Patrick Industries, Inc. Forecasted to Earn FY2025 Earnings of $10.22 Per Share (NASDAQ:PATK)

Patrick Industries, Inc. (NASDAQ:PATK) – Equities researchers at Roth Capital lifted their FY2025 earnings estimates for Patrick Industries in a note issued to investors on Monday, May 6th. Roth Capital analyst S. Stember now anticipates that the construction company will earn $10.22 per share for the year, up from their previous estimate of $9.85. The consensus estimate for Patrick Industries’ current full-year earnings is $8.05 per share.

PATK has been the subject of several other reports. Roth Mkm reiterated a “buy” rating and issued a $126.00 target price (up from $120.00) on shares of Patrick Industries in a report on Monday. BMO Capital Markets increased their target price on Patrick Industries from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. StockNews.com downgraded Patrick Industries from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. KeyCorp increased their price target on shares of Patrick Industries from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Patrick Industries in a research report on Friday, April 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $106.71.

Patrick Industries Trading Up 0.4 %

NASDAQ PATK opened at $114.55 on Tuesday. Patrick Industries has a 12 month low of $63.57 and a 12 month high of $123.58. The company’s 50-day moving average price is $112.03 and its 200-day moving average price is $100.19. The stock has a market cap of $2.57 billion, a PE ratio of 16.97 and a beta of 1.73. The company has a current ratio of 2.38, a quick ratio of 0.96 and a debt-to-equity ratio of 1.32.

Patrick Industries (NASDAQ:PATK) last announced its earnings results on Thursday, May 2nd. The construction company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.47. The business had revenue of $933.50 million during the quarter, compared to analyst estimates of $829.22 million. Patrick Industries had a return on equity of 14.90% and a net margin of 4.22%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.35 earnings per share.

Insiders Place Their Bets

In other news, insider Kip B. Ellis sold 7,462 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $121.99, for a total value of $910,289.38. Following the sale, the insider now directly owns 101,316 shares of the company’s stock, valued at approximately $12,359,538.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Andy L. Nemeth sold 5,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $118.00, for a total value of $590,000.00. Following the completion of the transaction, the chief executive officer now directly owns 279,619 shares in the company, valued at approximately $32,995,042. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kip B. Ellis sold 7,462 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $121.99, for a total transaction of $910,289.38. Following the sale, the insider now owns 101,316 shares in the company, valued at approximately $12,359,538.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,873 shares of company stock valued at $5,681,957. 4.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Patrick Industries

A number of large investors have recently bought and sold shares of PATK. GAMMA Investing LLC purchased a new position in Patrick Industries in the 4th quarter valued at $35,000. Carmel Capital Partners LLC acquired a new stake in shares of Patrick Industries in the third quarter valued at approximately $44,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Patrick Industries by 21.6% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,340 shares of the construction company’s stock worth $102,000 after buying an additional 238 shares during the last quarter. Xponance Inc. purchased a new stake in Patrick Industries in the 4th quarter valued at $203,000. Finally, Heritage Wealth Management LLC acquired a new stake in shares of Patrick Industries in the 4th quarter worth $238,000. Institutional investors and hedge funds own 93.29% of the company’s stock.

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.