Wall Street analysts expect that Patrick Industries, Inc. (NASDAQ:PATK) will report $603.27 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Patrick Industries’ earnings, with the highest sales estimate coming in at $628.81 million and the lowest estimate coming in at $570.60 million. Patrick Industries reported sales of $575.14 million in the same quarter last year, which indicates a positive year over year growth rate of 4.9%. The business is scheduled to issue its next quarterly earnings results on Thursday, October 24th.
According to Zacks, analysts expect that Patrick Industries will report full-year sales of $2.38 billion for the current fiscal year, with estimates ranging from $2.35 billion to $2.43 billion. For the next financial year, analysts forecast that the firm will report sales of $2.48 billion, with estimates ranging from $2.44 billion to $2.51 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Patrick Industries.
Patrick Industries (NASDAQ:PATK) last announced its quarterly earnings data on Thursday, July 25th. The construction company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. The business had revenue of $613.20 million during the quarter, compared to analysts’ expectations of $621.33 million. Patrick Industries had a return on equity of 23.07% and a net margin of 4.43%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.42 EPS.
In other news, Director Jeffrey L. Et Al Gendell sold 45,254 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $46.45, for a total value of $2,102,048.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director M Scott Welch acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $39.00 per share, for a total transaction of $390,000.00. The disclosure for this purchase can be found here. 7.60% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of PATK. TimesSquare Capital Management LLC purchased a new stake in shares of Patrick Industries in the second quarter valued at approximately $20,429,000. Waratah Capital Advisors Ltd. purchased a new position in Patrick Industries in the 1st quarter valued at approximately $12,598,000. RK Capital Management LLC acquired a new position in Patrick Industries during the first quarter worth $6,549,000. Nuveen Asset Management LLC grew its holdings in Patrick Industries by 746.4% in the second quarter. Nuveen Asset Management LLC now owns 101,814 shares of the construction company’s stock valued at $5,008,000 after purchasing an additional 89,785 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Patrick Industries by 154.7% in the second quarter. Morgan Stanley now owns 131,644 shares of the construction company’s stock valued at $6,476,000 after buying an additional 79,960 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ PATK traded up $2.87 on Friday, hitting $38.58. 173,023 shares of the stock were exchanged, compared to its average volume of 229,583. Patrick Industries has a fifty-two week low of $27.32 and a fifty-two week high of $67.50. The company has a 50-day moving average price of $39.74 and a 200-day moving average price of $44.76. The company has a market cap of $825.86 million, a PE ratio of 8.30, a PEG ratio of 1.25 and a beta of 2.10. The company has a quick ratio of 0.78, a current ratio of 2.01 and a debt-to-equity ratio of 1.37.
About Patrick Industries
Patrick Industries, Inc manufactures and distributes building products and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States and Canada. Its Manufacturing segment manufactures and sells furniture, shelving, walls, countertops, and cabinet products; cabinet doors, fiberglass bath fixtures, and tile systems; hardwood furniture, vinyl printing, solid surface, granite, and quartz countertop fabrication products; RV paintings; fabricated aluminum products; decorative vinyl and paper laminated panels; fiberglass and plastic components; softwoods lumber; custom cabinets; polymer-based flooring products; and electrical systems and components, including instrument and dash panels, and other products.
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