Shares of Patrick Industries, Inc. (NASDAQ:PATK - Get Free Report) saw an uptick in trading volume on Friday . 147,918 shares were traded during trading, a decline of 17% from the previous session's volume of 177,234 shares.The stock last traded at $126.48 and had previously closed at $125.98.
A number of brokerages have issued reports on PATK. Robert W. Baird raised their price target on shares of Patrick Industries from $120.00 to $128.00 and gave the stock an "outperform" rating in a report on Friday, August 2nd. BMO Capital Markets boosted their price target on Patrick Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. KeyCorp increased their price objective on Patrick Industries from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Truist Financial upped their target price on Patrick Industries from $150.00 to $165.00 and gave the company a "buy" rating in a report on Friday, September 20th. Finally, DA Davidson lifted their price target on shares of Patrick Industries from $108.00 to $114.00 and gave the company a "neutral" rating in a report on Monday, August 5th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $140.38.
Check Out Our Latest Report on PATK
The company has a debt-to-equity ratio of 1.19, a current ratio of 2.29 and a quick ratio of 0.94. The stock's 50 day simple moving average is $137.01 and its two-hundred day simple moving average is $121.62. The firm has a market cap of $2.71 billion, a P/E ratio of 17.34, a P/E/G ratio of 1.26 and a beta of 1.61.
Patrick Industries (NASDAQ:PATK - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $1.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.83 by ($0.03). Patrick Industries had a net margin of 4.26% and a return on equity of 15.06%. The company had revenue of $919.44 million for the quarter, compared to analysts' expectations of $935.75 million. During the same quarter in the previous year, the firm posted $1.81 EPS. The firm's quarterly revenue was up 6.2% compared to the same quarter last year. As a group, research analysts forecast that Patrick Industries, Inc. will post 7.21 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were paid a dividend of $0.55 per share. The ex-dividend date was Monday, August 26th. This represents a $2.20 dividend on an annualized basis and a yield of 1.82%. Patrick Industries's dividend payout ratio is currently 31.56%.
In other news, COO Hugo E. Gonzalez sold 1,911 shares of the company's stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $130.11, for a total transaction of $248,640.21. Following the transaction, the chief operating officer now directly owns 23,759 shares of the company's stock, valued at $3,091,283.49. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Patrick Industries news, COO Hugo E. Gonzalez sold 1,911 shares of the business's stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $130.11, for a total transaction of $248,640.21. Following the completion of the sale, the chief operating officer now directly owns 23,759 shares in the company, valued at approximately $3,091,283.49. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeff Rodino sold 20,000 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $131.37, for a total value of $2,627,400.00. Following the completion of the transaction, the insider now owns 139,109 shares in the company, valued at approximately $18,274,749.33. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,411 shares of company stock worth $3,858,915. Corporate insiders own 4.70% of the company's stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sound Income Strategies LLC bought a new position in Patrick Industries in the 3rd quarter worth $46,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Patrick Industries in the second quarter worth about $41,000. GAMMA Investing LLC lifted its position in shares of Patrick Industries by 76.2% during the 3rd quarter. GAMMA Investing LLC now owns 474 shares of the construction company's stock valued at $67,000 after buying an additional 205 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Patrick Industries by 176.6% during the 3rd quarter. UMB Bank n.a. now owns 567 shares of the construction company's stock valued at $81,000 after acquiring an additional 362 shares during the period. Finally, nVerses Capital LLC purchased a new stake in Patrick Industries in the 3rd quarter worth approximately $157,000. Hedge funds and other institutional investors own 93.29% of the company's stock.
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.
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