Across the recent three months, 7 analysts have shared their insights on Patrick Industries PATK, expressing a variety of opinions spanning from bullish to bearish.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 3 | 3 | 1 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 1 | 0 | 0 | 0 | 0 |
| 2M Ago | 1 | 3 | 1 | 0 | 0 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $136.0, with a high estimate of $150.00 and a low estimate of $114.00. This upward trend is evident, with the current average reflecting a 8.37% increase from the previous average price target of $125.50.
Deciphering Analyst Ratings: An In-Depth Analysis
The perception of Patrick Industries by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Michael Albanese | Benchmark | Maintains | Buy | $145.00 | $145.00 |
| Michael Albanese | Benchmark | Announces | Buy | $145.00 | - |
| Brandon Rolle | DA Davidson | Raises | Neutral | $114.00 | $108.00 |
| Tristan Thomas-Martin | BMO Capital | Raises | Outperform | $135.00 | $125.00 |
| Brett Andress | Keybanc | Raises | Overweight | $135.00 | $125.00 |
| Craig Kennison | Baird | Raises | Outperform | $128.00 | $120.00 |
| Michael Swartz | Truist Securities | Raises | Buy | $150.00 | $130.00 |
Key Insights:
- Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Patrick Industries. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Patrick Industries compared to the broader market.
- Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Patrick Industries's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Patrick Industries's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
Stay up to date on Patrick Industries analyst ratings.
Discovering Patrick Industries: A Closer Look
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 portion of revenue.
Patrick Industries: Financial Performance Dissected
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Patrick Industries's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 10.42%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Consumer Discretionary sector.
Net Margin: Patrick Industries's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of 4.71%, the company may face hurdles in effective cost management.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 4.44%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Patrick Industries's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of 1.59%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: With a high debt-to-equity ratio of 1.38, Patrick Industries faces challenges in effectively managing its debt levels, indicating potential financial strain.
What Are Analyst Ratings?
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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