Analysts forecast that Patrick Industries, Inc. (NASDAQ:PATK) will post earnings of $1.87 per share for the current quarter, Zacks reports. Two analysts have made estimates for Patrick Industries’ earnings. The highest EPS estimate is $1.97 and the lowest is $1.77. Patrick Industries reported earnings per share of $1.62 during the same quarter last year, which suggests a positive year over year growth rate of 15.4%. The business is scheduled to report its next earnings report on Thursday, November 4th.
On average, analysts expect that Patrick Industries will report full year earnings of $7.50 per share for the current year, with EPS estimates ranging from $7.45 to $7.54. For the next fiscal year, analysts anticipate that the business will report earnings of $8.24 per share, with EPS estimates ranging from $8.13 to $8.35. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Patrick Industries.
Patrick Industries (NASDAQ:PATK) last posted its earnings results on Thursday, July 29th. The construction company reported $2.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.69. Patrick Industries had a return on equity of 30.29% and a net margin of 5.43%.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised Patrick Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, July 14th. Robert W. Baird reiterated a “buy” rating and set a $104.00 target price on shares of Patrick Industries in a report on Friday, July 2nd.
Shares of PATK opened at $82.63 on Wednesday. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 10.57, a P/E/G ratio of 1.20 and a beta of 2.44. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.09 and a current ratio of 2.32. Patrick Industries has a 1 year low of $47.74 and a 1 year high of $98.83. The stock has a 50 day moving average price of $77.74.
The business also recently announced a quarterly dividend, which was paid on Monday, June 14th. Shareholders of record on Tuesday, June 1st were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Friday, May 28th. Patrick Industries’s dividend payout ratio (DPR) is presently 26.67%.
In other news, Director Pamela R. Klyn acquired 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 26th. The shares were purchased at an average cost of $86.81 per share, for a total transaction of $86,810.00. Following the transaction, the director now directly owns 7,381 shares of the company’s stock, valued at $640,744.61. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Todd M. Cleveland sold 9,325 shares of the firm’s stock in a transaction dated Tuesday, June 1st. The shares were sold at an average price of $87.15, for a total value of $812,673.75. Following the sale, the chairman now directly owns 316,956 shares in the company, valued at $27,622,715.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,325 shares of company stock worth $1,966,874. Company insiders own 6.10% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new position in Patrick Industries during the fourth quarter valued at approximately $23,989,000. EVR Research LP bought a new stake in shares of Patrick Industries in the 1st quarter worth about $10,455,000. Scout Investments Inc. bought a new position in shares of Patrick Industries in the 1st quarter valued at about $10,397,000. Tributary Capital Management LLC bought a new stake in Patrick Industries during the first quarter worth approximately $9,830,000. Finally, BlackRock Inc. lifted its stake in shares of Patrick Industries by 3.4% in the 1st quarter. BlackRock Inc. now owns 3,382,128 shares of the construction company’s stock valued at $287,481,000 after purchasing an additional 111,466 shares during the last quarter. 89.21% of the stock is owned by institutional investors and hedge funds.
About Patrick Industries
Patrick Industries, Inc manufactures and distributes components, 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, wall, countertop, and cabinet product; cabinet door, fiberglass bath fixture, and tile system; hardwood furniture, vinyl printing, solid surface, granite, and quartz countertop fabrication aluminum product; RV painting; decorative vinyl and paper laminated panel; fiberglass and plastic component; softwoods lumber; custom cabinet; polymer-based flooring product; marine hardware; air handling; and electrical system and component, including instrument and dash panel, and other product.
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