Shares of Patrick Industries, Inc. (NASDAQ:PATK) have been given a consensus rating of “Hold” by the eight ratings firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $60.50.

PATK has been the topic of a number of research analyst reports. BidaskClub raised shares of Patrick Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 23rd. Wells Fargo & Co increased their price target on shares of Patrick Industries from $30.00 to $49.00 and gave the company a “market perform” rating in a report on Wednesday, February 27th. ValuEngine raised shares of Patrick Industries from a “strong sell” rating to a “sell” rating in a report on Friday, March 1st. Zacks Investment Research raised shares of Patrick Industries from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Finally, TheStreet raised shares of Patrick Industries from a “c+” rating to a “b-” rating in a report on Monday, March 18th.

In other Patrick Industries news, Director Jeffrey L. Et Al Gendell sold 45,254 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $46.45, for a total transaction of $2,102,048.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Walter E. Wells sold 10,000 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $50.60, for a total transaction of $506,000.00. Following the transaction, the director now owns 50,030 shares in the company, valued at approximately $2,531,518. The disclosure for this sale can be found here. 7.60% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in PATK. Waratah Capital Advisors Ltd. acquired a new position in shares of Patrick Industries during the 1st quarter worth approximately $12,598,000. Norges Bank acquired a new position in shares of Patrick Industries during the 4th quarter worth approximately $7,140,000. Deutsche Bank AG grew its position in shares of Patrick Industries by 112.7% during 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 acquired a new position in shares of Patrick Industries during the 1st quarter worth approximately $6,549,000. Finally, LSV Asset Management acquired a new position in shares of Patrick Industries during the 4th quarter worth approximately $3,543,000. Hedge funds and other institutional investors own 91.52% of the company’s stock.

Shares of PATK stock traded up $0.26 on Friday, reaching $48.09. The stock had a trading volume of 177,780 shares, compared to its average volume of 134,286. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.75 and a current ratio of 1.97. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 1.59 and a beta of 2.01. Patrick Industries has a 12 month low of $27.32 and a 12 month high of $67.50.

Patrick Industries (NASDAQ:PATK) last issued its earnings results on Thursday, April 25th. The construction company reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.02. The company had revenue of $608.20 million for the quarter, compared to analysts’ expectations of $595.67 million. Patrick Industries had a net margin of 4.77% and a return on equity of 25.64%. Patrick Industries’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 EPS. Sell-side analysts predict that Patrick Industries will post 4.29 EPS for the current fiscal year.

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.

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