Patrick Industries Inc (NASDAQ: PATK). Extremely important positive changes in investment behavior have recently occurred: its shorter term price trend turned up, the stock’s recent price rise disrupted its longer term downtrend, and the stock rose on very heavy volume.
Marginal positive changes in Patrick Industries Inc (NASDAQ: PATK) fundamentals have recently occurred: significant quarterly earnings acceleration occurred.
In light of these very positive signals 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.
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 (Neutral). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Patrick Industries has a poor Appreciation Score of 28 but a good Power Rating of 85, leading to the Neutral Value Trend Rating.
Recent Price Action
Patrick Industries Inc (NASDAQ: PATK) stock increased 1.1% on 6/28/24. The shares closed at $108.55. Moreover, this advance was accompanied by exceptionally high trading volume at 559% of normal. The stock has been exceptionally strong relative to the market over the last nine months and has risen 1.5% during the last week.
Be the first to comment