M Scott Welch Buys 10,000 Shares of Patrick Industries, Inc. (NASDAQ:PATK) Stock

Patrick Industries, Inc. (NASDAQ:PATK) Director M Scott Welch purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average price of $39.00 per share, for a total transaction of $390,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

NASDAQ:PATK opened at $38.94 on Thursday. Patrick Industries, Inc. has a 1 year low of $27.32 and a 1 year high of $67.50. The firm’s fifty day simple moving average is $43.80 and its 200 day simple moving average is $45.48. The company has a current ratio of 2.01, a quick ratio of 0.78 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $924.20 million, a PE ratio of 8.37, a PEG ratio of 1.35 and a beta of 2.00.

Patrick Industries (NASDAQ:PATK) last posted its earnings results on Thursday, July 25th. The construction company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. Patrick Industries had a net margin of 4.43% and a return on equity of 23.07%. The business had revenue of $613.20 million for the quarter, compared to analyst estimates of $621.33 million. During the same period last year, the business posted $1.42 EPS. Patrick Industries’s revenue was up 1.4% compared to the same quarter last year. As a group, analysts anticipate that Patrick Industries, Inc. will post 4.18 EPS for the current fiscal year.



A number of research analysts have recently weighed in on PATK shares. Bank of America downgraded shares of Patrick Industries from a “buy” rating to an “underperform” rating and set a $52.00 price target on the stock. in a report on Friday, April 26th. They noted that the move was a valuation call. TheStreet downgraded shares of Patrick Industries from a “b-” rating to a “c+” rating in a report on Friday, August 2nd. ValuEngine downgraded shares of Patrick Industries from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Zacks Investment Research upgraded shares of Patrick Industries from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, BidaskClub downgraded shares of Patrick Industries from a “sell” rating to a “strong sell” rating in a report on Friday, August 16th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $58.40.

A number of large investors have recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Patrick Industries by 187.3% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,747 shares of the construction company’s stock worth $135,000 after buying an additional 1,791 shares during the last quarter. Private Capital Group LLC bought a new stake in shares of Patrick Industries during the second quarter worth approximately $56,000. Nuveen Asset Management LLC raised its stake in shares of Patrick Industries by 746.4% during the second quarter. Nuveen Asset Management LLC now owns 101,814 shares of the construction company’s stock worth $5,008,000 after buying an additional 89,785 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Patrick Industries by 2.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 809,549 shares of the construction company’s stock worth $39,822,000 after buying an additional 21,029 shares during the last quarter. Finally, Centaurus Financial Inc. bought a new stake in shares of Patrick Industries during the second quarter worth approximately $1,071,000. Institutional investors and hedge funds own 93.12% of the company’s stock.

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.

Featured Story: What is Call Option Volume?

Insider Buying and Selling by Quarter for Patrick Industries (NASDAQ:PATK)

Receive News & Ratings for Patrick Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patrick Industries and related companies with MarketBeat.com's FREE daily email newsletter.