Analysts forecast that Patrick Industries, Inc. (NASDAQ:PATK) will announce $1.25 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Patrick Industries’ earnings. The lowest EPS estimate is $1.17 and the highest is $1.31. Patrick Industries posted earnings of $0.85 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 47.1%. The company is expected to issue its next earnings report on Thursday, July 26th.
On average, analysts expect that Patrick Industries will report full-year earnings of $4.51 per share for the current fiscal year, with EPS estimates ranging from $4.40 to $4.65. For the next fiscal year, analysts expect that the company will post earnings of $5.08 per share, with EPS estimates ranging from $4.90 to $5.30. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Patrick Industries.
Patrick Industries (NASDAQ:PATK) last announced its quarterly earnings data on Thursday, April 26th. The construction company reported $1.20 EPS for the quarter, beating the consensus estimate of $0.95 by $0.25. Patrick Industries had a net margin of 5.34% and a return on equity of 25.30%. The business had revenue of $551.83 million during the quarter, compared to analysts’ expectations of $477.65 million. During the same period in the previous year, the business posted $0.92 EPS. The business’s quarterly revenue was up 59.8% compared to the same quarter last year.
Several equities analysts recently issued reports on PATK shares. BidaskClub upgraded shares of Patrick Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, March 14th. Bank of America boosted their target price on shares of Patrick Industries from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, March 15th. Wells Fargo & Co decreased their target price on shares of Patrick Industries from $75.00 to $66.00 and set a “market perform” rating for the company in a research note on Tuesday, April 10th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of Patrick Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, May 29th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $74.60.
In related news, Director Walter E. Wells sold 3,000 shares of the business’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $60.37, for a total value of $181,110.00. Following the completion of the sale, the director now owns 65,030 shares of the company’s stock, valued at approximately $3,925,861.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director M Scott Welch purchased 7,500 shares of the business’s stock in a transaction that occurred on Friday, May 11th. The stock was bought at an average cost of $58.65 per share, with a total value of $439,875.00. Following the acquisition, the director now owns 67,442 shares in the company, valued at approximately $3,955,473.30. The disclosure for this purchase can be found here. 5.60% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of PATK. Sei Investments Co. increased its holdings in Patrick Industries by 124.5% in the 1st quarter. Sei Investments Co. now owns 3,374 shares of the construction company’s stock worth $209,000 after acquiring an additional 1,871 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Patrick Industries in the 4th quarter worth $210,000. Xact Kapitalforvaltning AB purchased a new stake in Patrick Industries in the 4th quarter worth $216,000. M&T Bank Corp purchased a new stake in Patrick Industries in the 4th quarter worth $224,000. Finally, Amalgamated Bank purchased a new stake in shares of Patrick Industries during the fourth quarter worth $246,000. 93.04% of the stock is owned by institutional investors.
Shares of Patrick Industries traded down $2.15, hitting $59.75, during trading hours on Tuesday, according to Marketbeat.com. The stock had a trading volume of 173,345 shares, compared to its average volume of 224,924. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.01 and a quick ratio of 0.86. Patrick Industries has a fifty-two week low of $45.30 and a fifty-two week high of $72.35. The stock has a market cap of $1.53 billion, a P/E ratio of 16.99, a P/E/G ratio of 1.08 and a beta of 0.83.
Patrick Industries Company Profile
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; 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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