Media stories about Patrick Industries (NASDAQ:PATK) have been trending somewhat positive on Tuesday, Accern reports. The research group identifies negative and positive press coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Patrick Industries earned a daily sentiment score of 0.14 on Accern’s scale. Accern also assigned media stories about the construction company an impact score of 45.0153153146835 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.

PATK has been the subject of a number of recent research reports. Robert W. Baird reaffirmed a “buy” rating on shares of Patrick Industries in a research report on Thursday, October 12th. Zacks Investment Research raised Patrick Industries from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a research report on Saturday, September 16th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $75.00 price target (up previously from $72.00) on shares of Patrick Industries in a research report on Monday, June 19th. Finally, BidaskClub downgraded Patrick Industries from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $80.75.

Patrick Industries (NASDAQ PATK) traded down 0.94% during trading on Tuesday, reaching $84.15. The company’s stock had a trading volume of 46,612 shares. The stock has a market cap of $1.42 billion, a PE ratio of 20.57 and a beta of 0.88. Patrick Industries has a 12 month low of $50.80 and a 12 month high of $87.90. The company’s 50-day moving average is $79.01 and its 200-day moving average is $73.01.

Patrick Industries (NASDAQ:PATK) last announced its earnings results on Thursday, July 27th. The construction company reported $1.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.12. The company had revenue of $407.20 million for the quarter, compared to analysts’ expectations of $384.54 million. Patrick Industries had a return on equity of 26.46% and a net margin of 4.66%. Patrick Industries’s quarterly revenue was up 29.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.10 earnings per share. Equities analysts expect that Patrick Industries will post $4.35 EPS for the current fiscal year.

In related news, Director Walter E. Wells sold 3,000 shares of Patrick Industries stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $72.12, for a total transaction of $216,360.00. Following the transaction, the director now owns 44,240 shares of the company’s stock, valued at $3,190,588.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Andy L. Nemeth sold 10,000 shares of Patrick Industries stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $79.95, for a total value of $799,500.00. Following the transaction, the president now directly owns 79,193 shares in the company, valued at approximately $6,331,480.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 198,546 shares of company stock worth $16,327,660. 6.20% of the stock is owned by insiders.

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About Patrick Industries

Patrick Industries, Inc is a manufacturer of component products and distributor of building products and materials for the recreational vehicle (RV) and manufactured housing (MH) industrial markets for customers throughout the United States and Canada. In addition, it is a supplier to certain other industrial markets, such as kitchen cabinet, office and household furniture, fixtures and commercial furnishings, marine, and other industrial markets.

Insider Buying and Selling by Quarter for Patrick Industries (NASDAQ:PATK)

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