Patrick Industries, Inc. (NASDAQ:PATK) Chairman Todd M. Cleveland sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $60.67, for a total value of $606,700.00. Following the transaction, the chairman now directly owns 605,329 shares of the company’s stock, valued at $36,725,310.43. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
PATK stock opened at $61.41 on Friday. The stock has a 50-day moving average price of $53.87 and a 200-day moving average price of $47.11. Patrick Industries, Inc. has a 1-year low of $32.98 and a 1-year high of $64.38. The company has a current ratio of 2.61, a quick ratio of 1.31 and a debt-to-equity ratio of 1.51. The firm has a market cap of $1.46 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 2.11 and a beta of 2.16.
Patrick Industries (NASDAQ:PATK) last posted its quarterly earnings data on Thursday, February 13th. The construction company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.12. Patrick Industries had a return on equity of 20.73% and a net margin of 4.16%. The firm had revenue of $549.50 million during the quarter, compared to analyst estimates of $535.56 million. During the same period last year, the company posted $0.96 EPS. The business’s quarterly revenue was up 3.4% on a year-over-year basis. On average, analysts forecast that Patrick Industries, Inc. will post 3.74 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of PATK. Goldman Sachs Group Inc. raised its position in shares of Patrick Industries by 724.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 634,779 shares of the construction company’s stock worth $33,281,000 after acquiring an additional 557,806 shares in the last quarter. Millennium Management LLC raised its position in shares of Patrick Industries by 1,936.2% in the 3rd quarter. Millennium Management LLC now owns 139,582 shares of the construction company’s stock worth $5,985,000 after acquiring an additional 132,727 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of Patrick Industries in the 4th quarter worth about $6,460,000. Nuveen Asset Management LLC raised its position in shares of Patrick Industries by 746.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 101,814 shares of the construction company’s stock worth $5,008,000 after acquiring an additional 89,785 shares in the last quarter. Finally, Royce & Associates LP raised its position in shares of Patrick Industries by 32.1% in the 4th quarter. Royce & Associates LP now owns 354,744 shares of the construction company’s stock worth $18,599,000 after acquiring an additional 86,219 shares in the last quarter. 89.40% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on the company. TheStreet raised Patrick Industries from a “c+” rating to a “b-” rating in a research report on Monday, February 10th. Robert W. Baird raised their target price on Patrick Industries from $46.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. They noted that the move was a valuation call. Zacks Investment Research raised Patrick Industries from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Thursday, January 9th. KeyCorp raised their target price on Patrick Industries from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, ValuEngine raised Patrick Industries from a “strong sell” rating to a “sell” rating in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $54.20.
Patrick Industries Company Profile
Patrick Industries, Inc manufactures and distributes 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, walls, countertops, and cabinet products; cabinet doors, fiberglass bath fixtures, and tile systems; hardwood furniture, vinyl printing, solid surface, granite, and quartz countertop fabrication products; RV paintings; fabricated aluminum products; decorative vinyl and paper laminated panels; fiberglass and plastic components; softwoods lumber; custom cabinets; polymer-based flooring products; and electrical systems and components, including instrument and dash panels, and other products.
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