MKM Partners Maintains Buy Rating for Patrick Industries: Here's What You Need To Know

MKM Partners has decided to maintain its Buy rating of Patrick Industries PATK and lower its price target from $86.00 to $66.00.

Shares of Patrick Industries are trading down 1.53% over the last 24 hours, at $43.17 per share.

A move to $66.00 would account for a 52.88% increase from the current share price.

About Patrick Industries

Patrick Industries Inc makes and sells building products and materials for recreational vehicles and manufactured housing. The company is organized into two segments based on product type: manufacturing and distribution. The manufacturing segment, which generates the majority of revenue, sells laminated and vinyl products that include furniture, shelving, cabinets, bath fixtures, and countertops. The distribution segment sells prefinished wall and ceiling panels, as well as electrical and plumbing products for the RV and manufactured-housing industries. One of the firm's RV customers makes up a significant portion of revenue. Nearly all of Patrick Industries' revenue comes from North America.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.