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NASDAQ:PATK

Patrick Industries - PATK Stock Forecast, Price & News

$67.73
-0.08 (-0.12%)
(As of 03/20/2023 12:00 AM ET)
Add
Compare
Today's Range
$67.49
$69.84
50-Day Range
$63.60
$77.19
52-Week Range
$41.75
$77.96
Volume
188,712 shs
Average Volume
178,091 shs
Market Capitalization
$1.52 billion
P/E Ratio
5.04
Dividend Yield
2.66%
Price Target
$71.33

Patrick Industries MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.57 Rating Score
Upside/​Downside
5.3% Upside
$71.33 Price Target
Short Interest
Bearish
5.14% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-3.18
Upright™ Environmental Score
News Sentiment
N/A
Insider Trading
Selling Shares
$2.59 M Sold Last Quarter
Proj. Earnings Growth
22.09%
From $7.83 to $9.56 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.08 out of 5 stars

Construction Sector

69th out of 106 stocks

Motor Vehicle Parts & Accessories Industry

22nd out of 33 stocks


PATK stock logo

About Patrick Industries (NASDAQ:PATK) Stock

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.

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PATK Stock News Headlines

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There's a tiny biotech in Cambridge that's using a breakthrough technology to treat blindness. This company has already shown success in human trials... And Our research shows that anyone who gets in today could see a 46,751% return.
Why Patrick Industries Is A Solid Investment Opportunity
BREAKING: Tiny biotech successfully treats blindness
There's a tiny biotech in Cambridge that's using a breakthrough technology to treat blindness. This company has already shown success in human trials... And Our research shows that anyone who gets in today could see a 46,751% return.
Patrick Industries Earnings Preview
Rockford Fosgate® Mourns Loss of Founder Jim Fosgate
Recap: Patrick Industries Q3 Earnings
See More Headlines
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PATK Company Calendar

Last Earnings
2/09/2023
Ex-Dividend for 3/6 Dividend
2/17/2023
Dividend Payable
3/06/2023
Today
3/20/2023
Next Earnings (Estimated)
4/27/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

Industry
Motor vehicle parts & accessories
Sub-Industry
Building Products
Current Symbol
NASDAQ:PATK
CUSIP
70334310
Employees
11,000
Year Founded
1959

Price Target and Rating

Average Stock Price Forecast
$71.33
High Stock Price Forecast
$85.00
Low Stock Price Forecast
$60.00
Forecasted Upside/Downside
+2.4%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.57
Research Coverage
7 Analysts

Profitability

Net Income
$328.20 million
Pretax Margin
8.92%

Debt

Sales & Book Value

Annual Sales
$4.88 billion
Cash Flow
$22.18 per share
Book Value
$42.15 per share

Miscellaneous

Free Float
21,052,000
Market Cap
$1.56 billion
Optionable
Optionable
Beta
1.89

Social Links


Key Executives

  • Andy L. NemethAndy L. Nemeth
    Chief Executive Officer & Director
  • Jeffrey M. Rodino
    President
  • Kip B. Ellis
    Chief Operating Officer & Executive VP-Operations
  • Jacob R. Petkovich
    Chief Financial, Treasurer & Accounting Officer
  • Stacey Amundson
    Chief Human Resources Officer & Executive VP













PATK Stock - Frequently Asked Questions

Should I buy or sell Patrick Industries stock right now?

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

What is Patrick Industries' stock price forecast for 2023?

7 equities research analysts have issued 12-month price objectives for Patrick Industries' stock. Their PATK share price forecasts range from $60.00 to $85.00. On average, they predict the company's share price to reach $71.33 in the next twelve months. This suggests a possible upside of 2.4% from the stock's current price.
View analysts price targets for PATK
or view top-rated stocks among Wall Street analysts.

How have PATK shares performed in 2023?

Patrick Industries' stock was trading at $60.60 at the beginning of 2023. Since then, PATK stock has increased by 14.9% and is now trading at $69.64.
View the best growth stocks for 2023 here
.

When is Patrick Industries' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, April 27th 2023.
View our PATK earnings forecast
.

How were Patrick Industries' earnings last quarter?

Patrick Industries, Inc. (NASDAQ:PATK) released its earnings results on Thursday, February, 9th. The construction company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.11. The construction company had revenue of $952 million for the quarter, compared to the consensus estimate of $935.39 million. Patrick Industries had a trailing twelve-month return on equity of 38.26% and a net margin of 6.72%. The firm's revenue was down 17.0% on a year-over-year basis. During the same quarter last year, the company earned $2.55 EPS.

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

Patrick Industries declared a quarterly dividend on Monday, February 6th. Shareholders of record on Tuesday, February 21st will be paid a dividend of $0.45 per share on Monday, March 6th. This represents a $1.80 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Friday, February 17th.
Read our dividend analysis for PATK
.

Is Patrick Industries a good dividend stock?

Patrick Industries (NASDAQ:PATK) pays an annual dividend of $1.80 per share and currently has a dividend yield of 2.65%. The company has been increasing its dividend for 4 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 13.39%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PATK will have a dividend payout ratio of 18.83% 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 payable 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).

What is Patrick Industries' stock symbol?

Patrick Industries trades on the NASDAQ under the ticker symbol "PATK."

Who are Patrick Industries' major shareholders?

Patrick Industries' stock is owned by a number of retail and institutional investors. Top institutional shareholders include Dimensional Fund Advisors LP (5.25%), Geode Capital Management LLC (1.83%), Charles Schwab Investment Management Inc. (1.50%), GW&K Investment Management LLC (1.38%), Pacer Advisors Inc. (1.35%) and Arrowstreet Capital Limited Partnership (0.99%). Insiders that own company stock include Andy L Nemeth, Courtney Blosser, Derrick B Mayes, Jeff Rodino, Joshua A Boone, 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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Patrick Industries' stock price today?

One share of PATK stock can currently be purchased for approximately $69.64.

How much money does Patrick Industries make?

Patrick Industries (NASDAQ:PATK) has a market capitalization of $1.56 billion and generates $4.88 billion in revenue each year. The construction company earns $328.20 million in net income (profit) each year or $13.44 on an earnings per share basis.

How many employees does Patrick Industries have?

The company employs 11,000 workers across the globe.

Does Patrick Industries have any subsidiaries?
The following companies are subsidiares of Patrick Industries: Metal Moulding Corp..
Read More
How can I contact Patrick Industries?

Patrick Industries' mailing address is 107 WEST FRANKLIN STREET PO BOX 638, ELKHART IN, 46515. The official website for the company is www.patrickind.com. The construction company can be reached via phone at (574) 294-7511, via email at ir@patrickind.com, or via fax at 574-522-5213.

This page (NASDAQ:PATK) was last updated on 3/20/2023 by MarketBeat.com Staff