Patrick Industries Inc (NASDAQ: PATK) has reported E.P.S. of $1.62 for its first fiscal quarter (ending March 31) versus $1.40 for the same period a year ago — an increase of 16%. This performance was $0.01 better than the consensus estimate of $1.61. E.P.S. were $6.87 for the latest four quarters through March 31 versus $11.15 for the same period a year ago — a decline of -38%.
Recent Price Action
On 5/2/24, Patrick Industries Inc (NASDAQ: PATK) stock enjoyed a very large increase of 6.0%, closing at $110.34. Moreover, trading volume in this advance was unusually high at 181% of normal. Relative to the market the stock has been exceptionally strong over the last nine months and has risen 3.3% during the last week.
Current PriceTarget Research Rating
PATK’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a major Value Builder.
Patrick Industries has a current Value Trend Rating of C (High Neutral). This rating combines very contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Patrick Industries has a poor Appreciation Score of 28 but a very high Power Rating of 86, resulting in the High Neutral Value Trend Rating.
Rating Review
In light of this encouraging new earnings information and positive market action we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
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