News stories about Patrick Industries (NASDAQ:PATK) have trended somewhat negative recently, according to Alpha One. The research group, a unit of Accern, identifies positive and negative media coverage by monitoring more than twenty million blog and news sources. Alpha One ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Patrick Industries earned a news sentiment score of -0.05 on Alpha One’s scale. Alpha One also gave news articles about the construction company an impact score of 87 out of 100, meaning that recent media coverage is very likely to have an impact on the company’s share price in the next several days.
These are some of the news articles that may have effected Alpha One Sentiment Analysis’s rankings:
- Patrick Industries, Inc. (PATK) Coverage Initiated by Analysts at Robert W. Baird (americanbankingnews.com)
- Patrick Industries (PATK) Earning Somewhat Favorable News Coverage, Study Finds (americanbankingnews.com)
- Patrick Industries, Inc. (PATK) Coverage Initiated at Bank of America Corp (americanbankingnews.com)
- PATRICK INDUSTRIES, INC. (NASDAQ:PATK) Files An 8-K Regulation FD Disclosure (4-traders.com)
- Patrick Industries (PATK) Earning Somewhat Positive News Coverage, Study Shows (americanbankingnews.com)
A number of equities analysts have issued reports on the stock. Robert W. Baird started coverage on shares of Patrick Industries in a research report on Friday. They issued an “outperform” rating and a $74.00 price objective on the stock. Bank of America Corp started coverage on shares of Patrick Industries in a research report on Monday. They set a “buy” rating and a $80.00 price target on the stock. Finally, Wells Fargo & Co started coverage on shares of Patrick Industries in a research report on Monday, March 20th. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $77.00.
Shares of Patrick Industries (NASDAQ:PATK) traded up 0.47% during trading on Friday, hitting $64.65. 101,798 shares of the company traded hands. The company has a market capitalization of $994.25 million, a price-to-earnings ratio of 17.76 and a beta of 1.20. Patrick Industries has a 52 week low of $43.36 and a 52 week high of $86.10. The company has a 50 day moving average price of $68.75 and a 200 day moving average price of $71.21.
Patrick Industries (NASDAQ:PATK) last issued its quarterly earnings data on Thursday, February 16th. The construction company reported $0.89 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.89. Patrick Industries had a net margin of 4.60% and a return on equity of 35.44%. The firm had revenue of $323.90 million for the quarter, compared to the consensus estimate of $302.05 million. During the same quarter in the previous year, the firm earned $0.78 EPS. The company’s quarterly revenue was up 30.3% compared to the same quarter last year. On average, analysts expect that Patrick Industries will post $3.91 earnings per share for the current year.
In other news, CEO Todd M. Cleveland sold 10,000 shares of Patrick Industries stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $85.30, for a total value of $853,000.00. Following the transaction, the chief executive officer now owns 352,227 shares of the company’s stock, valued at approximately $30,044,963.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey L. Et Al Gendell sold 4,848 shares of Patrick Industries stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $83.37, for a total transaction of $404,177.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,465 shares of company stock worth $2,771,993. Insiders own 6.20% of the company’s stock.
About Patrick Industries
Patrick Industries, Inc is a manufacturer of component products and distributor of building products and materials for the recreational vehicle (RV) and manufactured housing (MH) industrial markets for customers throughout the United States and Canada. In addition, it is a supplier to certain other industrial markets, such as kitchen cabinet, office and household furniture, fixtures and commercial furnishings, marine, and other industrial markets.
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