Wall Street brokerages expect Patrick Industries, Inc. (NASDAQ:PATK) to announce $1.00 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for Patrick Industries’ earnings, with estimates ranging from $0.93 to $1.09. Patrick Industries posted earnings per share of $0.87 during the same quarter last year, which indicates a positive year-over-year growth rate of 14.9%. The company is expected to report its next quarterly earnings results on Thursday, February 21st.
According to Zacks, analysts expect that Patrick Industries will report full year earnings of $4.72 per share for the current financial year, with EPS estimates ranging from $4.60 to $4.83. For the next financial year, analysts expect that the business will report earnings of $5.29 per share, with EPS estimates ranging from $5.00 to $5.54. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Patrick Industries.
Patrick Industries (NASDAQ:PATK) last posted its earnings results on Thursday, October 25th. The construction company reported $1.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.09. The company had revenue of $575.14 million during the quarter, compared to analyst estimates of $565.23 million. Patrick Industries had a return on equity of 28.73% and a net margin of 5.52%.
Several research firms have recently issued reports on PATK. Zacks Investment Research upgraded Patrick Industries from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research report on Friday, July 27th. Sidoti decreased their target price on Patrick Industries from $90.00 to $81.00 and set a “buy” rating for the company in a research report on Tuesday, October 23rd. BidaskClub upgraded Patrick Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. Finally, ValuEngine lowered Patrick Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $74.50.
Patrick Industries stock opened at $43.39 on Friday. The stock has a market cap of $1.03 billion, a PE ratio of 9.25, a P/E/G ratio of 0.61 and a beta of 1.19. Patrick Industries has a 1 year low of $39.66 and a 1 year high of $72.35. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.24 and a quick ratio of 0.85.
In related news, Director Walter E. Wells sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $64.10, for a total value of $256,400.00. Following the completion of the transaction, the director now directly owns 61,030 shares in the company, valued at approximately $3,912,023. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director M Scott Welch acquired 3,080 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The stock was acquired at an average price of $43.68 per share, with a total value of $134,534.40. Following the completion of the transaction, the director now directly owns 73,032 shares in the company, valued at approximately $3,190,037.76. The disclosure for this purchase can be found here. 5.60% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Itau Unibanco Holding S.A. bought a new stake in Patrick Industries in the 2nd quarter valued at approximately $117,000. First Hawaiian Bank bought a new stake in Patrick Industries in the 3rd quarter valued at approximately $167,000. Edge Wealth Management LLC lifted its stake in Patrick Industries by 7,692.3% in the 2nd quarter. Edge Wealth Management LLC now owns 3,039 shares of the construction company’s stock valued at $173,000 after acquiring an additional 3,000 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Patrick Industries in the 3rd quarter valued at approximately $238,000. Finally, Xact Kapitalforvaltning AB lifted its stake in Patrick Industries by 29.0% in the 1st quarter. Xact Kapitalforvaltning AB now owns 4,008 shares of the construction company’s stock valued at $248,000 after acquiring an additional 900 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.
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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