Patrick Industries (PATK) Scheduled to Post Quarterly Earnings on Thursday

Patrick Industries (NASDAQ:PATK) will 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 wish to register for the company’s earnings conference call can do so using this link.

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

PATK stock opened at $107.17 on Tuesday. 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 company’s 50-day moving average price is $112.68 and its 200 day moving average price is $98.34. Patrick Industries has a 52 week low of $63.57 and a 52 week 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.

Patrick Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.55 per share. 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 payout ratio is 33.79%.

Wall Street Analyst Weigh In

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

Insider Activity at Patrick Industries

In other Patrick Industries news, Director Michael A. Kitson sold 3,290 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $110.87, for a total transaction of $364,762.30. Following the sale, the director now directly owns 8,553 shares of the company’s stock, valued at approximately $948,271.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Andy L. Nemeth sold 5,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $116.50, for a total transaction of $582,500.00. Following the sale, the chief executive officer now owns 284,619 shares in the company, valued at $33,158,113.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael A. Kitson sold 3,290 shares of the company’s 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 transaction, the director now owns 8,553 shares of the company’s stock, valued at $948,271.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,873 shares of company stock valued at $5,681,957. 4.70% of the stock is owned by insiders.

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.