fifty-two week high of $148.50. The business’s 50 day moving average price is $80.57 and its two-hundred day moving average price is $90.87. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.96 and a current ratio of 2.67. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 16.38 and a beta of 1.11.
Patrick Industries (NASDAQ:PATK – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The construction company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.05. Patrick Industries had a net margin of 3.74% and a return on equity of 12.69%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $994.95 million. During the same period last year, the business earned $1.50 EPS. Patrick Industries’s quarterly revenue was down .6% compared to the same quarter last year. As a group, analysts forecast that Patrick Industries will post 4.24 earnings per share for the current fiscal year.
Patrick Industries Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, August 24th. Patrick Industries’s payout ratio is 44.55%.
About Patrick Industries
Patrick Industries, Inc is a manufacturer and supplier of component products and building materials for the recreational vehicle, marine, manufactured housing, powersports, and industrial markets. The company serves original equipment manufacturers and other customers primarily through a broad network of manufacturing and distribution operations.
Its products include cabinetry, furniture, countertops, flooring, hardware, electronics, electrical and wiring components, plumbing products, decorative panels, laminates, fabricated metals, plastics, and other interior and exterior components.
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