Patrick Industries (PATK) Given News Sentiment Rating of 0.18
News stories about Patrick Industries (NASDAQ:PATK) have been trending somewhat positive this week, according to Accern Sentiment. Accern rates the sentiment of media coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Patrick Industries earned a news impact score of 0.18 on Accern’s scale. Accern also gave media coverage about the construction company an impact score of 44.5181908757002 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Here are some of the media headlines that may have effected Accern’s rankings:
- Patrick Industries, Inc. (PATK) Receives Average Recommendation of “Buy” from Analysts (americanbankingnews.com)
- Market Focus: Share Update for Patrick Industries, Inc. (NASDAQ:PATK) – Clawson News (clawsonnews.com)
- Patrick Industries, Inc. (PATK) Reaches $67.05 After 3.00% Down Move; Tecogen Has 1.75 Sentiment – Hill Country Times (hillcountrytimes.com)
- NCI Building Up 22% in 3 Months: What’s Driving the Stock? (finance.yahoo.com)
Patrick Industries (NASDAQ:PATK) opened at $66.60 on Tuesday. The stock has a market cap of $1,715.83, a PE ratio of 22.86, a price-to-earnings-growth ratio of 1.64 and a beta of 0.98. The company has a quick ratio of 1.00, a current ratio of 2.23 and a debt-to-equity ratio of 0.72. Patrick Industries has a 1-year low of $40.07 and a 1-year high of $71.13.
PATK has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Patrick Industries from a “buy” rating to a “hold” rating in a report on Friday, September 15th. Robert W. Baird restated a “buy” rating on shares of Patrick Industries in a 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 report on Tuesday, October 24th. ValuEngine upgraded shares of Patrick Industries from a “hold” rating to a “buy” rating in a report on Monday, December 11th. Finally, Wells Fargo & Co restated a “market perform” rating and issued a $66.00 target price (down from $90.00) on shares of Patrick Industries in a report on Thursday, December 14th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Patrick Industries has a consensus rating of “Buy” and an average price target of $68.80.
In other news, EVP Jeff Rodino sold 3,511 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $102.22, for a total transaction of $358,894.42. Following the transaction, the executive vice president now directly owns 75,315 shares in the company, valued at approximately $7,698,699.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John A. Forbes sold 1,000 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $65.80, for a total transaction of $65,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,234 shares of company stock worth $5,623,018. 5.20% of the stock is owned by insiders.
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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.
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