Patrick Industries (NASDAQ:PATK - Get Free Report) is anticipated to announce its earnings results before the market opens on Thursday, February 6th. Analysts expect the company to announce earnings of $0.79 per share and revenue of $815.59 million for the quarter. Investors that are interested in participating in the company's conference call can do so using this link.
Patrick Industries (NASDAQ:PATK - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.02). The company had revenue of $919.44 million during the quarter, compared to analysts' expectations of $935.75 million. Patrick Industries had a return on equity of 14.84% and a net margin of 4.24%. Patrick Industries's revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 EPS. On average, analysts expect Patrick Industries to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.
Patrick Industries Price Performance
NASDAQ PATK traded up $3.45 on Thursday, hitting $97.92. The company had a trading volume of 301,629 shares, compared to its average volume of 349,486. The company has a market capitalization of $3.29 billion, a PE ratio of 21.10, a PEG ratio of 1.41 and a beta of 2.26. The company's fifty day moving average price is $88.41 and its 200-day moving average price is $87.79. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.41 and a quick ratio of 0.97. Patrick Industries has a 12-month low of $66.29 and a 12-month high of $98.90.
Patrick Industries Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.60 annualized dividend and a yield of 1.63%. Patrick Industries's dividend payout ratio (DPR) is presently 34.48%.
Wall Street Analyst Weigh In
Several brokerages have issued reports on PATK. StockNews.com cut shares of Patrick Industries from a "hold" rating to a "sell" rating in a research note on Thursday, January 16th. Raymond James lowered their target price on shares of Patrick Industries from $106.67 to $90.67 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Benchmark reaffirmed a "buy" rating and set a $96.67 target price on shares of Patrick Industries in a research note on Monday, November 4th. BMO Capital Markets lifted their target price on shares of Patrick Industries from $100.00 to $103.33 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Finally, Truist Financial lowered their target price on shares of Patrick Industries from $110.00 to $105.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Patrick Industries has an average rating of "Moderate Buy" and an average target price of $92.63.
View Our Latest Stock Analysis on PATK
Insider Activity at Patrick Industries
In other Patrick Industries news, CEO Andy L. Nemeth sold 15,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $93.76, for a total transaction of $1,406,400.00. Following the completion of the transaction, the chief executive officer now owns 364,678 shares of the company's stock, valued at $34,192,209.28. This trade represents a 3.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.70% of the stock is currently owned by insiders.
About Patrick Industries
(
Get Free Report)
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.
Further Reading
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