Sentiment for Patrick Industries Inc (NASDAQ:PATK)
Patrick Industries Inc (NASDAQ:PATK) institutional sentiment decreased to 0.79 in Q2 2019. Its down -0.30, from 1.09 in 2019Q1. The ratio dropped, as 67 hedge funds opened new or increased stock positions, while 85 reduced and sold their stakes in Patrick Industries Inc. The hedge funds in our partner’s database now possess: 21.23 million shares, down from 51.77 million shares in 2019Q1. Also, the number of hedge funds holding Patrick Industries Inc in their top 10 stock positions was flat from 1 to 1 for the same number . Sold All: 15 Reduced: 70 Increased: 48 New Position: 19.
Patrick Industries, Inc. manufactures and distributes building products and materials for the recreational vehicle, manufactured housing, and industrial markets in the United States and Canada. The company has market cap of $1.18 billion. The Company’s Manufacturing segment makes and fabricates decorative vinyl and paper laminated panels; fabricated aluminum products; wrapped vinyl, paper, and hardwood profile moldings; solid surface, granite, and quartz countertops; cabinet doors and components; hardwood furniture; fiberglass bath and shower surrounds and fixtures; fiberglass marine helms; fiberglass and plastic component products; slide-out trim and fascia; interior passage doors; RV paintings; softwoods lumber; simulated wood and stone products; slotwall panels and components; and others. It has a 12.35 P/E ratio. It also offers custom fabrication, edge-banding, drilling, boring, and cut-to-size services.
The stock increased 3.02% or $1.5 during the last trading session, reaching $51.22. About 75,206 shares traded. Patrick Industries, Inc. (NASDAQ:PATK) has declined 24.24% since December 4, 2018 and is downtrending. It has underperformed by 24.24% the S&P500.
Analysts await Patrick Industries, Inc. (NASDAQ:PATK) to report earnings on February, 13. They expect $0.76 earnings per share, down 20.83 % or $0.20 from last year’s $0.96 per share. PATK’s profit will be $17.46 million for 16.85 P/E if the $0.76 EPS becomes a reality. After $0.92 actual earnings per share reported by Patrick Industries, Inc. for the previous quarter, Wall Street now forecasts -17.39 % negative EPS growth.
Gendell Jeffrey L holds 5.05% of its portfolio in Patrick Industries, Inc. for 819,571 shares. Rk Capital Management Llc owns 86,100 shares or 1.31% of their US portfolio. Moreover, Nokomis Capital L.L.C. has 1.16% invested in the company for 120,266 shares. The Massachusetts-based Nbw Capital Llc has invested 1.09% in the stock. Matarin Capital Management Llc, a Connecticut-based fund reported 284,403 shares.
Patrick Industries, Inc. (NASDAQ:PATK) Ratings Coverage
Ratings analysis reveals 50% of Patrick Industries’s analysts are positive. Out of 2 Wall Street analysts rating Patrick Industries, 1 give it “Buy”, 1 “Sell” rating, while 0 recommend “Hold”. The lowest target is $3600 while the high is $54. The stock’s average target of $45 is -12.14% below today’s ($51.22) share price. PATK was included in 3 notes of analysts from September 4, 2019. The stock has “Underperform” rating by Bank of America on Wednesday, September 4. The firm has “Buy” rating given on Friday, October 25 by Robert W. Baird.
More notable recent Patrick Industries, Inc. (NASDAQ:PATK) news were published by: Seekingalpha.com which released: “Stocks To Watch: Amazon, Alibaba And Peloton In Focus – Seeking Alpha” on September 21, 2019, also Seekingalpha.com with their article: “Patrick Industries May Have Reached An Inflection Point – Seeking Alpha” published on May 13, 2019, Finance.Yahoo.com published: “Hedge Funds Are Dumping Patrick Industries, Inc. (PATK) – Yahoo Finance” on October 27, 2019. More interesting news about Patrick Industries, Inc. (NASDAQ:PATK) were released by: Seekingalpha.com and their article: “Dividends back on at Patrick Industries – Seeking Alpha” published on December 03, 2019 as well as Prnewswire.com‘s news article titled: “Patrick Industries, Inc. Announces Pricing of Private Offering of $300 Million of Senior Notes – PRNewswire” with publication date: September 12, 2019.
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