Could Patrick Industries (NASDAQ:PATK) Skyrocket? The Stock Had Too Little Sellers

Esequiel Farfan
Diciembre 18, 2017

Parkside Comml Bank, a Missouri-based fund reported 6 shares. 99,426 were accumulated by Tygh Cap Mgmt Inc. It has outperformed by 11.99% the S&P500.

Prudential has 0.01% invested in Patrick Industries, Inc. Its down 2.86% from 591,700 shares, reported previously. The stock has a market cap of $1,670.00, a P/E ratio of 22.72, a P/E/G ratio of 1.89 and a beta of 0.99.

The stock increased 2.08% or $1.35 during the last trading session, reaching $66.2. About 391,828 shares traded or 206.17% up from the average.

Patrick Industries (NASDAQ:PATK) last released its quarterly earnings data on Thursday, October 26th.

Investors sentiment increased to 0.99 in 2017 Q2. Barclays Public Limited Company holds 3,872 shares or 0% of its portfolio.

News articles about Patrick Industries (NASDAQ:PATK) have been trending somewhat positive recently, Accern reports. Advisory Services Ltd Liability Co owns 57 shares. Sg Americas Securities Ltd Liability Corporation holds 7,347 shares. Following the completion of the sale, the director now owns 25,237 shares of the company's stock, valued at $2,464,140.68. (NASDAQ:PATK) to report earnings on February, 15. (NASDAQ:SAVE). 7,891 were accumulated by Highbridge Capital Mngmt Limited Liability. Exane Derivatives owns 1 shares or 0% of their U.S. portfolio. Quantitative Systematic Strategies Ltd Liability stated it has 0.64% in Spirit Airlines, Inc. (NASDAQ:PATK). Glenmede Tru Na invested in 0% or 3,925 shares. It also increased its holding in Credicorp Ltd (NYSE:BAP) by 6,075 shares in the quarter, for a total of 89,350 shares, and has risen its stake in Eplus Inc (NASDAQ:PLUS). (NASDAQ:PATK) earned "Buy" rating by Bank of America on Tuesday, October 24. Therefore 29% are positive. Patrick Industries had 7 analyst reports since March 31, 2016 according to SRatingsIntel. J.P. Morgan upgraded Spirit Airlines, Inc. The firm has "Buy" rating given on Wednesday, August 30 by Robert W. Baird. The company was downgraded on Monday, October 26 by Wolfe Research. The firm has "Buy" rating given on Thursday, June 16 by Sidoti. As per Friday, July 28, the company rating was upgraded by Citigroup.

Analysts await Spirit Airlines, Inc. After $0.94 actual EPS reported by Spirit Airlines, Inc. for the previous quarter, Wall Street now forecasts -47.87% negative EPS growth.

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Investors sentiment decreased to 1.27 in Q2 2017. Patrick Industries, Inc. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.23 and a quick ratio of 1.00.

COPYRIGHT VIOLATION WARNING: "RK Capital Management LLC Sells 80,167 Shares of Patrick Industries, Inc". 33 funds opened positions while 67 raised stakes. Ftb Advsrs Inc holds 0% or 456 shares in its portfolio.

A number of equities research analysts have weighed in on PATK shares. See Patrick Industries, Inc.

Arizona State Retirement Systems has invested 0.01% in Patrick Industries, Inc. (NASDAQ PATK) traded up $1.35 during trading hours on Friday, hitting $66.20. Alliancebernstein LP holds 18,550 shares or 0% of its portfolio. Alps reported 0% stake. Farmers Merchants Invs holds 0% or 93 shares in its portfolio. Patrick Industries, Inc. (NASDAQ:PATK) has risen 37.12% since December 17, 2016 and is uptrending. (NASDAQ:PATK) for 14,846 shares. 33,000 are held by California Employees Retirement Systems. Parametric Port Associates Lc has 17,868 shares for 0% of their portfolio. The Ontario - Canada-based Bank & Trust Of Montreal Can has invested 0% in Patrick Industries, Inc. Zacks Investment Research raised shares of Patrick Industries from a "hold" rating to a "buy" rating and set a $62.67 target price on the stock in a research note on Friday, September 29th. Qs Limited Liability Com holds 0.03% of its portfolio in Patrick Industries, Inc. Aperio Group LLC now owns 3,064 shares of the construction company's stock valued at $223,000 after purchasing an additional 85 shares during the period. Wells Fargo & Company reissued a "market perform" rating and issued a $66.00 price target (down from $90.00) on shares of Patrick Industries in a report on Thursday. Shares for $585,050 were sold by NEMETH ANDY L on Wednesday, September 27. GENDELL JEFFREY L ET AL also sold $2.23M worth of Patrick Industries, Inc. (NASDAQ:PATK) or 3,000 shares. $770,000 worth of stock was sold by HASSLER PAUL E on Monday, September 18. Another trade for 520 shares valued at $37,960 was sold by Boone Joshua A. WELLS WALTER E sold $216,354 worth of Patrick Industries, Inc. With 98,200 shares average volume, it will take short sellers 6 days to cover their PATK's short positions. Can increased its holdings in shares of Patrick Industries by 3.4% in the 2nd quarter.

A number of brokerages recently commented on PATK. They expect $1.06 EPS, up 19.10 % or $0.17 from last year's $0.89 per share. PATK's profit will be $26.74 million for 15.61 P/E if the $1.06 EPS becomes a reality. Finally, NJ State Employees Deferred Compensation Plan purchased a new stake in Patrick Industries during the second quarter valued at $437,000.

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