Wall Street analysts expect that Patrick Industries, Inc. (NASDAQ:PATK) will post earnings of $0.88 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Patrick Industries’ earnings, with the highest EPS estimate coming in at $0.91 and the lowest estimate coming in at $0.84. Patrick Industries posted earnings per share of $1.20 in the same quarter last year, which would indicate a negative year-over-year growth rate of 26.7%. The business is scheduled to issue its next quarterly earnings report before the market opens on Thursday, April 25th.
According to Zacks, analysts expect that Patrick Industries will report full-year earnings of $4.77 per share for the current financial year, with EPS estimates ranging from $4.60 to $4.85. For the next financial year, analysts forecast that the company will post earnings of $5.32 per share, with EPS estimates ranging from $5.10 to $5.50. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Patrick Industries.
Patrick Industries (NASDAQ:PATK) last issued its quarterly earnings results on Thursday, February 14th. The construction company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.21. The firm had revenue of $531.00 million during the quarter, compared to analyst estimates of $519.00 million. Patrick Industries had a return on equity of 28.26% and a net margin of 5.30%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company posted $0.87 EPS.
A number of equities analysts have issued reports on PATK shares. BidaskClub raised Patrick Industries from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 9th. KeyCorp increased their price target on Patrick Industries from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, February 19th. Wells Fargo & Co increased their price target on Patrick Industries from $30.00 to $49.00 and gave the company a “market perform” rating in a research note on Wednesday, February 27th. ValuEngine raised Patrick Industries from a “strong sell” rating to a “sell” rating in a research note on Friday, March 1st. Finally, Zacks Investment Research raised Patrick Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, March 13th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $58.60.
Shares of NASDAQ PATK opened at $55.13 on Friday. The company has a debt-to-equity ratio of 1.52, a current ratio of 2.44 and a quick ratio of 0.71. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 1.03 and a beta of 1.91. Patrick Industries has a 1 year low of $27.32 and a 1 year high of $67.50.
In other news, Director Walter E. Wells sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $45.34, for a total transaction of $45,340.00. Following the completion of the sale, the director now directly owns 60,030 shares of the company’s stock, valued at approximately $2,721,760.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.60% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PATK. PRW Wealth Management LLC bought a new stake in shares of Patrick Industries during the 4th quarter worth $25,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Patrick Industries during the 4th quarter worth $30,000. Quantamental Technologies LLC bought a new stake in shares of Patrick Industries during the 4th quarter worth $100,000. Meeder Asset Management Inc. boosted its stake in shares of Patrick Industries by 980.4% during the 4th quarter. Meeder Asset Management Inc. now owns 4,408 shares of the construction company’s stock worth $131,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Patrick Industries by 11.7% during the 4th quarter. Bank of Montreal Can now owns 4,534 shares of the construction company’s stock worth $135,000 after acquiring an additional 474 shares in the last quarter. 89.51% of the stock is owned by institutional investors and hedge funds.
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; decorative vinyl and paper laminated panels; 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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