PATK has been the topic of several other reports. Zacks Investment Research upgraded shares of Patrick Industries from a sell rating to a hold rating in a research report on Thursday, August 8th. ValuEngine lowered shares of Patrick Industries from a hold rating to a sell rating in a research report on Friday, April 26th. Bank of America lowered shares of Patrick Industries from a buy rating to an underperform rating and set a $52.00 target price on the stock. in a research report on Friday, April 26th. They noted that the move was a valuation call. Finally, TheStreet lowered shares of Patrick Industries from a b- rating to a c+ rating in a research report on Friday, August 2nd. Three investment 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’s stock. The company has a consensus rating of Hold and a consensus price target of $58.40.
Shares of PATK opened at $38.72 on Friday. 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’s 50-day moving average is $44.78 and its two-hundred day moving average is $45.59. Patrick Industries has a twelve month low of $27.32 and a twelve month high of $67.50. The firm has a market capitalization of $889.12 million, a P/E ratio of 8.33, a PEG ratio of 1.30 and a beta of 2.00.
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 shares were sold at an average price of $46.45, for a total value of $2,102,048.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 7.60% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc purchased a new stake in shares of Patrick Industries in the first quarter valued at about $32,000. Cutler Group LP purchased a new stake in shares of Patrick Industries in the first quarter valued at about $53,000. Private Capital Group LLC purchased a new stake in shares of Patrick Industries in the second quarter valued at about $56,000. Tyers Asset Management LLC lifted its holdings in shares of Patrick Industries by 20.4% in the second quarter. Tyers Asset Management LLC now owns 2,736 shares of the construction company’s stock valued at $135,000 after purchasing an additional 464 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Patrick Industries by 187.3% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,747 shares of the construction company’s stock valued at $135,000 after purchasing an additional 1,791 shares in the last quarter. 92.09% of the stock is currently owned by institutional investors.
Patrick Industries Company Profile
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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