Headlines about Patrick Industries (NASDAQ:PATK) have been trending somewhat positive this week, according to Accern Sentiment. The research firm identifies negative and positive media coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Patrick Industries earned a daily sentiment score of 0.19 on Accern’s scale. Accern also gave news coverage about the construction company an impact score of 44.5292963759836 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.

Shares of Patrick Industries (NASDAQ PATK) traded down $0.30 on Friday, hitting $69.45. 151,959 shares of the stock traded hands, compared to its average volume of 142,906. The firm has a market capitalization of $1,750.00, a PE ratio of 23.46, a PEG ratio of 1.99 and a beta of 0.99. Patrick Industries has a 1-year low of $40.07 and a 1-year high of $70.40. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.23 and a quick ratio of 1.00.

Patrick Industries (NASDAQ:PATK) last issued its quarterly earnings results on Thursday, October 26th. The construction company reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.10. The business had revenue of $407.50 million for the quarter, compared to analysts’ expectations of $371.98 million. Patrick Industries had a net margin of 4.73% and a return on equity of 24.60%. The business’s quarterly revenue was up 34.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 earnings per share. equities research analysts forecast that Patrick Industries will post 3.05 EPS for the current year.

PATK has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Patrick Industries from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. Robert W. Baird reaffirmed a “buy” rating on shares of Patrick Industries in a research report on Thursday, October 12th. Bank of America upped their target price on shares of Patrick Industries from $56.67 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, October 24th. ValuEngine raised shares of Patrick Industries from a “hold” rating to a “buy” rating in a research report on Monday, December 11th. Finally, Wells Fargo & Co reaffirmed a “market perform” rating and issued a $66.00 target price (down previously from $90.00) on shares of Patrick Industries in a research report on Thursday, December 14th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $68.80.

In other news, President Andy L. Nemeth sold 3,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $85.22, for a total transaction of $255,660.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Courtney Blosser sold 6,000 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $101.28, for a total transaction of $607,680.00. Following the sale, the insider now directly owns 28,214 shares in the company, valued at approximately $2,857,513.92. The disclosure for this sale can be found here. Insiders have sold 122,976 shares of company stock worth $10,997,459 in the last three months. Corporate insiders own 5.20% of the company’s stock.

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About Patrick Industries

Patrick Industries, Inc is a manufacturer of component products and distributor of building products and materials for the recreational vehicle (RV) and manufactured housing (MH) industrial markets for customers throughout the United States and Canada. In addition, it is a supplier to certain other industrial markets, such as kitchen cabinet, office and household furniture, fixtures and commercial furnishings, marine, and other industrial markets.

Insider Buying and Selling by Quarter for Patrick Industries (NASDAQ:PATK)

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