In a report released today, Noah Zatzkin from KeyBanc maintained a Buy rating on Patrick Industries (PATK – Research Report). The company’s shares closed yesterday at $72.52.
Zatzkin covers the Consumer Cyclical sector, focusing on stocks such as Nordstrom, Oxford Industries, and Yeti Holdings. According to TipRanks, Zatzkin has an average return of -10.8% and a 27.27% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Patrick Industries with a $86.50 average price target, which is a 19.28% upside from current levels. In a report released on October 17, Truist Financial also maintained a Buy rating on the stock with a $95.00 price target.
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Based on Patrick Industries’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $920.69 million and a net profit of $42.36 million. In comparison, last year the company earned a revenue of $1.48 billion and had a net profit of $116.52 million
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Patrick Industries (PATK) Company Description:
Patrick Industries, Inc. engages in the manufacture of components products and distribution of building products for industrial markets. It operates through the following segments: Manufacturing and Distribution. The Manufacturing segment includes laminated products what are utilized to produce furniture, shelving, walls, countertops, cabinet products, cabinet doors, fiberglass bat fixtures, hardwood furniture, vinyl printing, solid surface, granite, quartz countertop fabrication, RV painting, fabricated aluminum products, fiberglass and plastic components, softwoods lumber, custom cabinetry, polymer-based flooring, electrical systems components, and other products. The Distribution segment distributes pre-finished wall and ceiling panels, drywall and drywall finishing products, electronics and audio systems components, wiring, electrical and plumbing products, fiber reinforced polyester products, cement siding, interior passage doors, roofing products, laminate and ceramic flooring, shower doors, furniture, fireplaces and surrounds, interior and exterior lightning products, and other miscellaneous products. The company was founded in 1959 and is headquartered in Elkhart, IN.
Read More on PATK:
- Patrick Industries, Inc. Reports Third Quarter 2023 Financial Results
- Patrick Industries, Inc. (PATK) Q3 Earnings Cheat Sheet
- Patrick Industries price target lowered to $95 from $100 at Truist
- Patrick Industries management to meet with Roth MKM
- Patrick Industries price target lowered to $100 from $105 at Truist
