Patrick Industries (PATK) Projected to Post Earnings on Thursday

Patrick Industries (NASDAQ:PATK) is anticipated to release its earnings data before the market opens on Thursday, February 6th. Analysts expect Patrick Industries to post earnings of $0.79 per share and revenue of $815.59 million for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Patrick Industries (NASDAQ:PATK) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.02). The firm had revenue of $919.44 million for the quarter, compared to analysts’ expectations of $935.75 million. Patrick Industries had a net margin of 4.24% and a return on equity of 14.84%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 EPS. On average, analysts expect Patrick Industries to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Patrick Industries Stock Down 1.6 %

PATK stock opened at $94.47 on Thursday. The firm has a market cap of $3.17 billion, a PE ratio of 20.36, a PEG ratio of 1.41 and a beta of 2.26. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 2.41. The firm’s 50 day moving average price is $88.41 and its 200-day moving average price is $87.79. Patrick Industries has a one year low of $66.29 and a one year high of $98.90.

Patrick Industries Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, November 25th were issued a $0.40 dividend. The ex-dividend date was Monday, November 25th. This represents a $1.60 annualized dividend and a yield of 1.69%. Patrick Industries’s dividend payout ratio (DPR) is presently 34.48%.

Analysts Set New Price Targets

PATK has been the subject of several research reports. StockNews.com downgraded shares of Patrick Industries from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. Raymond James dropped their target price on shares of Patrick Industries from $106.67 to $90.67 and set an “outperform” rating for the company in a report on Friday, November 1st. Benchmark reiterated a “buy” rating and issued a $96.67 target price on shares of Patrick Industries in a report on Monday, November 4th. BMO Capital Markets lifted their target price on shares of Patrick Industries from $100.00 to $103.33 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Truist Financial dropped their target price on shares of Patrick Industries from $110.00 to $105.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $92.63.

Insiders Place Their Bets

In related news, CEO Andy L. Nemeth sold 15,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $93.76, for a total transaction of $1,406,400.00. Following the completion of the transaction, the chief executive officer now owns 364,678 shares in the company, valued at approximately $34,192,209.28. The trade was a 3.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.70% of the company’s stock.

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.