Patrick Industries (NASDAQ:PATK) is scheduled to release its earnings data before the market opens on Wednesday, February 14th. Analysts expect Patrick Industries to post earnings of $1.07 per share for the quarter.
Patrick Industries (NASDAQ PATK) opened at $60.75 on Wednesday. Patrick Industries has a one year low of $40.07 and a one year high of $72.35. 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 company has a market cap of $1,545.51, a price-to-earnings ratio of 20.84, a PEG ratio of 1.28 and a beta of 0.84.
Patrick Industries declared that its Board of Directors has approved a share buyback plan on Tuesday, January 30th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
A number of brokerages have recently commented on PATK. BidaskClub downgraded shares of Patrick Industries from a “buy” rating to a “hold” rating in a research note on Saturday. Robert W. Baird reissued a “buy” rating on shares of Patrick Industries in a research note on Thursday, October 12th. Bank of America raised their target price on shares of Patrick Industries from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. ValuEngine raised shares of Patrick Industries from a “hold” rating to a “buy” rating in a research note on Monday, December 11th. Finally, Zacks Investment Research raised shares of Patrick Industries from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Thursday, October 26th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Patrick Industries currently has a consensus rating of “Buy” and a consensus target price of $72.40.
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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.
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