$1.17 Earnings Per Share Expected for Patrick Industries, Inc. (PATK) This Quarter
Brokerages expect Patrick Industries, Inc. (NASDAQ:PATK) to announce earnings per share of $1.17 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Patrick Industries’ earnings, with the highest EPS estimate coming in at $1.19 and the lowest estimate coming in at $1.15. Patrick Industries reported earnings of $1.10 per share in the same quarter last year, which would suggest a positive year over year growth rate of 6.4%. The company is scheduled to issue its next earnings report on Thursday, July 27th.
On average, analysts expect that Patrick Industries will report full-year earnings of $4.17 per share for the current fiscal year, with EPS estimates ranging from $4.11 to $4.23. For the next fiscal year, analysts anticipate that the business will post earnings of $4.61 per share, with EPS estimates ranging from $4.51 to $4.67. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Patrick Industries.
Patrick Industries (NASDAQ:PATK) last issued its quarterly earnings results on Thursday, April 27th. The construction company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.26. The firm had revenue of $345 million during the quarter, compared to analyst estimates of $327.37 million. Patrick Industries had a return on equity of 29.55% and a net margin of 4.64%. The firm’s revenue was up 23.8% on a year-over-year basis.
Several research analysts recently weighed in on PATK shares. Wells Fargo & Company started coverage on shares of Patrick Industries in a research report on Monday, March 20th. They issued a “market perform” rating for the company. Bank of America Corporation started coverage on shares of Patrick Industries in a research report on Monday, April 17th. They issued a “buy” rating and a $80.00 price objective for the company. Robert W. Baird started coverage on shares of Patrick Industries in a research report on Friday, April 21st. They issued an “outperform” rating and a $74.00 price objective for the company. Zacks Investment Research upgraded shares of Patrick Industries from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Tuesday, May 23rd. Finally, BidaskClub upgraded shares of Patrick Industries from a “hold” rating to a “buy” rating in a research report on Friday, June 9th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $76.33.
In other Patrick Industries news, Director M Scott Welch bought 5,000 shares of the stock in a transaction on Thursday, May 18th. The stock was purchased at an average price of $66.50 per share, with a total value of $332,500.00. Following the acquisition, the director now owns 24,908 shares of the company’s stock, valued at $1,656,382. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 6.20% of the company’s stock.
An institutional investor recently raised its position in Patrick Industries stock. Public Employees Retirement System of Ohio raised its position in Patrick Industries, Inc. (NASDAQ:PATK) by 2.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,005 shares of the construction company’s stock after buying an additional 1,877 shares during the period. Public Employees Retirement System of Ohio owned about 0.55% of Patrick Industries worth $5,956,000 at the end of the most recent quarter. 89.45% of the stock is owned by institutional investors.
Shares of Patrick Industries (NASDAQ:PATK) traded up 0.79% during trading on Monday, reaching $76.55. The company’s stock had a trading volume of 24,506 shares. Patrick Industries has a 12 month low of $50.80 and a 12 month high of $86.10. The company’s 50-day moving average is $71.19 and its 200-day moving average is $73.80. The company has a market capitalization of $1.28 billion, a P/E ratio of 19.57 and a beta of 0.86.
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Patrick Industries Company Profile
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.
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