Patrick Industries, Inc. (NASDAQ:PATK) Director John A. Forbes sold 1,000 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $65.80, for a total value of $65,800.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shares of Patrick Industries, Inc. (PATK) traded up $1.35 on Friday, hitting $66.20. The stock had a trading volume of 351,583 shares, compared to its average volume of 128,142. The company has a market cap of $1,636.35, a P/E ratio of 22.26, a PEG ratio of 1.85 and a beta of 0.99. The company has a current ratio of 2.23, a quick ratio of 1.00 and a debt-to-equity ratio of 0.72. Patrick Industries, Inc. has a 12-month low of $40.07 and a 12-month high of $68.63.

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, beating the Zacks’ consensus estimate of $0.62 by $0.10. The firm had revenue of $407.50 million during the quarter, compared to the consensus estimate of $371.98 million. Patrick Industries had a return on equity of 24.60% and a net margin of 4.73%. The company’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same quarter last year, the company posted $0.53 EPS. equities research analysts expect that Patrick Industries, Inc. will post 3.05 EPS for the current year.

Several equities research analysts recently weighed in on PATK shares. Zacks Investment Research lowered Patrick Industries from a “buy” rating to a “hold” rating in a report on Friday, August 25th. ValuEngine raised Patrick Industries from a “hold” rating to a “buy” rating in a report on Monday, December 11th. Bank of America lifted their price objective on Patrick Industries from $56.67 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, October 24th. Finally, Wells Fargo & Company reissued a “market perform” rating and issued a $66.00 price objective (down previously from $90.00) on shares of Patrick Industries in a report on Thursday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $64.27.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP raised its holdings in shares of Patrick Industries by 13.7% during the 3rd quarter. GSA Capital Partners LLP now owns 20,980 shares of the construction company’s stock valued at $1,764,000 after buying an additional 2,530 shares in the last quarter. Algert Global LLC increased its stake in Patrick Industries by 26.3% in the 3rd quarter. Algert Global LLC now owns 35,155 shares of the construction company’s stock worth $2,957,000 after purchasing an additional 7,329 shares during the period. California Public Employees Retirement System increased its stake in Patrick Industries by 3.3% in the 3rd quarter. California Public Employees Retirement System now owns 34,103 shares of the construction company’s stock worth $2,868,000 after purchasing an additional 1,103 shares during the period. Stifel Financial Corp increased its stake in Patrick Industries by 6.8% in the 3rd quarter. Stifel Financial Corp now owns 228,182 shares of the construction company’s stock worth $19,189,000 after purchasing an additional 14,565 shares during the period. Finally, OxFORD Asset Management LLP increased its stake in Patrick Industries by 199.6% in the 3rd quarter. OxFORD Asset Management LLP now owns 36,504 shares of the construction company’s stock worth $3,063,000 after purchasing an additional 24,318 shares during the period. 89.33% of the stock is currently owned by institutional investors.

WARNING: “Patrick Industries, Inc. (PATK) Director John A. Forbes Sells 1,000 Shares of Stock” was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece of content on another site, it was copied illegally and republished in violation of U.S. and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/12/16/patrick-industries-inc-patk-director-john-a-forbes-sells-1000-shares-of-stock.html.

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)

Receive News & Stock Ratings for Patrick Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patrick Industries and related stocks with our FREE daily email newsletter.