Patrick Industries (PATK) to Release Quarterly Earnings on Thursday

Patrick Industries (NASDAQ:PATK - Get Free Report) is scheduled to 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. Parties interested in listening to the company's conference call can do so using this link.

Patrick Industries (NASDAQ:PATK - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The construction company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $780.97 million. During the same quarter in the previous year, the firm posted $1.82 EPS. The business's revenue was down 17.9% compared to the same quarter last year. 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 Price Performance

Shares of PATK stock traded down $2.39 during mid-day trading on Thursday, reaching $104.42. The company's stock had a trading volume of 96,983 shares, compared to its average volume of 168,729. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.73 and a current ratio of 2.38. The firm's 50-day moving average is $112.93 and its two-hundred day moving average is $97.72. Patrick Industries has a 1-year low of $63.57 and a 1-year high of $123.58. The company has a market cap of $2.34 billion, a P/E ratio of 16.04, a PEG ratio of 0.68 and a beta of 1.72.

Patrick Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Tuesday, February 20th were paid a dividend of $0.55 per share. The ex-dividend date was Friday, February 16th. This represents a $2.20 annualized dividend and a yield of 2.11%. Patrick Industries's dividend payout ratio is currently 33.79%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PATK shares. KeyCorp upped their price target on shares of Patrick Industries from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Friday, February 9th. Roth Mkm boosted their price objective on shares of Patrick Industries from $101.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday, February 9th. Truist Financial reissued a "buy" rating and issued a $130.00 target price on shares of Patrick Industries in a research note on Friday, April 12th. Finally, StockNews.com lowered Patrick Industries from a "buy" rating to a "hold" rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $103.00.

Insider Transactions at Patrick Industries

In other Patrick Industries news, Director Michael A. Kitson sold 3,290 shares of Patrick Industries stock in a transaction dated 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 sale, the director now owns 8,553 shares in the company, valued at approximately $948,271.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Kip B. Ellis sold 18,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $115.00, for a total transaction of $2,070,000.00. Following the sale, the insider now directly owns 108,778 shares of the company's stock, valued at approximately $12,509,470. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael A. Kitson sold 3,290 shares of the firm's stock in a transaction on Thursday, February 15th. The stock was 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 in the company, valued at approximately $948,271.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,873 shares of company stock worth $5,681,957. Company 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.