Equities research analysts expect Patrick Industries, Inc. (NASDAQ:PATK) to announce $627.23 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Patrick Industries’ earnings, with the highest sales estimate coming in at $668.34 million and the lowest estimate coming in at $591.14 million. Patrick Industries posted sales of $604.88 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.7%. The company is scheduled to report its next earnings report on Thursday, July 25th.

According to Zacks, analysts expect that Patrick Industries will report full year sales of $2.46 billion for the current financial year, with estimates ranging from $2.44 billion to $2.51 billion. For the next fiscal year, analysts expect that the company will report sales of $2.53 billion, with estimates ranging from $2.45 billion to $2.58 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Patrick Industries.

Patrick Industries (NASDAQ:PATK) last issued its quarterly earnings results on Thursday, April 25th. The construction company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.02. The company had revenue of $608.20 million for the quarter, compared to analyst estimates of $595.67 million. Patrick Industries had a net margin of 4.77% and a return on equity of 25.64%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 earnings per share.

A number of analysts recently weighed in on PATK shares. ValuEngine lowered shares of Patrick Industries from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 20th. BidaskClub upgraded shares of Patrick Industries from a “hold” rating to a “buy” rating in a research note on Thursday, February 14th. KeyCorp upped their target price on shares of Patrick Industries from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Zacks Investment Research lowered shares of Patrick Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Finally, Bank of America lowered shares of Patrick Industries from a “buy” rating to an “underperform” rating and set a $52.00 target price on the stock. in a research note on Friday, April 26th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $58.40.

PATK stock opened at $44.63 on Thursday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.75 and a current ratio of 1.97. Patrick Industries has a fifty-two week low of $27.32 and a fifty-two week high of $67.50. The company has a market cap of $1.06 billion, a P/E ratio of 9.60, a PEG ratio of 1.08 and a beta of 1.92.

In related news, Director Walter E. Wells sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $45.34, for a total transaction of $45,340.00. Following the sale, the director now directly owns 60,030 shares in the company, valued at $2,721,760.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Walter E. Wells sold 10,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $50.60, for a total transaction of $506,000.00. Following the completion of the transaction, the director now owns 50,030 shares in the company, valued at $2,531,518. The disclosure for this sale can be found here. 7.60% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in PATK. PRW Wealth Management LLC purchased a new position in Patrick Industries in the fourth quarter valued at approximately $25,000. Oppenheimer Asset Management Inc. purchased a new position in Patrick Industries in the fourth quarter valued at approximately $30,000. Versant Capital Management Inc purchased a new position in Patrick Industries in the first quarter valued at approximately $32,000. Ladenburg Thalmann Financial Services Inc. increased its stake in Patrick Industries by 186.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 956 shares of the construction company’s stock valued at $44,000 after purchasing an additional 622 shares during the last quarter. Finally, Cutler Group LP purchased a new position in Patrick Industries in the first quarter valued at approximately $53,000. Institutional investors own 91.21% of the company’s stock.

Patrick Industries Company Profile

Patrick Industries, Inc manufactures and distributes building products and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States and Canada. Its Manufacturing segment manufactures and sells furniture, shelving, walls, countertops, and cabinet products; cabinet doors, fiberglass bath fixtures, and tile systems; hardwood furniture, vinyl printing, solid surface, granite, and quartz countertop fabrication products; RV paintings; fabricated aluminum products; decorative vinyl and paper laminated panels; fiberglass and plastic components; softwoods lumber; custom cabinets; polymer-based flooring products; and electrical systems and components, including instrument and dash panels, and other products.

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