Analysts’ Weekly Ratings Changes for Patrick Industries (PATK)

Patrick Industries (NASDAQ: PATK) has recently received a number of price target changes and ratings updates:

  • 4/16/2019 – Patrick Industries was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 4/15/2019 – Patrick Industries had its price target raised by analysts at KeyCorp from $55.00 to $60.00. They now have an “overweight” rating on the stock.
  • 4/10/2019 – Patrick Industries was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 4/4/2019 – Patrick Industries was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $50.00 price target on the stock. According to Zacks, “Patrick Industries, Inc. is a major manufacturer of component products and distributor of building products and materials for the Recreational Vehicle, Manufactured Housing and Marine industries. The Company also supplies many of its products to certain Industrial markets that include customers in the kitchen cabinet, office and household furniture, fixtures and commercial furnishings and other industrial markets. Patrick’s major manufactured products include decorative vinyl and paper laminated panels, solid surface, granite and quartz countertops, fabricated aluminum products, wrapped vinyl, paper and hardwood profile moldings, slide-out trim and fascia, cabinet doors and components, fiberglass bath fixtures, fiberglass and plastic helm systems and component products, wiring and wiring harnesses, and composite parts and polymer-based flooring and other products. Patrick Industries also distributes pre-finished wall and ceiling panels, drywall finishing products, and other miscellaneous products. “
  • 3/30/2019 – Patrick Industries was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 3/26/2019 – Patrick Industries is now covered by analysts at Bank of America Corp. They set a “buy” rating and a $53.00 price target on the stock.
  • 3/20/2019 – Patrick Industries was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 3/18/2019 – Patrick Industries was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating.
  • 3/13/2019 – Patrick Industries was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Patrick Industries, Inc. is a major manufacturer of component products and distributor of building products and materials for the Recreational Vehicle, Manufactured Housing and Marine industries. The Company also supplies many of its products to certain Industrial markets that include customers in the kitchen cabinet, office and household furniture, fixtures and commercial furnishings and other industrial markets. Patrick’s major manufactured products include decorative vinyl and paper laminated panels, solid surface, granite and quartz countertops, fabricated aluminum products, wrapped vinyl, paper and hardwood profile moldings, slide-out trim and fascia, cabinet doors and components, fiberglass bath fixtures, fiberglass and plastic helm systems and component products, wiring and wiring harnesses, and composite parts and polymer-based flooring and other products. Patrick Industries also distributes pre-finished wall and ceiling panels, drywall finishing products, and other miscellaneous products. “
  • 3/7/2019 – Patrick Industries was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 3/1/2019 – Patrick Industries was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 2/27/2019 – Patrick Industries had its price target raised by analysts at Wells Fargo & Co from $30.00 to $49.00. They now have a “market perform” rating on the stock.
  • 2/23/2019 – Patrick Industries was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 2/19/2019 – Patrick Industries had its price target raised by analysts at KeyCorp from $50.00 to $55.00. They now have an “outperform” rating on the stock.

PATK stock opened at $55.13 on Friday. Patrick Industries, Inc. has a 52 week low of $27.32 and a 52 week high of $67.50. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 11.86, a P/E/G ratio of 0.97 and a beta of 1.91. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.71 and a current ratio of 2.44.

Patrick Industries (NASDAQ:PATK) last released its quarterly earnings results on Thursday, February 14th. The construction company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.21. Patrick Industries had a net margin of 5.30% and a return on equity of 28.26%. The company had revenue of $531.00 million for the quarter, compared to the consensus estimate of $519.00 million. During the same period in the previous year, the firm earned $0.87 EPS. Patrick Industries’s revenue was up 11.6% on a year-over-year basis. On average, research analysts expect that Patrick Industries, Inc. will post 4.77 EPS for the current year.

In other Patrick Industries news, Director Walter E. Wells sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $45.34, for a total transaction of $45,340.00. Following the sale, the director now directly owns 60,030 shares in the company, valued at approximately $2,721,760.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Cascade Investment Advisors Inc. bought a new stake in shares of Patrick Industries in the 1st quarter worth approximately $574,000. 6 Meridian bought a new stake in shares of Patrick Industries in the 1st quarter worth approximately $257,000. Mesirow Financial Investment Management Inc. raised its holdings in shares of Patrick Industries by 46.3% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 10,176 shares of the construction company’s stock worth $461,000 after purchasing an additional 3,222 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Patrick Industries by 112.7% in the 4th quarter. Deutsche Bank AG now owns 431,100 shares of the construction company’s stock worth $12,763,000 after purchasing an additional 228,424 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Patrick Industries by 65.4% in the 4th quarter. American Century Companies Inc. now owns 148,769 shares of the construction company’s stock worth $4,405,000 after purchasing an additional 58,809 shares in the last quarter. Institutional investors own 89.51% of the company’s stock.

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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