Patrick Industries (PATK) Projected to Post Earnings on Thursday

Patrick Industries (NASDAQ:PATK) is expected to be announcing its earnings results before the market opens on Thursday, February 6th. Analysts expect the company to announce earnings of $0.79 per share and revenue of $815.59 million for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Patrick Industries Stock Down 1.5 %

PATK opened at $95.73 on Tuesday. Patrick Industries has a fifty-two week low of $66.49 and a fifty-two week high of $98.90. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 2.41. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 1.46 and a beta of 2.26. The firm’s fifty day moving average is $88.77 and its 200 day moving average is $88.18.

Patrick Industries Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend was Monday, November 25th. Patrick Industries’s dividend payout ratio (DPR) is 34.48%.

Insider Activity at Patrick Industries

In other Patrick Industries news, CEO Andy L. Nemeth sold 15,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $93.76, for a total value of $1,406,400.00. Following the transaction, the chief executive officer now directly owns 364,678 shares in the company, valued at approximately $34,192,209.28. This represents a 3.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PATK shares. StockNews.com lowered shares of Patrick Industries from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. Benchmark restated a “buy” rating and set a $96.67 price target on shares of Patrick Industries in a research note on Monday, November 4th. Truist Financial dropped their price objective on shares of Patrick Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Raymond James dropped their price target on shares of Patrick Industries from $106.67 to $90.67 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, KeyCorp upped their price objective on shares of Patrick Industries from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Patrick Industries presently has an average rating of “Moderate Buy” and a consensus price target of $92.63.

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.