Patrick Industries, Inc. (NASDAQ:PATK) Director John A. Forbes sold 1,000 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $65.80, for a total value of $65,800.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Patrick Industries, Inc. (NASDAQ:PATK) traded down $0.90 during mid-day trading on Thursday, hitting $64.85. The stock had a trading volume of 113,461 shares, compared to its average volume of 176,679. Patrick Industries, Inc. has a 1-year low of $40.07 and a 1-year high of $68.63. The company has a quick ratio of 1.00, a current ratio of 2.23 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $1,650.00, a PE ratio of 22.17, a price-to-earnings-growth ratio of 2.03 and a beta of 0.99.

Patrick Industries (NASDAQ:PATK) last posted its quarterly earnings data on Thursday, October 26th. The construction company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.10. Patrick Industries had a return on equity of 24.60% and a net margin of 4.73%. The business had revenue of $407.50 million for the quarter, compared to analysts’ expectations of $371.98 million. During the same quarter last year, the firm earned $0.53 earnings per share. The business’s revenue was up 34.0% on a year-over-year basis. sell-side analysts forecast that Patrick Industries, Inc. will post 3.02 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC raised its position in shares of Patrick Industries by 19.4% in the 2nd quarter. Voya Investment Management LLC now owns 7,158 shares of the construction company’s stock worth $521,000 after buying an additional 1,163 shares during the period. Legal & General Group Plc raised its position in shares of Patrick Industries by 9.7% in the 2nd quarter. Legal & General Group Plc now owns 28,863 shares of the construction company’s stock worth $2,105,000 after buying an additional 2,548 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Patrick Industries in the 2nd quarter worth $873,000. Piedmont Investment Advisors LLC purchased a new position in shares of Patrick Industries in the 2nd quarter worth $251,000. Finally, Dimensional Fund Advisors LP raised its position in Patrick Industries by 2.3% in the second quarter. Dimensional Fund Advisors LP now owns 672,959 shares of the construction company’s stock valued at $49,026,000 after purchasing an additional 15,321 shares during the period. 89.33% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently weighed in on PATK. Zacks Investment Research cut Patrick Industries from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Robert W. Baird restated a “buy” rating on shares of Patrick Industries in a report on Thursday, October 12th. Wells Fargo & Company restated a “market perform” rating and issued a $66.00 price target (down previously from $90.00) on shares of Patrick Industries in a report on Thursday. ValuEngine upgraded Patrick Industries from a “hold” rating to a “buy” rating in a report on Monday. Finally, Bank of America increased their target price on Patrick Industries from $56.67 to $62.00 and gave the company a “buy” rating in a report on Tuesday, October 24th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Patrick Industries presently has an average rating of “Buy” and a consensus price target of $60.33.

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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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