Patrick Industries (PATK) is Upgraded by CL King to Buy

Patrick Industries (PATK) was Upgraded by CL King to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. CL King advised their investors in a research report released on Aug 17, 2016.

Many Wall Street Analysts have commented on Patrick Industries. Patrick Industries was Initiated by Sidoti to “Buy” on Jun 16, 2016.

On the company’s financial health, Patrick Industries reported $1.10 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.99. The company had revenue of $315.20 million for the quarter, compared to analysts expectations of $292.68 million. The company’s revenue was up 35.0% compared to the same quarter last year.

Patrick Industries closed down -0.05 points or -0.08% at $61.3 with 1,11,104 shares getting traded on Monday. Post opening the session at $61.2, the shares hit an intraday low of $60.91 and an intraday high of $62.365 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Aug 5, 2016, Walter E Wells (director) sold 2,000 shares at $62.83 per share price. According to the SEC, on Jul 1, 2016, Todd M Cleveland (CEO) sold 20,000 shares at $59.41 per share price. On May 20, 2016, Andy L Nemeth (President) sold 10,118 shares at $49.19 per share price, according to the Form-4 filing with the securities and exchange commission.

Patrick Industries Inc. is a manufacturer of component products and distributor of building products and materials for the recreational vehicle and manufactured housing industries. 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. The Company operates in two segments: Manufacturing and Distribution. The Company manufactures a variety of products including decorative vinyl and paper laminated panels fabricated aluminum products wrapped vinyl paper and hardwood profile moldings solid surface granite and quartz countertops cabinet doors and components hardwood furniture fiberglass bath and shower fixtures fiberglass and plastic component products including front and rear caps and marine helms slide-out trim and fascia interior passage doors exterior graphics and RV painting and slotwall panels and components among others.

Patrick Industries

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