In-Depth Examination Of 4 Analyst Recommendations For Patrick Industries
Patrick Industries (NASDAQ:PATK) underwent analysis by 4 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
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.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 2 | 2 | 0 | 0 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 1 | 0 | 0 | 0 | 0 |
| 2M Ago | 0 | 0 | 0 | 0 | 0 |
| 3M Ago | 1 | 1 | 0 | 0 | 0 |
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.
Analyzing Analyst Ratings: A Detailed Breakdown
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.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Tristan Thomas-Martin | BMO Capital | Raises | Outperform | $125.00 | $120.00 |
| Michael Swartz | Truist Securities | Maintains | Buy | $130.00 | - |
| Brett Andress | Keybanc | Raises | Overweight | $115.00 | $110.00 |
| Scott Stember | Roth MKM | Raises | Buy | $120.00 | $101.00 |
Key Insights:
- Action Taken: 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.
- Rating: 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.
- Price Targets: 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.
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.
Stay up to date on Patrick Industries analyst ratings.
All You Need to Know 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 portion of revenue.
Financial Insights: Patrick Industries
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Decline in Revenue: Over the 3 months period, Patrick Industries faced challenges, resulting in a decline of approximately -17.94% 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.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 3.94%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 2.97%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Patrick Industries's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of 1.18%, the company may face hurdles in achieving optimal financial returns.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 1.15, caution is advised due to increased financial risk.
Analyst Ratings: Simplified
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.
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.
This article was generated by Benzinga's automated content engine and reviewed by an editor.