Patrick Industries, Inc. (NASDAQ:PATK) Director Jeffrey L. Et Al Gendell sold 22,769 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $52.29, for a total transaction of $1,190,591.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
PATK opened at $51.16 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.61 and a quick ratio of 1.31. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 2.03 and a beta of 2.16. The business has a 50-day moving average of $44.71 and a two-hundred day moving average of $44.08. Patrick Industries, Inc. has a 12 month low of $27.32 and a 12 month high of $55.87.
Patrick Industries (NASDAQ:PATK) last posted its quarterly earnings results on Thursday, October 24th. The construction company reported $0.92 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.04). The business had revenue of $566.19 million during the quarter, compared to analysts’ expectations of $576.97 million. Patrick Industries had a net margin of 4.16% and a return on equity of 20.73%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.15 EPS. Equities research analysts anticipate that Patrick Industries, Inc. will post 3.75 earnings per share for the current year.
PATK has been the subject of several analyst reports. ValuEngine raised shares of Patrick Industries from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 31st. BidaskClub raised shares of Patrick Industries from a “hold” rating to a “buy” rating in a research note on Thursday. Robert W. Baird boosted their target price on shares of Patrick Industries from $46.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. They noted that the move was a valuation call. Bank of America cut their target price on shares of Patrick Industries from $51.00 to $36.00 and set an “underperform” rating for the company in a research note on Wednesday, September 4th. Finally, TheStreet downgraded shares of Patrick Industries from a “b-” rating to a “c+” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $49.80.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Systematic Financial Management LP purchased a new stake in Patrick Industries in the 3rd quarter valued at about $621,000. TimesSquare Capital Management LLC grew its holdings in Patrick Industries by 5.4% in the 3rd quarter. TimesSquare Capital Management LLC now owns 437,700 shares of the construction company’s stock valued at $18,769,000 after buying an additional 22,400 shares during the period. Tower Research Capital LLC TRC grew its holdings in Patrick Industries by 554.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 916 shares of the construction company’s stock valued at $39,000 after buying an additional 776 shares during the period. GW&K Investment Management LLC grew its holdings in Patrick Industries by 8.3% in the 3rd quarter. GW&K Investment Management LLC now owns 519,153 shares of the construction company’s stock valued at $22,262,000 after buying an additional 39,888 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in Patrick Industries in the 3rd quarter valued at about $110,000. Institutional investors own 88.48% 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; 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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