Patrick Industries, Inc. (PATK) Announces Earnings Results, Meets Expectations
Patrick Industries, Inc. (NASDAQ:PATK) released its quarterly earnings results on Thursday. The company reported $0.89 EPS for the quarter, meeting analysts’ consensus estimates of $0.89. Patrick Industries had a return on equity of 35.44% and a net margin of 4.60%. The firm had revenue of $323.90 million for the quarter, compared to analyst estimates of $302.05 million. During the same quarter in the previous year, the company posted $0.78 EPS. The business’s revenue was up 30.3% on a year-over-year basis.
Shares of Patrick Industries (NASDAQ:PATK) opened at 81.00 on Friday. The firm has a 50 day moving average price of $80.97 and a 200-day moving average price of $68.72. Patrick Industries has a 52-week low of $40.00 and a 52-week high of $86.10. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 23.49 and a beta of 1.20.
This news story was published by Watch List News and is owned by of Watch List News. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of U.S. and international copyright and trademark legislation. The original version of this news story can be accessed at http://www.watchlistnews.com/patrick-industries-inc-patk-announces-earnings-results-meets-expectations/1121577.html.
In related news, CEO Todd M. Cleveland sold 10,000 shares of Patrick Industries stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $85.30, for a total transaction of $853,000.00. Following the completion of the sale, the chief executive officer now owns 352,227 shares of the company’s stock, valued at $30,044,963.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey L. Et Al Gendell sold 400 shares of Patrick Industries stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $82.75, for a total value of $33,100.00. The disclosure for this sale can be found here. Insiders sold 207,854 shares of company stock valued at $15,393,509 over the last ninety days. Corporate insiders own 6.20% of the company’s stock.
About Patrick Industries
Patrick Industries, Inc (Patrick) is a manufacturer of component products and distributor of building products and materials for the recreational vehicle (RV) and manufactured housing (MH) industries. The Company operates in two segments: Manufacturing and Distribution. The Company’s manufacturing segment’s lamination operations utilizes various materials, such as lauan, medium density fiberboard (MDF), gypsum, and particleboard, which are bonded by adhesives or a heating process to a number of products, including vinyl, paper, foil and high-pressure laminates.
Receive News & Ratings for Patrick Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patrick Industries Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.