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Patrick Industries Inc. (PATK) down -26.12% since start of the year

Patrick Industries Inc. (NASDAQ: PATK) is -26.12% lower on its value in year-to-date trading and has touched a low of $49.79 and a high of $88.79 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The PATK stock was last observed hovering at around $60.72 in the last trading session, with the day’s loss setting it -1.11% off its average median price target of $83.00 for the next 12 months. It is also 33.77% off the consensus price target high of $90.00 offered by 6 analysts, but current levels are 5.38% higher than the price target low of $63.00 for the same period.

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Currently trading at $59.61, the stock is 5.98% and 5.79% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.21 million and changing -1.83% at the moment leaves the stock -12.09% off its SMA200. PATK registered -27.86% loss for a year compared to 6-month loss of -5.99%. The firm has a 50-day simple moving average (SMA 50) of $0.60 and a 200-day simple moving average (SMA200) of $4.67.

The stock witnessed a 14.99% gain in the last 1 month and extending the period to 3 months gives it a -4.24%, and is 0.86% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.81% over the week and 3.76% over the month.

Patrick Industries Inc. (PATK) has around 11000 employees, a market worth around $1.34B and $5.03B in sales. Current P/E ratio is 4.12 and Fwd P/E is 5.54. Profit margin for the company is 4.50%. Distance from 52-week low is 19.72% and -32.86% from its 52-week high. The company has generated returns on investments over the last 12 months (13.80%).

Patrick Industries Inc. (PATK) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Patrick Industries Inc. (PATK) is a “Overweight”. 6 analysts offering their recommendations for the stock have an average rating of 2.20, where 0 rate it as a Hold and 1 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Patrick Industries Inc. is expected to release its quarterly report on 10/27/2022.The EPS is expected to grow by 129.10% this year.

Patrick Industries Inc. (PATK) Top Institutional Holders

The shares outstanding are 22.30M, and float is at 21.81M with Short Float at 6.38%.

Patrick Industries Inc. (PATK) Insider Activity

A total of 11 insider transactions have happened at Patrick Industries Inc. (PATK) in the last six months, with sales accounting for 4 and purchases happening 7 times. The most recent transaction is an insider sale by Cleveland Todd M,the company’sExecutive Board Chairman. SEC filings show that Cleveland Todd M sold 5,000 shares of the company’s common stock on May 13 at a price of $67.65 per share for a total of $0.34 million. Following the sale, the insider now owns 0.19 million shares.

Patrick Industries Inc. disclosed in a document filed with the SEC on May 12 that Cleveland Todd M (Executive Board Chairman) sold a total of 16,897 shares of the company’s common stock. The trade occurred on May 12 and was made at $64.72 per share for $1.09 million. Following the transaction, the insider now directly holds 0.2 million shares of the PATK stock.

Still, SEC filings show that on May 11, Cleveland Todd M (Executive Board Chairman) disposed off 3,103 shares at an average price of $65.04 for $0.2 million. The insider now directly holds 212,414 shares of Patrick Industries Inc. (PATK).

Patrick Industries Inc. (PATK): Who are the competitors?

The company’s main competitors (and peers) include Fortune Brands Home & Security Inc. (FBHS) that is trading -28.59% down over the past 12 months and Masco Corporation (MAS) that is -7.84% lower over the same period. Thor Industries Inc. (THO) is -28.79% down on the 1-year trading charts.

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