Patrick Industries (PATK) Set to Announce Earnings on Thursday

Patrick Industries (NASDAQ:PATK) is scheduled to release its earnings data before the market opens on Thursday, May 2nd. Analysts expect Patrick Industries to post earnings of $1.32 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Patrick Industries (NASDAQ:PATK) last announced its quarterly earnings data 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. Patrick Industries had a net margin of 4.12% and a return on equity of 14.31%. The company had revenue of $781.20 million during the quarter, compared to analyst estimates of $780.97 million. During the same quarter last year, the business posted $1.82 EPS. The firm’s revenue for the quarter was down 17.9% on a year-over-year basis. 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 Trading Down 1.5 %

Shares of PATK opened at $106.81 on Thursday. Patrick Industries has a 1-year low of $63.57 and a 1-year high of $123.58. The company has a 50-day moving average of $112.98 and a 200 day moving average of $97.66. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 0.66 and a beta of 1.72. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.38 and a quick ratio of 0.73.

Patrick Industries Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 2.06%. Patrick Industries’s dividend payout ratio is currently 33.79%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PATK. Truist Financial restated a “buy” rating and issued a $130.00 price target on shares of Patrick Industries in a report on Friday, April 12th. 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 boosted their price target on shares of Patrick Industries from $101.00 to $120.00 and gave the company a “buy” rating in a report on Friday, February 9th. Finally, StockNews.com lowered shares of Patrick Industries from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. One research 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.00.

Insider Transactions at Patrick Industries

In other Patrick Industries news, CEO Andy L. Nemeth sold 10,000 shares of the business’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 transaction of $1,150,000.00. Following the sale, the chief executive officer now owns 289,619 shares of the company’s stock, valued at approximately $33,306,185. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Patrick Industries news, CEO Andy L. Nemeth sold 10,000 shares of the business’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 transaction of $1,150,000.00. Following the sale, the chief executive officer now owns 289,619 shares of the company’s stock, valued at approximately $33,306,185. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael A. Kitson sold 3,290 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was 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 in the company, valued at approximately $948,271.11. The disclosure for this sale can be found here. Insiders have sold a total of 48,873 shares of company stock valued at $5,681,957 in the last 90 days. Insiders own 4.70% of the company’s stock.

About Patrick Industries

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.