In the last three months, 5 analysts have published ratings on Patrick Industries PATK, offering a diverse range of perspectives 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 | 2 | 0 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 1 | 1 | 0 | 0 | 0 |
| 2M Ago | 1 | 0 | 0 | 0 | 0 |
| 3M Ago | 0 | 1 | 0 | 0 | 0 |
The 12-month price targets, analyzed by analysts, offer insights with an average target of $112.2, a high estimate of $125.00, and a low estimate of $101.00. This current average reflects an increase of 17.8% from the previous average price target of $95.25.
Decoding Analyst Ratings: A Detailed Look
The standing of Patrick Industries among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below 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 |
|---|---|---|---|---|---|
| David Weiss | Roth MKM | Raises | Buy | $120.00 | $101.00 |
| Scott Stember | Roth MKM | Raises | Buy | $101.00 | $90.00 |
| Brett Andress | Keybanc | Raises | Overweight | $110.00 | $95.00 |
| Michael Swartz | Truist Securities | Raises | Buy | $125.00 | $95.00 |
| Tristan Thomas-Martin | BMO Capital | Announces | Outperform | $105.00 | - |
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: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey 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.
To gain a panoramic view of Patrick Industries's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
Stay up to date on Patrick Industries analyst ratings.
Delving into Patrick Industries's Background
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.
Financial Insights: Patrick Industries
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.
Negative Revenue Trend: Examining Patrick Industries's financials over 3 months reveals challenges. As of 30 September, 2023, the company experienced a decline of approximately -22.12% in revenue growth, reflecting a decrease in top-line earnings. When compared to others in the Consumer Discretionary sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Patrick Industries's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of 4.57%, the company may face hurdles in effective cost management.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 3.9%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of 1.47%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 1.25.
How Are Analyst Ratings Determined?
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
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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