Wall Street analysts expect Patrick Industries, Inc. (NASDAQ:PATK) to announce earnings per share (EPS) of $0.73 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Patrick Industries’ earnings, with estimates ranging from $0.72 to $0.74. Patrick Industries posted earnings of $0.59 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 23.7%. The business is scheduled to announce its next quarterly earnings results on Thursday, February 15th.

According to Zacks, analysts expect that Patrick Industries will report full year earnings of $3.05 per share for the current year, with EPS estimates ranging from $3.04 to $3.06. For the next fiscal year, analysts expect that the company will post earnings of $3.62 per share, with EPS estimates ranging from $3.55 to $3.72. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Patrick Industries.

Patrick Industries (NASDAQ:PATK) last announced its quarterly earnings data on Thursday, October 26th. The construction company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.62 by $0.10. The business had revenue of $407.50 million during the quarter, compared to analyst estimates of $371.98 million. Patrick Industries had a return on equity of 24.60% and a net margin of 4.73%. The company’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 earnings per share.

Several equities analysts have recently weighed in on PATK shares. Zacks Investment Research downgraded Patrick Industries from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. Robert W. Baird restated a “buy” rating and set a $72.00 price target on shares of Patrick Industries in a report on Friday, December 22nd. Bank of America raised their price target on Patrick Industries from $56.67 to $62.00 and gave the company a “buy” rating in a report on Tuesday, October 24th. Wells Fargo & Co restated a “market perform” rating and set a $66.00 price target (down from $90.00) on shares of Patrick Industries in a report on Thursday, December 14th. Finally, KeyCorp started coverage on Patrick Industries in a report on Friday, December 15th. They set an “overweight” rating and a $80.00 price target for the company. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $68.80.

In related news, Director John A. Forbes sold 1,000 shares of Patrick Industries stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $65.80, for a total value of $65,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey L. Et Al Gendell sold 25,000 shares of Patrick Industries stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $89.55, for a total value of $2,238,750.00. The disclosure for this sale can be found here. Insiders have sold 60,234 shares of company stock valued at $5,623,018 over the last 90 days. Corporate insiders own 5.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in Patrick Industries by 1.1% in the 2nd quarter. Royal Bank of Canada now owns 1,665,617 shares of the construction company’s stock worth $121,340,000 after buying an additional 18,443 shares in the last quarter. Vanguard Group Inc. increased its holdings in Patrick Industries by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 812,130 shares of the construction company’s stock worth $59,164,000 after buying an additional 24,830 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Patrick Industries by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 675,042 shares of the construction company’s stock worth $56,771,000 after buying an additional 2,083 shares in the last quarter. State Street Corp increased its holdings in Patrick Industries by 9.9% in the 2nd quarter. State Street Corp now owns 382,418 shares of the construction company’s stock worth $27,859,000 after buying an additional 34,456 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Patrick Industries by 4.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 311,208 shares of the construction company’s stock worth $26,111,000 after buying an additional 12,458 shares in the last quarter. Institutional investors own 59.53% of the company’s stock.

Patrick Industries (NASDAQ PATK) opened at $67.75 on Tuesday. Patrick Industries has a twelve month low of $40.07 and a twelve month high of $71.13. The company has a current ratio of 2.23, a quick ratio of 1.00 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $1,710.00, a price-to-earnings ratio of 22.89, a PEG ratio of 1.63 and a beta of 0.98.

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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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