Patrick Industries (PATK) Receives Coverage Optimism Score of 0.21

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News articles about Patrick Industries (NASDAQ:PATK) have trended somewhat positive on Wednesday, Accern Sentiment Analysis reports. The research group ranks the sentiment of news coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Patrick Industries earned a media sentiment score of 0.21 on Accern’s scale. Accern also assigned news articles about the construction company an impact score of 46.6477891596778 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.

A number of equities analysts have recently weighed in on the stock. BidaskClub raised shares of Patrick Industries from a “sell” rating to a “hold” rating in a research report on Saturday, May 19th. Zacks Investment Research raised shares of Patrick Industries from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Friday, July 27th. Finally, ValuEngine raised shares of Patrick Industries from a “hold” rating to a “buy” rating in a research report 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 company currently has a consensus rating of “Buy” and a consensus price target of $73.20.

PATK traded down $0.50 during trading on Wednesday, hitting $62.95. The company had a trading volume of 7,983 shares, compared to its average volume of 218,376. The stock has a market capitalization of $1.51 billion, a P/E ratio of 19.80, a P/E/G ratio of 0.96 and a beta of 0.76. Patrick Industries has a one year low of $45.90 and a one year high of $72.35. The company has a current ratio of 2.23, a quick ratio of 0.87 and a debt-to-equity ratio of 1.43.

Patrick Industries (NASDAQ:PATK) last posted its quarterly earnings data on Thursday, July 26th. The construction company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.21 by $0.21. The business had revenue of $604.88 million for the quarter, compared to analysts’ expectations of $553.60 million. Patrick Industries had a net margin of 5.49% and a return on equity of 27.49%. The firm’s revenue was up 48.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 EPS. equities research analysts predict that Patrick Industries will post 4.75 EPS for the current fiscal year.

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 sale, the director now directly owns 65,030 shares of the company’s stock, valued at approximately $3,925,861.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.60% of the company’s stock.

About Patrick Industries

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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