Patrick Industries (PATK) Stock Forecast, Price & News

6 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Patrick Industries in the last year. There are currently 1 hold rating and 5 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" PATK shares.
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6 equities research analysts have issued twelve-month price objectives for Patrick Industries' shares. Their PATK share price forecasts range from $63.00 to $85.00. On average, they predict the company's stock price to reach $73.17 in the next twelve months. This suggests a possible upside of 3.4% from the stock's current price.
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Patrick Industries' stock was trading at $60.60 at the beginning of the year. Since then, PATK stock has increased by 16.7% and is now trading at $70.75.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, July 27th 2023.
View our PATK earnings forecast.

Patrick Industries, Inc. (NASDAQ:PATK) posted its earnings results on Thursday, April, 27th. The construction company reported $1.35 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.02. The construction company earned $900.10 million during the quarter, compared to the consensus estimate of $834.46 million. Patrick Industries had a trailing twelve-month return on equity of 27.78% and a net margin of 5.53%. Patrick Industries's revenue was down 32.9% compared to the same quarter last year. During the same quarter last year, the firm earned $4.54 earnings per share.

Patrick Industries announced a quarterly dividend on Friday, May 26th. Shareholders of record on Monday, June 12th will be given a dividend of $0.45 per share on Monday, June 26th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Friday, June 9th.
Read our dividend analysis for PATK.

ETFs with the largest weight of Patrick Industries (NASDAQ:PATK) stock in their portfolio include Cambria Value and Momentum ETF (VAMO), Pacer US Small Cap Cash Cows 100 ETF (CALF), Invesco S&P SmallCap Consumer Discretionary ETF (PSCD), Invesco S&P SmallCap 600 Pure Value ETF (RZV), ETC 6 Meridian Small Cap Equity ETF (SIXS), Roundhill Acquirers Deep Value ETF (DEEP), VictoryShares US Small Cap High Div Volatility Wtd ETF (CSB) and First Trust Small Cap Value AlphaDEX Fund (FYT).

Patrick Industries (NASDAQ:PATK) pays an annual dividend of $1.80 per share and currently has a dividend yield of 2.54%. The company has been increasing its dividend for 4 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 17.56%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PATK will have a dividend payout ratio of 20.76% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PATK.

Patrick Industries shares split before market open on Monday, December 11th 2017. The 3-2 split was announced on Thursday, November 9th 2017. The newly minted shares were payable to shareholders after the closing bell on Friday, December 8th 2017. An investor that had 100 shares of stock prior to the split would have 150 shares after the split.

2 employees have rated Patrick Industries Chief Executive Officer Andy Nemeth on Glassdoor.com. Andy Nemeth has an approval rating of 100% among the company's employees. This puts Andy Nemeth in the top 10% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Patrick Industries investors own include Advanced Micro Devices (AMD), Applied Materials (AMAT), Home Depot (HD), NVIDIA (NVDA), Intel (INTC), Lam Research (LRCX), AT&T (T), Micron Technology (MU), Block (SQ) and Verizon Communications (VZ).

Patrick Industries trades on the NASDAQ under the ticker symbol "PATK."

Patrick Industries' stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Dimensional Fund Advisors LP (5.81%), State Street Corp (3.64%), Geode Capital Management LLC (1.93%), Pacer Advisors Inc. (1.87%), Charles Schwab Investment Management Inc. (1.57%) and GW&K Investment Management LLC (1.40%). Insiders that own company stock include Andy L Nemeth, Courtney Blosser, Derrick B Mayes, Jeff Rodino, Joshua A Boone, Kip B Ellis, M Scott Welch, Michael A Kitson, Pamela R Klyn, Todd M Cleveland and Todd M Cleveland.
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Shares of PATK stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of PATK stock can currently be purchased for approximately $70.75.

Patrick Industries (NASDAQ:PATK) has a market capitalization of $1.58 billion and generates $4.88 billion in revenue each year. The construction company earns $328.20 million in net income (profit) each year or $10.25 on an earnings per share basis.

The company employs 11,000 workers across the globe.

Patrick Industries' mailing address is 107 WEST FRANKLIN STREET PO BOX 638, ELKHART IN, 46515. The official website for the company is www.patrickind.com. The construction company can be reached via phone at (574) 294-7511, via email at ir@patrickind.com, or via fax at 574-522-5213.