Patrick Industries (PATK) Scheduled to Post Earnings on Thursday

Patrick Industries (NASDAQ:PATK) is scheduled to be announcing its earnings results before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $1.32 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Patrick Industries (NASDAQ:PATK) last issued its quarterly earnings results on Thursday, February 8th. The construction company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.10. The business had revenue of $781.20 million for the quarter, compared to the consensus estimate of $780.97 million. Patrick Industries had a return on equity of 14.31% and a net margin of 4.12%. Patrick Industries’s revenue for the quarter was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 earnings per share. On average, analysts expect Patrick Industries to post $8 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Patrick Industries Stock Up 1.6 %

Shares of Patrick Industries stock opened at $107.17 on Tuesday. Patrick Industries has a 1 year low of $63.57 and a 1 year high of $123.58. The company has a market cap of $2.40 billion, a P/E ratio of 16.46, a P/E/G ratio of 0.66 and a beta of 1.72. The company has a current ratio of 2.38, a quick ratio of 0.73 and a debt-to-equity ratio of 0.97. The stock has a 50-day moving average price of $112.68 and a 200 day moving average price of $98.34.

Patrick Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Tuesday, February 20th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.05%. Patrick Industries’s dividend payout ratio is 33.79%.

Insider Transactions at Patrick Industries

In related news, Director Michael A. Kitson sold 3,290 shares of Patrick Industries stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $110.87, for a total value of $364,762.30. Following the completion of the sale, the director now owns 8,553 shares of the company’s stock, valued at approximately $948,271.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Michael A. Kitson sold 3,290 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $110.87, for a total transaction of $364,762.30. Following the transaction, the director now owns 8,553 shares of the company’s stock, valued at approximately $948,271.11. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Andy L. Nemeth sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $115.00, for a total value of $1,150,000.00. Following the completion of the transaction, the chief executive officer now directly owns 289,619 shares in the company, valued at $33,306,185. The disclosure for this sale can be found here. Insiders have sold a total of 48,873 shares of company stock worth $5,681,957 in the last 90 days. 4.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. StockNews.com downgraded shares of Patrick Industries from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. KeyCorp boosted their price target on shares of Patrick Industries from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Roth Mkm increased their price objective on Patrick Industries from $101.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, Truist Financial restated a “buy” rating and issued a $130.00 target price on shares of Patrick Industries in a research note on Friday, April 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Patrick Industries has a consensus rating of “Moderate Buy” and a consensus target price of $103.00.

Patrick Industries Company Profile

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.