Patrick Industries (NASDAQ:PATK – Get Free Report) released its quarterly earnings data on Thursday. The construction company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.32 by $0.47, Briefing.com reports. Patrick Industries had a return on equity of 14.31% and a net margin of 4.12%. The business had revenue of $933.50 million for the quarter, compared to analyst estimates of $829.22 million. During the same quarter in the prior year, the firm posted $1.35 EPS. The business’s quarterly revenue was up 3.7% compared to the same quarter last year.
Patrick Industries Price Performance
Shares of Patrick Industries stock traded up $0.79 during trading hours on Friday, reaching $111.13. 230,452 shares of the company’s stock were exchanged, compared to its average volume of 170,227. The business has a fifty day moving average of $112.23 and a two-hundred day moving average of $98.94. The company has a market capitalization of $2.49 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 0.64 and a beta of 1.73. The company has a quick ratio of 0.73, a current ratio of 2.38 and a debt-to-equity ratio of 0.97. Patrick Industries has a 1 year low of $63.57 and a 1 year high of $123.58.
Patrick Industries Announces Dividend
The firm also recently announced 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 of this dividend was Friday, February 16th. This represents a $2.20 annualized dividend and a yield of 1.98%. Patrick Industries’s dividend payout ratio (DPR) is presently 33.79%.
Insider Transactions at Patrick Industries
Analysts Set New Price Targets
Several research firms recently commented on PATK. Roth Mkm raised their price target on shares of Patrick Industries from $101.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, February 9th. KeyCorp lifted their price target on Patrick Industries from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. BMO Capital Markets increased their price target on Patrick Industries from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday. StockNews.com cut Patrick Industries from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. Finally, Truist Financial reiterated a “buy” rating and set a $130.00 target price on shares of Patrick Industries in a research report on Friday, April 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Patrick Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.86.
Read Our Latest Analysis on PATK
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.
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