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NASDAQ:PATK

Patrick Industries (PATK) Stock Price, News & Analysis

$111.54
-0.55 (-0.49%)
(As of 09:30 AM ET)
Today's Range
$111.54
$111.54
50-Day Range
$102.64
$119.47
52-Week Range
$64.28
$123.58
Volume
1,529 shs
Average Volume
163,955 shs
Market Capitalization
$2.50 billion
P/E Ratio
16.52
Dividend Yield
1.97%
Price Target
$106.71

Patrick Industries MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.57 Rating Score
Upside/​Downside
4.8% Downside
$106.71 Price Target
Short Interest
Bearish
6.28% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-3.18
Upright™ Environmental Score
News Sentiment
0.77mentions of Patrick Industries in the last 14 days
Based on 4 Articles This Week
Insider Trading
Selling Shares
$5.32 M Sold Last Quarter
Proj. Earnings Growth
20.05%
From $8.13 to $9.76 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.41 out of 5 stars

Construction Sector

11th out of 101 stocks

Motor Vehicle Parts & Accessories Industry

7th out of 32 stocks

PATK stock logo

About Patrick Industries Stock (NASDAQ:PATK)

Patrick Industries, Inc. is a leading manufacturer and distributor of building products and materials for the recreational, marine, and manufactured housing industries. Founded in 1959 and headquartered in Elkhart, Indiana, the company operates 60 facilities across the United States and Canada. Patrick Industries has established a reputation for providing high-quality, innovative products that meet the evolving needs of its customers.

The company's leadership team is led by CEO Andy Nemeth, who has been with Patrick Industries since 2002. Nemeth has over 31 years of experience in the manufacturing and distribution industries and has played a crucial role in the company's growth and success. Other key management team members include Chief Financial Officer Jacob Petkovich, who joined the team in Q4 of 2020. Mr. Petkovich previously served as the Managing Director of Leveraged Finance for Wells Fargo's security division. 

Patrick Industries has seen steady growth in recent years, with revenue increasing from 2016 - 2022. The company has also shown consistent profitability, with operating income growth during that period. The company has managed its debt levels effectively, with total debt decreasing or staying about the same during 2016 - 2022. The company's stock has performed better than most sectors, increasing from around $25 in 2016 to approximately $90 in Q4 2022. In 2020, Patrick Industries acquired Goshen, Indiana-based Inland Plywood Company for $54 million, expanding the company's product offerings in the RV and marine industries.

The recreational vehicle, marine, and manufactured housing industries have experienced substantial growth in recent years, driven by a robust economy and a growing interest in outdoor activities. However, the industry also faces rising material costs and supply chain disruptions. Patrick Industries operates in a highly competitive market, with significant competitors including Thor Industries, Inc., LCI Industries, and Winnebago Industries, Inc. The industry is also subject to regulatory and political issues, such as emissions standards and trade policies.

Patrick Industries has several growth opportunities, including expanding its product offerings, pursuing strategic acquisitions, and entering new markets. The purchase of Inland Plywood Company will provide the company with additional product offerings in the RV and marine industries. The company has also announced the expansion of its operations in Canada, providing other growth opportunities.

Patrick Industries faces several risks and challenges, including changes in consumer preferences and economic conditions, supply chain disruptions, and regulatory changes. The company's dependence on the RV, marine, and manufactured housing industries also makes it vulnerable to market downturns. Additionally, the company may face increased competition from existing competitors or new entrants to the market. However, the company has a proven track record of adapting to changing market conditions and has established itself as a leader in the industry.

Environmental, social, and governance (ESG) issues are becoming increasingly important for companies in all sectors, including Patrick Industries. As a company that manufactures and distributes building products, Patrick Industries is responsible for managing its environmental impact and ensuring its products are sustainable and safe. The company has implemented various sustainability initiatives, such as reducing waste and promoting energy efficiency in its facilities.

Regarding social responsibility, Patrick Industries is committed to providing employees with a safe and healthy work environment. The company has implemented various programs and initiatives to promote employee health and wellness, such as offering wellness programs and resources for mental health support.

Governance is also essential for investors, as it can impact a company's long-term success. Patrick Industries has a robust corporate governance framework, with an independent board of directors and a commitment to transparency and accountability.

PATK Stock Price History

PATK Stock News Headlines

KeyBanc Sticks to Its Buy Rating for Patrick Industries (PATK)
Patrick Industries is Now Oversold (PATK)
PATK Apr 2024 120.000 call
PATK Apr 2024 115.000 call
Patrick Industries Appoints Andy Roeder As New CFO
See More Headlines
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Company Calendar

Ex-Dividend for 3/4 Dividend
2/16/2024
Dividend Payable
3/04/2024
Last Earnings
5/02/2024
Today
5/22/2024
Next Earnings (Estimated)
7/25/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Motor vehicle parts & accessories
Sub-Industry
Building Products
Current Symbol
NASDAQ:PATK
CUSIP
70334310
Employees
10,000
Year Founded
1959

Price Target and Rating

Average Stock Price Target
$106.71
High Stock Price Target
$130.00
Low Stock Price Target
$75.00
Potential Upside/Downside
-4.8%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.57
Research Coverage
7 Analysts

Profitability

Net Income
$142.90 million
Pretax Margin
5.51%

Debt

Sales & Book Value

Annual Sales
$3.47 billion
Cash Flow
$13.16 per share
Book Value
$47.25 per share

Miscellaneous

Free Float
21,349,000
Market Cap
$2.51 billion
Optionable
Optionable
Beta
1.73

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Key Executives

  • Mr. Andy L. NemethMr. Andy L. Nemeth (Age 55)
    CEO & Director
    Comp: $2.48M
  • Mr. Jeffrey M. Rodino (Age 54)
    President & President of RV
    Comp: $1.5M
  • Attorney Joel D. Duthie (Age 49)
    Executive VP, Chief Legal Officer & Secretary
    Comp: $948.48k
  • Mr. Kip B. Ellis (Age 50)
    President of Powersports & Housing
    Comp: $1.32M
  • Mr. Matthew Filer (Age 50)
    Senior VP of Finance & Corporate Controller
    Comp: $962.32k
  • Mr. Andy Roeder
    CFO, Executive VP of Finance & Treasurer
  • Mr. Hugo Gonzalez (Age 43)
    Executive Vice President of Operations & Chief Operating Officer
  • Steve O'Hara
    Vice President of Investor Relations
  • Mr. Charlie Roeder
    Executive Vice President of Sales
  • Ms. Stacey Amundson (Age 57)
    Executive VP of Human Resources & Chief Human Resources Officer

PATK Stock Analysis - Frequently Asked Questions

Should I buy or sell Patrick Industries stock right now?

7 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Patrick Industries in the last year. There are currently 1 sell rating, 1 hold rating and 5 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" PATK shares.
View PATK analyst ratings
or view top-rated stocks.

What is Patrick Industries' stock price target for 2024?

7 brokers have issued 12 month target prices for Patrick Industries' stock. Their PATK share price targets range from $75.00 to $130.00. On average, they predict the company's share price to reach $106.71 in the next year. This suggests that the stock has a possible downside of 4.8%.
View analysts price targets for PATK
or view top-rated stocks among Wall Street analysts.

How have PATK shares performed in 2024?

Patrick Industries' stock was trading at $100.35 at the start of the year. Since then, PATK shares have increased by 11.7% and is now trading at $112.09.
View the best growth stocks for 2024 here
.

When is Patrick Industries' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, July 25th 2024.
View our PATK earnings forecast
.

How were Patrick Industries' earnings last quarter?

Patrick Industries, Inc. (NASDAQ:PATK) released its quarterly earnings results on Thursday, May, 2nd. The construction company reported $1.79 earnings per share for the quarter, topping analysts' consensus estimates of $1.32 by $0.47. The construction company had revenue of $933.50 million for the quarter, compared to analysts' expectations of $829.22 million. Patrick Industries had a net margin of 4.22% and a trailing twelve-month return on equity of 14.90%. Patrick Industries's revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.35 EPS.

How often does Patrick Industries pay dividends? What is the dividend yield for Patrick Industries?

Patrick Industries declared a quarterly dividend on Thursday, May 16th. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.55 per share on Monday, June 17th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Monday, June 3rd.
Read our dividend analysis for PATK
.

Is Patrick Industries a good dividend stock?

Patrick Industries (NASDAQ:PATK) pays an annual dividend of $2.20 per share and currently has a dividend yield of 1.95%. The company has been increasing its dividend for 5 consecutive years, indicating the company has a new, but growing committment to grow its dividend. The dividend payout ratio is 32.59%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PATK will have a dividend payout ratio of 22.54% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PATK.

When did Patrick Industries' stock split?

Patrick Industries's stock split on the morning of Monday, December 11th 2017. The 3-2 split was announced on Thursday, November 9th 2017. The newly created shares were issued to shareholders after the market closes on Friday, December 8th 2017. An investor that had 100 shares of stock prior to the split would have 150 shares after the split.

What is Andy Nemeth's approval rating as Patrick Industries' CEO?

2 employees have rated Patrick Industries Chief Executive Officer Andy Nemeth on Glassdoor.com. Andy Nemeth has an approval rating of 100% among the company's employees. This puts Andy Nemeth in the top 10% of approval ratings compared to other CEOs of publicly-traded companies.

What other stocks do shareholders of Patrick Industries own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Patrick Industries investors own include Advanced Micro Devices (AMD), Applied Materials (AMAT), Home Depot (HD), NVIDIA (NVDA), Intel (INTC), Lam Research (LRCX), AT&T (T), Micron Technology (MU), Block (SQ) and Verizon Communications (VZ).

Who are Patrick Industries' major shareholders?

Patrick Industries' stock is owned by a number of institutional and retail investors. Top institutional investors include Vanguard Group Inc. (6.89%), Price T Rowe Associates Inc. MD (1.24%), Tributary Capital Management LLC (0.92%), Bridgeway Capital Management LLC (0.76%), Epoch Investment Partners Inc. (0.67%) and Wasatch Advisors LP (0.56%). Insiders that own company stock include Andy L Nemeth, Derrick B Mayes, Jeff Rodino, Kip B Ellis, M Scott Welch, Michael A Kitson, Pamela R Klyn, Todd M Cleveland and Todd M Cleveland.
View institutional ownership trends
.

How do I buy shares of Patrick Industries?

Shares of PATK stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Does Patrick Industries have any subsidiaries?
The following companies are subsidiares of Patrick Industries: Metal Moulding Corp..
Read More
This page (NASDAQ:PATK) was last updated on 5/22/2024 by MarketBeat.com Staff

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