During the last three months, 10 analysts shared their evaluations of Patrick Industries PATK, revealing diverse outlooks from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 4 | 5 | 1 | 0 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 0 | 1 | 0 | 0 | 0 |
| 2M Ago | 3 | 0 | 0 | 0 | 0 |
| 3M Ago | 1 | 3 | 1 | 0 | 0 |
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $142.7, along with a high estimate of $165.00 and a low estimate of $114.00. This current average reflects an increase of 9.98% from the previous average price target of $129.75.
Deciphering Analyst Ratings: An In-Depth Analysis
In examining recent analyst actions, we gain insights into how financial experts perceive Patrick Industries. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Brett Andress | Keybanc | Raises | Overweight | $150.00 | $135.00 |
| Joseph Altobello | Raymond James | Announces | Outperform | $160.00 | - |
| Michael Swartz | Truist Securities | Raises | Buy | $165.00 | $150.00 |
| 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: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Patrick Industries. This offers insight into analysts' perspectives on 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 predict movements in price targets, offering estimates for Patrick Industries's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Patrick Industries's market standing. Stay informed and make well-considered decisions with our Ratings Table.
Stay up to date on Patrick Industries analyst ratings.
Unveiling the Story Behind 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 portion of revenue.
Financial Insights: Patrick Industries
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
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. As compared to competitors, the company surpassed expectations 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 standards, pointing towards difficulties in achieving strong profitability. With a net margin of 4.71%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Patrick Industries's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 4.44%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Patrick Industries's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of 1.59%, the company may face hurdles in achieving optimal financial returns.
Debt Management: Patrick Industries's debt-to-equity ratio is notably higher than the industry average. With a ratio of 1.38, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
The Core of Analyst Ratings: What Every Investor Should Know
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
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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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