Latest news for Patrick Industries (NASDAQ:PATK) Stock

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.

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Patrick Industries Inc (NASDAQ: PATK) has signed a definitive agreement to acquire

Patrick Industries Seals $315M Deal For Sportech, Aiming High In Powersports And Aftermarket Sectors

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Patrick Industries Boosts Buyback Approval To $100M

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Patrick Industries Expands Credit Facility To $925M

Patrick Industries Inc

<p>Truist Securities  analyst Michael Swartz   maintains Patrick Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PATK#NASDAQ">PATK</a>) with a Buy and raises the price target from $150 to $165.</p>


Price Target

Analyst Ratings

Truist Securities Maintains Buy on Patrick Industries, Raises Price Target to $165

<p>Across the recent three months, 7 analysts have shared their insights on Patrick Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PATK#NASDAQ">PATK</a>), expressing a variety of opinions spanning from bullish to bearish.</p>
<p>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.</p>
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;"><strong>Bullish</strong></th>
<th style="text-align: right;"><strong>Somewhat Bullish</strong></th>
<th style="text-align: right;"><strong>Indifferent</strong></th>
<th style="text-align: right;"><strong>Somewhat Bearish</strong></th>
<th style="text-align: right;"><strong>Bearish</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Total Ratings</strong></td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>Last 30D</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>1M Ago</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>2M Ago</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>3M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
<p>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.</p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1726581635_0.png" alt="price target chart" /></p>
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
<p>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.</p>
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Michael Albanese</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$145.00</td>
<td>$145.00</td>
</tr>
<tr>
<td>Michael Albanese</td>
<td>Benchmark</td>
<td>Announces</td>
<td>Buy</td>
<td>$145.00</td>
<td>-</td>
</tr>
<tr>
<td>Brandon Rolle</td>
<td>DA Davidson</td>
<td>Raises</td>
<td>Neutral</td>
<td>$114.00</td>
<td>$108.00</td>
</tr>
<tr>
<td>Tristan Thomas-Martin</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$135.00</td>
<td>$125.00</td>
</tr>
<tr>
<td>Brett Andress</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$135.00</td>
<td>$125.00</td>
</tr>
<tr>
<td>Craig Kennison</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$128.00</td>
<td>$120.00</td>
</tr>
<tr>
<td>Michael Swartz</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$150.00</td>
<td>$130.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li><strong>Action Taken:</strong> 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.</li>
<li><strong>Rating:</strong> 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.</li>
<li><strong>Price Targets:</strong> 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.</li>
</ul>
<p>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.</p>
<p><a href="https://www.benzinga.com/quote/PATK/analyst-ratings?utm_source=Benzinga Insights"><strong>Stay up to date on Patrick Industries analyst ratings.</strong></a></p>
<h2>Discovering Patrick Industries: A Closer Look</h2>
<p>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.</p>
<h3>Patrick Industries: Financial Performance Dissected</h3>
<p><strong>Market Capitalization Analysis:</strong> 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.</p>
<p><strong>Revenue Growth:</strong> Patrick Industries's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of <strong>10.42%</strong>. 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.</p>
<p><strong>Net Margin:</strong> Patrick Industries's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of <strong>4.71%,</strong> the company may face hurdles in effective cost management.</p>
<p><strong>Return on Equity (ROE):</strong> The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of <strong>4.44%,</strong> the company showcases effective utilization of equity capital.</p>
<p><strong>Return on Assets (ROA):</strong> Patrick Industries's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of <strong>1.59%,</strong> the company may encounter challenges in delivering satisfactory returns from its assets.</p>
<p><strong>Debt Management:</strong> With a high debt-to-equity ratio of <strong>1.38</strong>, Patrick Industries faces challenges in effectively managing its debt levels, indicating potential financial strain.</p>
<h2>What Are Analyst Ratings?</h2>
<p>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.</p>
<p>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.</p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


Decoding 7 Analyst Evaluations For Patrick Industries

<p>Benchmark  analyst Michael Albanese   reiterates Patrick Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PATK#NASDAQ">PATK</a>) with a Buy and maintains $145 price target.</p>


Reiteration

Benchmark Reiterates Buy on Patrick Industries, Maintains $145 Price Target

<p>6 analysts have expressed a variety of opinions on Patrick Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PATK#NASDAQ">PATK</a>) over the past quarter, offering a diverse set of opinions from bullish to bearish.</p>
<p>The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.</p>
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;"><strong>Bullish</strong></th>
<th style="text-align: right;"><strong>Somewhat Bullish</strong></th>
<th style="text-align: right;"><strong>Indifferent</strong></th>
<th style="text-align: right;"><strong>Somewhat Bearish</strong></th>
<th style="text-align: right;"><strong>Bearish</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Total Ratings</strong></td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>Last 30D</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>1M Ago</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>2M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>3M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
<p>Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $134.5, a high estimate of $150.00, and a low estimate of $114.00. This current average reflects an increase of 10.61% from the previous average price target of $121.60. </p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1724943629_0.png" alt="price target chart" /></p>
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
<p>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.</p>
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Michael Albanese</td>
<td>Benchmark</td>
<td>Announces</td>
<td>Buy</td>
<td>$145.00</td>
<td>-</td>
</tr>
<tr>
<td>Brandon Rolle</td>
<td>DA Davidson</td>
<td>Raises</td>
<td>Neutral</td>
<td>$114.00</td>
<td>$108.00</td>
</tr>
<tr>
<td>Tristan Thomas-Martin</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$135.00</td>
<td>$125.00</td>
</tr>
<tr>
<td>Brett Andress</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$135.00</td>
<td>$125.00</td>
</tr>
<tr>
<td>Craig Kennison</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$128.00</td>
<td>$120.00</td>
</tr>
<tr>
<td>Michael Swartz</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$150.00</td>
<td>$130.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li><strong>Action Taken:</strong> In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Patrick Industries. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li><strong>Rating:</strong> Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Patrick Industries compared to the broader market.</li>
<li><strong>Price Targets:</strong> Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
<p>Capture valuable insights into Patrick Industries's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.</p>
<p><a href="https://www.benzinga.com/quote/PATK/analyst-ratings?utm_source=Benzinga Insights"><strong>Stay up to date on Patrick Industries analyst ratings.</strong></a></p>
<h2>Delving into Patrick Industries's Background</h2>
<p>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.</p>
<h3>Patrick Industries: Delving into Financials</h3>
<p><strong>Market Capitalization:</strong> With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.</p>
<p><strong>Revenue Growth:</strong> Patrick Industries displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately <strong>10.42%</strong>. This indicates a notable increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Consumer Discretionary sector.</p>
<p><strong>Net Margin:</strong> Patrick Industries's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of <strong>4.71%,</strong> the company may face hurdles in effective cost management.</p>
<p><strong>Return on Equity (ROE):</strong> Patrick Industries's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of <strong>4.44%,</strong> the company showcases efficient use of equity capital and strong financial health.</p>
<p><strong>Return on Assets (ROA):</strong> The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of <strong>1.59%,</strong> the company may need to address challenges in generating satisfactory returns from its assets.</p>
<p><strong>Debt Management:</strong> Patrick Industries's debt-to-equity ratio is notably higher than the industry average. With a ratio of <b>1.38</b>, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.</p>
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
<p>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. </p>
<p>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.</p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


Deep Dive Into Patrick Industries Stock: Analyst Perspectives (6 Ratings)

<p>Benchmark  analyst Michael Albanese   initiates coverage on Patrick Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PATK#NASDAQ">PATK</a>) with a Buy rating and announces Price Target of $145.</p>


Initiation

Benchmark Initiates Coverage On Patrick Industries with Buy Rating, Announces Price Target of $145

<p>DA Davidson  analyst Brandon Rolle   maintains Patrick Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PATK#NASDAQ">PATK</a>) with a Neutral and raises the price target from $108 to $114.</p>


DA Davidson Maintains Neutral on Patrick Industries, Raises Price Target to $114

<p>Patrick Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PATK#NASDAQ">PATK</a>) has outperformed the market over the past 5 years by 9.7% on an annualized basis producing an average annual return of 22.82%. Currently, Patrick Industries has a market capitalization of $2.73 billion. </p>
<p><strong>Buying $100 In PATK:</strong> If an investor had bought $100 of PATK stock 5 years ago, it would be worth <strong>$285.72</strong> today based on a price of $121.86 for PATK at the time of writing.</p>
<h3>Patrick Industries's Performance Over Last 5 Years</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1722630625_0.png" alt="comp_fig" /></p>
<p>Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.</p>
<p><em>This article was generated by Benzinga's automated content engine and reviewed by an editor.</em></p>


Here's How Much You Would Have Made Owning Patrick Industries Stock In The Last 5 Years

<p>BMO Capital  analyst Tristan Thomas-Martin   maintains Patrick Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PATK#NASDAQ">PATK</a>) with a Outperform and raises the price target from $125 to $135.</p>


BMO Capital Maintains Outperform on Patrick Industries, Raises Price Target to $135

<p>Keybanc  analyst Brett Andress   maintains Patrick Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PATK#NASDAQ">PATK</a>) with a Overweight and raises the price target from $125 to $135.</p>


Keybanc Maintains Overweight on Patrick Industries, Raises Price Target to $135

<p>Baird  analyst Craig Kennison   maintains Patrick Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PATK#NASDAQ">PATK</a>) with a Outperform and raises the price target from $120 to $128.</p>


Baird Maintains Outperform on Patrick Industries, Raises Price Target to $128

<p>Truist Securities  analyst Michael Swartz   maintains Patrick Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PATK#NASDAQ">PATK</a>) with a Buy and raises the price target from $130 to $150.</p>


Truist Securities Maintains Buy on Patrick Industries, Raises Price Target to $150

<p>Patrick Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PATK#NASDAQ">PATK</a>) reported quarterly earnings of $2.16 per share which beat the analyst consensus estimate of $2.06 by 4.85 percent. This is a 11.34 percent increase over earnings of $1.94 per share from the same period last year. The company reported quarterly sales of $1.02 billion which beat the analyst consensus estimate of $975.03 million by 4.30 percent. This is a 10.46 percent increase over sales of $920.68 million the same period last year.</p>


Earnings

Patrick Industries Q2 Adj $2.16 Beats $2.06 Estimate, Sales $1.02B Beat $975.03M Estimate

<p>Patrick Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PATK#NASDAQ">PATK</a>) has outperformed the market over the past 10 years by 8.46% on an annualized basis producing an average annual return of 19.24%. Currently, Patrick Industries has a market capitalization of $2.66 billion. </p>
<p><strong>Buying $100 In PATK:</strong> If an investor had bought $100 of PATK stock 10 years ago, it would be worth <strong>$578.55</strong> today based on a price of $118.80 for PATK at the time of writing.</p>
<h3>Patrick Industries's Performance Over Last 10 Years</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1721397618_0.png" alt="comp_fig" /></p>
<p>Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.</p>
<p><em>This article was generated by Benzinga's automated content engine and reviewed by an editor.</em></p>


$100 Invested In Patrick Industries 10 Years Ago Would Be Worth This Much Today

<p>Patrick Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PATK#NASDAQ">PATK</a>) has outperformed the market over the past 10 years by 8.78% on an annualized basis producing an average annual return of 19.77%. Currently, Patrick Industries has a market capitalization of $2.66 billion. </p>
<p><strong>Buying $1000 In PATK:</strong> If an investor had bought $1000 of PATK stock 10 years ago, it would be worth <strong>$6,199.18</strong> today based on a price of $118.95 for PATK at the time of writing.</p>
<h3>Patrick Industries's Performance Over Last 10 Years</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1721140245_0.png" alt="comp_fig" /></p>
<p>Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.</p>
<p><em>This article was generated by Benzinga's automated content engine and reviewed by an editor.</em></p>


Here's How Much $1000 Invested In Patrick Industries 10 Years Ago Would Be Worth Today

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Shares of companies within the broader consumer discretionary sector are trading higher following recent CPI data.

<p><strong>Patrick Industries's</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PATK#NYSE">PATK</a>) short percent of float has risen 12.0% since its last report. The company recently reported that it has <strong>1.48 million shares sold short</strong>, which is 8.4% of all regular shares that are available for trading. Based on its trading volume, <strong>it would take traders 15.0 days to cover their short positions on average.</strong></p>
<h3>Why Short Interest Matters</h3>
<p>Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.</p>
<p>Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.</p>
<p><strong>See Also:</strong> <a href="https://www.benzinga.com/short-interest"><strong>List of the most shorted stocks</strong></a></p>
<h3>Patrick Industries Short Interest Graph (3 Months)</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1718910021_0.png" alt="short_fig" /></p>
<p>As you can see from the chart above the percentage of shares that are sold short for Patrick Industries has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.</p>
<h3>Comparing Patrick Industries's Short Interest Against Its Peers</h3>
<p>Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.</p>
<p>According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Patrick Industries's peer group average for short interest as a percentage of float is 7.05%, which means the company has <strong>more</strong> short interest than most of its peers.</p>
<p>Did you know that increasing short interest can actually be <strong>bullish</strong> for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/"><strong>This post by Benzinga Money explains how you can profit from it.</strong></a></p>
<p><em>This article was generated by Benzinga's automated content engine and was reviewed by an editor.</em></p>


Short Sellers

Short Ideas

How Is The Market Feeling About Patrick Industries?

<p>Patrick Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PATK#NASDAQ">PATK</a>) has outperformed the market over the past 5 years by 4.78% on an annualized basis producing an average annual return of 18.09%. Currently, Patrick Industries has a market capitalization of $2.39 billion. </p>
<p><strong>Buying $100 In PATK:</strong> If an investor had bought $100 of PATK stock 5 years ago, it would be worth <strong>$221.46</strong> today based on a price of $106.50 for PATK at the time of writing.</p>
<h3>Patrick Industries's Performance Over Last 5 Years</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1718746229_0.png" alt="comp_fig" /></p>
<p>Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.</p>
<p><em>This article was generated by Benzinga's automated content engine and reviewed by an editor.</em></p>


Here's How Much $100 Invested In Patrick Industries 5 Years Ago Would Be Worth Today

<p>Roth MKM  analyst Scott Stember   reiterates Patrick Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PATK#NASDAQ">PATK</a>) with a Buy and raises the price target from $120 to $126.</p>


Roth MKM Reiterates Buy on Patrick Industries, Raises Price Target to $126

<p>Patrick Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PATK#NASDAQ">PATK</a>) underwent analysis by 4 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.</p>
<p>The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.</p>
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;"><strong>Bullish</strong></th>
<th style="text-align: right;"><strong>Somewhat Bullish</strong></th>
<th style="text-align: right;"><strong>Indifferent</strong></th>
<th style="text-align: right;"><strong>Somewhat Bearish</strong></th>
<th style="text-align: right;"><strong>Bearish</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Total Ratings</strong></td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>Last 30D</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>1M Ago</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>2M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>3M Ago</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
<p>In the assessment of 12-month price targets, analysts unveil insights for Patrick Industries, presenting an average target of $122.5, a high estimate of $130.00, and a low estimate of $115.00. Observing a 11.03% increase, the current average has risen from the previous average price target of $110.33. </p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1714759232_0.png" alt="price target chart" /></p>
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
<p>The standing of Patrick Industries among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.</p>
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Tristan Thomas-Martin</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$125.00</td>
<td>$120.00</td>
</tr>
<tr>
<td>Michael Swartz</td>
<td>Truist Securities</td>
<td>Maintains</td>
<td>Buy</td>
<td>$130.00</td>
<td>-</td>
</tr>
<tr>
<td>Brett Andress</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$115.00</td>
<td>$110.00</td>
</tr>
<tr>
<td>Scott Stember</td>
<td>Roth MKM</td>
<td>Raises</td>
<td>Buy</td>
<td>$120.00</td>
<td>$101.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li><strong>Action Taken:</strong> Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Patrick Industries. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li><strong>Rating:</strong> Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Patrick Industries compared to the broader market.</li>
<li><strong>Price Targets:</strong> Analysts explore the dynamics of price targets, providing estimates for the future value of Patrick Industries's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
<p>Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Patrick Industries's market position. Stay informed and make well-informed decisions with our Ratings Table.</p>
<p><a href="https://www.benzinga.com/quote/PATK/analyst-ratings?utm_source=Benzinga Insights"><strong>Stay up to date on Patrick Industries analyst ratings.</strong></a></p>
<h2>All You Need to Know About Patrick Industries</h2>
<p>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.</p>
<h3>Financial Insights: Patrick Industries</h3>
<p><strong>Market Capitalization Analysis:</strong> The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.</p>
<p><strong>Decline in Revenue:</strong> Over the 3 months period, Patrick Industries faced challenges, resulting in a decline of approximately <strong>-17.94%</strong> in revenue growth as of 31 December, 2023. This signifies a reduction in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Consumer Discretionary sector.</p>
<p><strong>Net Margin:</strong> The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of <strong>3.94%,</strong> the company may need to address challenges in effective cost control.</p>
<p><strong>Return on Equity (ROE):</strong> The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of <strong>2.97%,</strong> the company showcases effective utilization of equity capital.</p>
<p><strong>Return on Assets (ROA):</strong> Patrick Industries's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of <strong>1.18%,</strong> the company may face hurdles in achieving optimal financial returns.</p>
<p><strong>Debt Management:</strong> The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of <strong>1.15</strong>, caution is advised due to increased financial risk.</p>
<h2>Analyst Ratings: Simplified</h2>
<p>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.</p>
<p>In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.</p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


In-Depth Examination Of 4 Analyst Recommendations For Patrick Industries

<p>BMO Capital  analyst Tristan Thomas-Martin   maintains Patrick Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PATK#NASDAQ">PATK</a>) with a Outperform and raises the price target from $120 to $125.</p>


BMO Capital Maintains Outperform on Patrick Industries, Raises Price Target to $125

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Press Releases

Rockford Fosgate® To Be On-site as the "Official Motorcycle Audio Sponsor" of the 84th annual Sturgis® Motorcycle Rally™

Patrick Industries to Participate in Upcoming CJS Conference

Introducing the New Harley-Davidson® Audio Powered by Rockford Fosgate® 2024 Subwoofer System

Patrick Industries, Inc. Announces Second Quarter 2024 Earnings Release and Conference Call Webcast on August 1, 2024

Patrick Industries, Inc. Reports Second Quarter 2024 Financial Results

2025 Polaris RZR Pro R / Pro S / Pro XP Ultimate Now Equipped with Stage-4 High Output 800-Watt Audio System

Patrick Industries, Inc. Declares Quarterly Cash Dividend

ROCKFORD FOSGATE ANNOUNCES LEADERSHIP TRANSITION: BILL JACKSON TO BECOME SR. OPERATIONS BUSINESS ADVISOR AT PATRICK INDUSTRIES, ZACH LUKE APPOINTED AS PRESIDENT

Patrick Industries, Inc. Completes Acquisition of RecPro - A Leading Aftermarket E-Commerce Platform for Outdoor Enthusiasts

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