Patrick Industries (PATK) Scheduled to Post Earnings on Thursday

Patrick Industries (NASDAQ:PATK) is scheduled to release its earnings data before the market opens on Thursday, October 31st. Analysts expect Patrick Industries to post 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) last announced its earnings results on Thursday, August 1st. The construction company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.11. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $972.06 million. Patrick Industries had a net margin of 4.26% and a return on equity of 15.06%. Patrick Industries’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business earned $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 Stock Performance

Shares of Patrick Industries stock opened at $136.45 on Wednesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.29 and a quick ratio of 0.94. The firm has a 50 day simple moving average of $136.92 and a 200 day simple moving average of $121.53. Patrick Industries has a fifty-two week low of $71.80 and a fifty-two week high of $148.35. The firm has a market cap of $3.06 billion, a P/E ratio of 19.58, a P/E/G ratio of 1.27 and a beta of 1.61.

Patrick Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were given 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 1.61%. Patrick Industries’s payout ratio is 31.56%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $145.00 price target on shares of Patrick Industries in a research note on Tuesday, September 17th. BMO Capital Markets upped their target price on shares of Patrick Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Robert W. Baird lifted their price target on shares of Patrick Industries from $120.00 to $128.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. KeyCorp increased their price objective on shares of Patrick Industries from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Raymond James initiated coverage on shares of Patrick Industries in a report on Tuesday, October 1st. They set an “outperform” rating and a $160.00 target price for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Patrick Industries presently has an average rating of “Moderate Buy” and a consensus target price of $140.38.

Insider Buying and Selling at Patrick Industries

In other news, insider Jeff Rodino sold 20,000 shares of Patrick Industries stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $131.37, for a total value of $2,627,400.00. Following the sale, the insider now directly owns 139,109 shares in the company, valued at $18,274,749.33. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Todd M. Cleveland sold 7,500 shares of Patrick Industries stock in a transaction dated 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 of the company’s stock, valued at approximately $10,795,112.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeff Rodino sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $131.37, for a total value of $2,627,400.00. Following the transaction, the insider now directly owns 139,109 shares of the company’s stock, valued at $18,274,749.33. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,411 shares of company stock valued at $3,858,915. Company insiders own 4.70% of the company’s stock.

About Patrick Industries

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.