Patrick Industries (NASDAQ:PATK – Get Free Report) released its quarterly earnings data on Thursday. The construction company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.47, Briefing.com reports. Patrick Industries had a net margin of 4.12% and a return on equity of 14.31%. The company had revenue of $933.50 million during the quarter, compared to analysts’ expectations of $829.22 million. During the same quarter in the previous year, the company earned $1.35 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis.
Patrick Industries Price Performance
Shares of Patrick Industries stock traded up $0.79 on Friday, hitting $111.13. 230,452 shares of the company were exchanged, compared to its average volume of 170,227. The company has a quick ratio of 0.73, a current ratio of 2.38 and a debt-to-equity ratio of 0.97. The company has a 50-day moving average price of $112.23 and a 200 day moving average price of $98.94. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 0.64 and a beta of 1.73. Patrick Industries has a 1-year low of $63.57 and a 1-year high of $123.58.
Patrick Industries Announces Dividend
The firm also recently announced 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 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Friday, February 16th. Patrick Industries’s dividend payout ratio (DPR) is 33.79%.
Insider Activity at Patrick Industries
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on PATK. Truist Financial reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Patrick Industries in a report on Friday, April 12th. BMO Capital Markets lifted their price objective on shares of Patrick Industries from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Friday. StockNews.com cut shares of Patrick Industries from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. Roth Mkm upped their price target on shares of Patrick Industries from $101.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, KeyCorp lifted their price objective on Patrick Industries from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Patrick Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.86.
Check Out Our Latest Report on Patrick Industries
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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