In a report released today, Tim Conder from Wells Fargo maintained a Hold rating on Patrick Industries (PATK). The company’s shares closed last Tuesday at $29.11.
According to TipRanks.com, Conder is a 1-star analyst with an average return of -3.5% and a 48.6% success rate. Conder covers the Consumer Goods sector, focusing on stocks such as Acushnet Holdings, Harley-Davidson, and Malibu Boats.
Patrick Industries has an analyst consensus of Moderate Buy, with a price target consensus of $56.33.
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Based on Patrick Industries’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $549 million and net profit of $19.98 million. In comparison, last year the company earned revenue of $531 million and had a net profit of $26.97 million.
Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PATK in relation to earlier this year.
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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.
