Patrick Industries (PATK) Set to Announce Earnings on Thursday

Patrick Industries (NASDAQ:PATK - Get Free Report) will 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 that wish to listen to the company's earnings conference call can do so using this link.

Patrick Industries (NASDAQ:PATK - Get Free Report) last released its earnings results on Thursday, August 1st. The construction company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.11. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $972.06 million. Patrick Industries had a return on equity of 15.06% and a net margin of 4.26%. The firm's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.94 earnings per share. 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 Trading Up 0.8 %

PATK traded up $1.08 during midday trading on Thursday, hitting $135.22. The company's stock had a trading volume of 191,749 shares, compared to its average volume of 177,460. Patrick Industries has a 52-week low of $70.15 and a 52-week high of $148.35. The firm has a 50-day moving average price of $136.15 and a two-hundred day moving average price of $120.77. The company has a current ratio of 2.29, a quick ratio of 0.94 and a debt-to-equity ratio of 1.19. The firm has a market cap of $3.03 billion, a P/E ratio of 19.87, a PEG ratio of 1.25 and a beta of 1.61.

Patrick Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were issued a $0.55 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.20 dividend on an annualized basis and a yield of 1.63%. Patrick Industries's payout ratio is 32.59%.

Insiders Place Their Bets

In other news, insider Jeff Rodino sold 20,000 shares of the business'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 transaction, the insider now directly owns 139,109 shares of the company's stock, valued at approximately $18,274,749.33. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Jeff Rodino sold 20,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $131.37, for a total value of $2,627,400.00. Following the completion of the transaction, the insider now owns 139,109 shares of the company's stock, 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 document filed with the SEC, which is accessible through this link. Also, Director Todd M. Cleveland sold 7,500 shares of Patrick Industries stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $131.05, for a total value of $982,875.00. Following the sale, the director now owns 82,374 shares in the company, valued at $10,795,112.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,411 shares of company stock worth $3,858,915 in the last 90 days. 4.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

PATK has been the topic of a number of recent analyst reports. KeyCorp increased their price target on shares of Patrick Industries from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Wednesday. DA Davidson lifted their target price on Patrick Industries from $108.00 to $114.00 and gave the company a "neutral" rating in a report on Monday, August 5th. Raymond James assumed coverage on Patrick Industries in a research note on Tuesday, October 1st. They set an "outperform" rating and a $160.00 price target for the company. BMO Capital Markets lifted their price objective on Patrick Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. Finally, Truist Financial increased their target price on shares of Patrick Industries from $150.00 to $165.00 and gave the stock a "buy" rating in a research report on Friday, September 20th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $140.38.

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.