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Shares of Patrick Industries, Inc. (NASDAQ:PATK - Get Rating) have earned a consensus recommendation of "Hold" from the six analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $74.00.
PATK has been the subject of a number of recent analyst reports. Truist Financial decreased their target price on shares of Patrick Industries to $75.00 in a research report on Thursday, May 26th. StockNews.com lowered shares of Patrick Industries from a "buy" rating to a "hold" rating in a research report on Tuesday, May 31st. KeyCorp increased their target price on shares of Patrick Industries from $65.00 to $68.00 and gave the company an "overweight" rating in a research report on Monday, August 1st. TheStreet lowered shares of Patrick Industries from a "b-" rating to a "c+" rating in a research report on Thursday, July 14th. Finally, MKM Partners started coverage on shares of Patrick Industries in a research report on Thursday, May 5th. They issued a "buy" rating and a $93.00 target price for the company.Patrick Industries Stock Up 2.1 %
Patrick Industries stock opened at $62.48 on Monday. The company has a 50-day simple moving average of $56.10 and a 200-day simple moving average of $61.41. The firm has a market capitalization of $1.43 billion, a P/E ratio of 4.34, a P/E/G ratio of 0.54 and a beta of 1.93. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.02 and a current ratio of 2.58. Patrick Industries has a one year low of $49.79 and a one year high of $88.79.
Patrick Industries (NASDAQ:PATK - Get Rating) last announced its earnings results on Thursday, July 28th. The construction company reported $5.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.42 by $1.89. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.23 billion. Patrick Industries had a net margin of 6.92% and a return on equity of 45.44%. As a group, equities analysts expect that Patrick Industries will post 13.63 earnings per share for the current year. Patrick Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Monday, August 29th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Friday, August 26th. Patrick Industries's dividend payout ratio is presently 9.17%. Institutional Trading of Patrick Industries
Hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in shares of Patrick Industries in the 2nd quarter valued at about $71,000. Renaissance Technologies LLC increased its holdings in shares of Patrick Industries by 96.5% in the 2nd quarter. Renaissance Technologies LLC now owns 68,002 shares of the construction company's stock valued at $3,525,000 after purchasing an additional 33,400 shares during the period. Brandywine Global Investment Management LLC increased its holdings in shares of Patrick Industries by 64.2% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 58,725 shares of the construction company's stock valued at $3,044,000 after purchasing an additional 22,963 shares during the period. Rhumbline Advisers increased its holdings in shares of Patrick Industries by 10.8% in the 2nd quarter. Rhumbline Advisers now owns 64,114 shares of the construction company's stock valued at $3,324,000 after purchasing an additional 6,260 shares during the period. Finally, AlphaCrest Capital Management LLC increased its holdings in shares of Patrick Industries by 42.4% in the 2nd quarter. AlphaCrest Capital Management LLC now owns 15,501 shares of the construction company's stock valued at $804,000 after purchasing an additional 4,617 shares during the period. 94.85% of the stock is owned by hedge funds and other institutional investors. Patrick Industries Company Profile (Get Rating)
Patrick Industries, Inc manufactures and distributes components, building products, and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States, China, and Canada. Its Manufacturing segment manufactures and sells furniture, shelving, wall, countertop, and cabinet product; cabinet door, fiberglass bath fixture, and tile system; hardwood furniture, vinyl printing, amplifiers, tower speakers, soundbars, and subwoofers; solid surface, granite, and quartz countertop fabrication; aluminum product; fiberglass and plastic components; RV painting; decorative vinyl and paper laminated panels; softwoods lumber; custom cabinet; polymer-based flooring product; dash panels; and other products.Featured StoriesGet a free copy of the StockNews.com research report on Patrick Industries (PATK)Here is a Simple 4 Stock Portfolio that Can Outperform the MarketIs AMC Entertainment Pulling a Fast One on the APEs?Here’s How the Inflation Reduction Act Energizes Power Stock2 Important Retail Stock Battles to WatchMarketBeat: Week in Review 8/8 - 8/12
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