Patrick Industries (NASDAQ:PATK – Get Free Report) announced its quarterly earnings data on Thursday. The construction company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.32 by $0.47, Briefing.com reports. The firm had revenue of $933.50 million for the quarter, compared to the consensus estimate of $829.22 million. Patrick Industries had a net margin of 4.22% and a return on equity of 14.90%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $1.35 EPS.
Patrick Industries Trading Up 0.7 %
Shares of PATK traded up $0.79 during mid-day trading on Friday, reaching $111.13. 230,452 shares of the company’s stock traded hands, compared to its average volume of 133,840. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.38 and a quick ratio of 0.73. The stock’s 50-day moving average is $112.17 and its two-hundred day moving average is $99.19. Patrick Industries has a 12 month low of $63.57 and a 12 month high of $123.58. The stock has a market cap of $2.49 billion, a P/E ratio of 16.46, a P/E/G ratio of 0.69 and a beta of 1.73.
Patrick Industries Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Tuesday, February 20th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.98%. The ex-dividend date was Friday, February 16th. Patrick Industries’s payout ratio is currently 32.59%.
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Analyst Ratings Changes
Several analysts have recently commented on PATK shares. KeyCorp raised their price objective on shares of Patrick Industries from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. BMO Capital Markets lifted their price target on shares of Patrick Industries from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Friday. Roth Mkm lifted their price target on shares of Patrick Industries from $101.00 to $120.00 and gave the company a “buy” rating in a report on Friday, February 9th. Truist Financial reiterated a “buy” rating and issued a $130.00 price target on shares of Patrick Industries in a report on Friday, April 12th. Finally, StockNews.com downgraded shares of Patrick Industries from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. One investment 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’s stock. Based on data from MarketBeat.com, Patrick Industries currently has an average rating of “Moderate Buy” and an average target price of $105.86.
Check Out Our Latest Analysis on PATK
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.
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