A number of other research analysts have also recently commented on PATK. ValuEngine cut W&T Offshore from a hold rating to a sell rating in a research report on Friday, April 26th. Zacks Investment Research cut Green Plains from a hold rating to a strong sell rating in a research report on Thursday, June 27th. Bank of America set a $275.00 price target on SVB Financial Group and gave the company a buy rating in a research report on Friday, April 26th. TheStreet raised Patrick Industries from a c+ rating to a b- rating in a research report on Monday, March 18th. Finally, KeyCorp upped their price target on Rapid7 from $50.00 to $60.00 and gave the company an overweight rating in a research report on Monday, April 15th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Patrick Industries has a consensus rating of Hold and an average target price of $58.40.
PATK stock traded up $0.25 during midday trading on Tuesday, hitting $44.35. The company’s stock had a trading volume of 24,282 shares, compared to its average volume of 137,186. The company’s 50-day moving average is $45.81. The company has a current ratio of 1.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.56. Patrick Industries has a 1 year low of $27.32 and a 1 year high of $67.50. The stock has a market cap of $1.06 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 1.48 and a beta of 2.03.
In other Patrick Industries news, Director Jeffrey L. Et Al Gendell sold 45,254 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $46.45, for a total value of $2,102,048.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Walter E. Wells sold 10,000 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $50.60, for a total value of $506,000.00. Following the completion of the transaction, the director now owns 50,030 shares in the company, valued at $2,531,518. The disclosure for this sale can be found here. Insiders own 7.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in PATK. Waratah Capital Advisors Ltd. bought a new position in Patrick Industries in the 1st quarter worth about $12,598,000. Norges Bank purchased a new position in shares of Patrick Industries in the 4th quarter worth about $7,140,000. Deutsche Bank AG boosted 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. RK Capital Management LLC purchased a new position in shares of Patrick Industries in the 1st quarter worth about $6,549,000. Finally, Timucuan Asset Management Inc. FL boosted its holdings in shares of Patrick Industries by 640.0% in the 1st quarter. Timucuan Asset Management Inc. FL now owns 74,000 shares of the construction company’s stock worth $3,354,000 after purchasing an additional 64,000 shares in the last quarter. Institutional investors and hedge funds own 91.55% 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.
Further Reading: Trading Strategy Methods for Individual Investors
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.