BidaskClub lowered shares of Patrick Industries (NASDAQ:PATK) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, BidAskClub reports.

Several other equities analysts have also weighed in on PATK. ValuEngine lowered shares of Patrick Industries from a sell rating to a strong sell rating in a report on Tuesday, November 19th. Robert W. Baird raised their price target on shares of Patrick Industries from $46.00 to $54.00 and gave the stock an outperform rating in a report on Friday, October 25th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Patrick Industries from a hold rating to a sell rating in a report on Saturday, October 5th. Finally, Bank of America reduced their price target on shares of Patrick Industries from $51.00 to $36.00 and set an underperform rating on the stock in a research report on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $49.80.

Shares of NASDAQ PATK traded up $0.14 during trading on Wednesday, hitting $51.20. 5,093 shares of the company were exchanged, compared to its average volume of 220,013. Patrick Industries has a 12-month low of $27.32 and a 12-month high of $55.87. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.31 and a current ratio of 2.61. The company has a fifty day moving average price of $48.93 and a 200-day moving average price of $44.21. The firm has a market capitalization of $1.18 billion, a PE ratio of 10.98, a P/E/G ratio of 1.93 and a beta of 2.14.

Patrick Industries (NASDAQ:PATK) last announced its quarterly earnings data on Thursday, October 24th. The construction company reported $0.92 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.04). Patrick Industries had a net margin of 4.16% and a return on equity of 20.73%. The firm had revenue of $566.19 million during the quarter, compared to analysts’ expectations of $576.97 million. During the same period in the prior year, the company posted $1.15 EPS. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. Research analysts anticipate that Patrick Industries will post 3.75 earnings per share for the current fiscal year.

The firm also recently disclosed a — dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 13th.

In other Patrick Industries news, CEO Todd M. Cleveland sold 3,222 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $52.75, for a total value of $169,960.50. Following the transaction, the chief executive officer now owns 631,951 shares of the company’s stock, valued at $33,335,415.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Todd M. Cleveland sold 10,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $48.09, for a total transaction of $480,900.00. Following the completion of the transaction, the chief executive officer now directly owns 669,053 shares in the company, valued at approximately $32,174,758.77. The disclosure for this sale can be found here. Insiders have sold a total of 112,371 shares of company stock valued at $5,631,643 over the last three months. Corporate insiders own 7.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in PATK. Tower Research Capital LLC TRC lifted its holdings in shares of Patrick Industries by 554.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 916 shares of the construction company’s stock worth $39,000 after acquiring an additional 776 shares during the last quarter. Private Capital Group LLC purchased a new stake in Patrick Industries in the second quarter valued at approximately $56,000. Russell Investments Group Ltd. acquired a new position in Patrick Industries during the third quarter worth $110,000. Tyers Asset Management LLC lifted its stake in Patrick Industries by 20.4% during the second quarter. Tyers Asset Management LLC now owns 2,736 shares of the construction company’s stock worth $135,000 after purchasing an additional 464 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in 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 purchasing an additional 1,791 shares in the last quarter. 89.25% of the stock is currently owned by institutional investors and hedge funds.

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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