The stock of Patrick Industries, Inc (PATK) has seen a -10.45% decrease in the past week, with a -16.65% drop in the past month, and a 0.32% flourish in the past quarter. The volatility ratio for the week is 3.85%, and the volatility levels for the past 30 days are at 2.56% for PATK. The simple moving average for the past 20 days is -12.89% for PATK’s stock, with a 1.63% simple moving average for the past 200 days.
Is It Worth Investing in Patrick Industries, Inc (NASDAQ: PATK) Right Now?
Patrick Industries, Inc (NASDAQ: PATK) has a price-to-earnings ratio that is above its average at 17.31x. The stock has a 36-month beta value of 1.62. Opinions on the stock are mixed, with 6 analysts rating it as a “buy,” 3 as “overweight,” 1 as “hold,” and 1 as “sell.”
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The public float for PATK is 21.40M, and at present, short sellers hold a 6.82% of that float. On November 01, 2024, the average trading volume of PATK was 174.55K shares.
PATK) stock’s latest price update
The stock of Patrick Industries, Inc (NASDAQ: PATK) has decreased by -4.33 when compared to last closing price of 125.98.Despite this, the company has seen a loss of -10.45% in its stock price over the last five trading days. seekingalpha.com reported 2024-10-31 that Patrick Industries, Inc. (NASDAQ:PATK ) Q3 2024 Earnings Conference Call October 31, 2024 10:00 AM ET Company Participants Steve O’Hara – VP, IR Andy Nemeth – CEO Jeffrey Rodino – President Andrew Roeder – EVP, Finance, CFO, and Treasurer Kip Ellis – President, Powersports, Technology & Housing Conference Call Participants Scott Stember – ROTH MKM Mike Swartz – Truist Securities Daniel Moore – CJS Securities Noah Zatzkin – KeyBanc Capital Markets Craig Kennison – Baird Tristan Thomas-Martin – BMO Capital Markets Alex Perry – Bank of America Merrill Lynch Operator Good morning, ladies and gentlemen, and welcome to Patrick Industries Third Quarter 2024 Earnings Conference Call. My name is Joe, and I will be your operator for today’s call.
Analysts’ Opinion of PATK
Many brokerage firms have already submitted their reports for PATK stocks, with Raymond James repeating the rating for PATK by listing it as a “Outperform.” The predicted price for PATK in the upcoming period, according to Raymond James is $160 based on the research report published on October 01, 2024 of the current year 2024.
The Benchmark Company, on the other hand, stated in their research note that they expect to see PATK reach a price target of $145. The rating they have provided for PATK stocks is “Buy” according to the report published on August 29th, 2024.
BMO Capital Markets gave a rating of “Outperform” to PATK, setting the target price at $105 in the report published on December 07th of the previous year.
PATK Trading at -11.90% from the 50-Day Moving Average
After a stumble in the market that brought PATK to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -18.75% of loss for the given period.
Volatility was left at 2.56%, however, over the last 30 days, the volatility rate increased by 3.85%, as shares sank -17.21% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -5.05% lower at present.
During the last 5 trading sessions, PATK fell by -10.09%, which changed the moving average for the period of 200-days by +25.02% in comparison to the 20-day moving average, which settled at $138.40. In addition, Patrick Industries, Inc saw 20.11% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at PATK starting from Rodino Jeff, who sale 20,000 shares at the price of $131.37 back on Sep 12 ’24. After this action, Rodino Jeff now owns 139,109 shares of Patrick Industries, Inc, valued at $2,627,408 using the latest closing price.
Cleveland Todd M, the Director of Patrick Industries, Inc, sale 7,500 shares at $131.05 during a trade that took place back on Sep 12 ’24, which means that Cleveland Todd M is holding 82,374 shares at $982,884 based on the most recent closing price.
Stock Fundamentals for PATK
Current profitability levels for the company are sitting at:
- 0.08 for the present operating margin
- 0.22 for the gross margin
The net margin for Patrick Industries, Inc stands at 0.04. The total capital return value is set at 0.1. Equity return is now at value 14.63, with 5.37 for asset returns.
Based on Patrick Industries, Inc (PATK), the company’s capital structure generated 0.59 points at debt to capital in total, while cash flow to debt ratio is standing at 0.21. The debt to equity ratio resting at 1.42. The interest coverage ratio of the stock is 3.64.
Currently, EBITDA for the company is 404.74 million with net debt to EBITDA at 4.87. When we switch over and look at the enterprise to sales, we see a ratio of 1.16. The receivables turnover for the company is 14.3for trailing twelve months and the total asset turnover is 1.17. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.29.
Conclusion
To sum up, Patrick Industries, Inc (PATK) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
