Patrick Industries, Inc (NASDAQ:PATK) price on Friday, March 21, rose 0.67% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $85.08.
A look at the stock’s price movement, the close in the last trading session was $84.51, moving within a range at $82.82 and $85.4. The beta value (5-Year monthly) was 1.737 while the PE ratio in trailing twelve months stood at 20.62. Turning to its 52-week performance, $98.90 and $67.72 were the 52-week high and 52-week low respectively. Overall, PATK moved -8.52% over the past month.
Patrick Industries, Inc’s market cap currently stands at around $2.86 billion, with investors looking forward to this quarter’s earnings report slated for on 2025-Feb-05. The company has a Forward Dividend ratio of 1.53, with its dividend yield at 1.80%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 960.2M for the company’s revenue for the quarter, with a low and high estimate of 947M and 980.5M respectively. The average forecast suggests up to a 2.86% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 3.95B, representing a 6.22% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that PATK is a 50% Sell. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
2 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 2 recommend PATK as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
PATK’s current price about -2.50% and -6.34% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 41.73, while 7-day volatility ratio is 3.52% and 3.67% in the 30-day chart. Further, Patrick Industries, Inc (PATK) has a beta value of 1.48, and an average true range (ATR) of 3.01. Analysts have given the company’s stock an average 52-week price target of $127.5, forecast between a low of $105 and high of $150. Looking at the price targets, the low is -23.41% off current price level while to achieve the yearly target high, price needs to move -76.3%. Nonetheless, investors will most likely welcome a -49.86% jump to $127.5 which is the analysts’ median price.
If we refocus on Patrick Industries, Inc (NASDAQ:PATK), historical trading data shows that trading volumes averaged 0.44 over the past 10 days and 363.08K over the past 3 months. The company’s latest data on shares outstanding shows there are 33.57 million shares.
The 4.33% of Patrick Industries, Inc’s shares are in the hands of company insiders while institutional holders own 101.26% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 3.1 million on 2025-02-28, giving us a short ratio of 8.35. The data shows that as of 2025-02-28 short interest in Patrick Industries, Inc (PATK) stood at 1167.0 of shares outstanding, with shares short rising to 2.47 million registered in 2025-01-31. Current price change has pushed the stock 2.41% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PATK stock continues to rise going into the next quarter.
