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Shares of Patrick Industries, Inc. (NASDAQ:PATK - Get Rating) have been given a consensus recommendation of "Hold" by the seven ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $72.20.

A number of research firms recently commented on PATK. KeyCorp lifted their price objective on Patrick Industries from $65.00 to $68.00 and gave the stock an "overweight" rating in a research report on Monday, August 1st. TheStreet downgraded shares of Patrick Industries from a "b-" rating to a "c+" rating in a research note on Thursday, July 14th. Truist Financial dropped their price objective on shares of Patrick Industries to $75.00 in a research note on Thursday, May 26th. StockNews.com downgraded shares of Patrick Industries from a "buy" rating to a "hold" rating in a research note on Tuesday, May 31st. Finally, DA Davidson started coverage on Patrick Industries in a report on Friday, August 26th. They set a "neutral" rating and a $65.00 target price for the company.Patrick Industries Trading Down 3.4 %

Shares of PATK stock opened at $48.83 on Friday. Patrick Industries has a fifty-two week low of $48.26 and a fifty-two week high of $88.79. The stock has a market cap of $1.12 billion, a P/E ratio of 3.39, a P/E/G ratio of 0.44 and a beta of 1.95. The business has a fifty day simple moving average of $56.98 and a 200-day simple moving average of $59.98. The company has a quick ratio of 1.02, a current ratio of 2.58 and a debt-to-equity ratio of 1.64.

Patrick Industries (NASDAQ:PATK - Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The construction company reported $5.31 earnings per share for the quarter, beating analysts' consensus estimates of $3.42 by $1.89. Patrick Industries had a return on equity of 45.44% and a net margin of 6.92%. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.23 billion. On average, analysts forecast that Patrick Industries will post 13.59 earnings per share for the current fiscal year. Patrick Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Monday, August 29th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Friday, August 26th. Patrick Industries's dividend payout ratio is presently 9.17%. Insiders Place Their Bets

In other Patrick Industries news, Chairman Todd M. Cleveland sold 20,000 shares of the company's stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $63.42, for a total value of $1,268,400.00. Following the completion of the transaction, the chairman now owns 131,737 shares in the company, valued at approximately $8,354,760.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.10% of the stock is owned by company insiders. Hedge Funds Weigh In On Patrick Industries

A number of institutional investors have recently made changes to their positions in PATK. ProShare Advisors LLC raised its position in shares of Patrick Industries by 62.4% in the 4th quarter. ProShare Advisors LLC now owns 5,670 shares of the construction company's stock valued at $458,000 after purchasing an additional 2,178 shares in the last quarter. UMB Bank N A MO acquired a new position in shares of Patrick Industries in the 4th quarter valued at approximately $28,000. First Horizon Advisors Inc. raised its position in shares of Patrick Industries by 462.3% in the 4th quarter. First Horizon Advisors Inc. now owns 731 shares of the construction company's stock valued at $58,000 after purchasing an additional 601 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Patrick Industries by 14.7% during the 4th quarter. HighTower Advisors LLC now owns 3,513 shares of the construction company's stock valued at $285,000 after acquiring an additional 450 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of Patrick Industries by 545.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 15,500 shares of the construction company's stock valued at $1,236,000 after acquiring an additional 13,100 shares in the last quarter. 89.86% of the stock is owned by institutional investors and hedge funds. Patrick Industries Company Profile (Get Rating)

Patrick Industries, Inc manufactures and distributes components, building products, and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States, China, and Canada. Its Manufacturing segment manufactures and sells furniture, shelving, wall, countertop, and cabinet product; cabinet door, fiberglass bath fixture, and tile system; hardwood furniture, vinyl printing, amplifiers, tower speakers, soundbars, and subwoofers; solid surface, granite, and quartz countertop fabrication; aluminum product; fiberglass and plastic components; RV painting; decorative vinyl and paper laminated panels; softwoods lumber; custom cabinet; polymer-based flooring product; dash panels; and other products.Further ReadingGet a free copy of the StockNews.com research report on Patrick Industries (PATK)Oil and Gas Stocks: A Safe Way to Invest in Renewable EnergyAre These Green Energy Companies Right For Your Portfolio?When Will the Hangover Finally Be Over for Seagate Technology?Does Enphase Energy Have the Juice to Keep Powering Higher? The One Hydrogen Fuel Cell Stock To Rule Them All 

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