Patrick Industries, Inc. (NASDAQ:PATK) CEO Todd M. Cleveland purchased 10,000 shares of the firm’s stock in a transaction dated Monday, December 17th. The stock was acquired at an average cost of $29.59 per share, with a total value of $295,900.00. Following the completion of the acquisition, the chief executive officer now directly owns 601,219 shares in the company, valued at approximately $17,790,070.21. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of NASDAQ:PATK opened at $29.08 on Tuesday. The stock has a market capitalization of $726.93 million, a P/E ratio of 9.14, a PEG ratio of 0.44 and a beta of 1.19. Patrick Industries, Inc. has a fifty-two week low of $28.99 and a fifty-two week high of $72.35. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.85 and a current ratio of 2.24.
Patrick Industries (NASDAQ:PATK) last issued its quarterly earnings data on Thursday, October 25th. The construction company reported $1.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.09. The firm had revenue of $575.14 million for the quarter, compared to the consensus estimate of $565.23 million. Patrick Industries had a net margin of 5.52% and a return on equity of 28.73%. On average, research analysts expect that Patrick Industries, Inc. will post 4.62 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of the stock. Itau Unibanco Holding S.A. bought a new stake in shares of Patrick Industries during the 2nd quarter worth about $117,000. First Hawaiian Bank bought a new stake in shares of Patrick Industries during the 3rd quarter worth about $167,000. Wakefield Asset Management LLLP bought a new stake in shares of Patrick Industries during the 3rd quarter worth about $212,000. Verition Fund Management LLC bought a new stake in shares of Patrick Industries during the 3rd quarter worth about $226,000. Finally, Janus Henderson Group PLC bought a new stake in shares of Patrick Industries during the 3rd quarter worth about $238,000. Hedge funds and other institutional investors own 91.61% of the company’s stock.
Several research analysts have recently commented on PATK shares. ValuEngine lowered shares of Patrick Industries from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Sidoti cut their price objective on shares of Patrick Industries from $90.00 to $81.00 and set a “buy” rating on the stock in a research report on Tuesday, October 23rd. Zacks Investment Research downgraded shares of Patrick Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 17th. BidaskClub downgraded shares of Patrick Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Finally, TheStreet downgraded shares of Patrick Industries from a “b-” rating to a “c+” rating in a research report on Wednesday, December 12th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Patrick Industries presently has an average rating of “Hold” and an average price target of $73.40.
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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