Fintel reports that on August 29, 2024, Benchmark initiated coverage of Patrick Industries (NasdaqGS:PATK) with a Buy recommendation.
Analyst Price Forecast Suggests 2.75% Upside
As of August 26, 2024, the average one-year price target for Patrick Industries is $132.09/share. The forecasts range from a low of $95.95 to a high of $157.50. The average price target represents an increase of 2.75% from its latest reported closing price of $128.55 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Patrick Industries is 4,600MM, an increase of 27.87%. The projected annual non-GAAP EPS is 8.64.
What is the Fund Sentiment?
There are 633 funds or institutions reporting positions in Patrick Industries. This is an increase of 1 owner(s) or 0.16% in the last quarter. Average portfolio weight of all funds dedicated to PATK is 0.23%, an increase of 2.72%. Total shares owned by institutions increased in the last three months by 5.69% to 26,895K shares. 
The put/call ratio of PATK is 4.31, indicating a bearish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 1,362K shares representing 6.08% ownership of the company. In its prior filing, the firm reported owning 1,407K shares , representing a decrease of 3.34%. The firm decreased its portfolio allocation in PATK by 8.68% over the last quarter.
Pacer Advisors holds 1,326K shares representing 5.92% ownership of the company. In its prior filing, the firm reported owning 1,104K shares , representing an increase of 16.74%. The firm increased its portfolio allocation in PATK by 7.57% over the last quarter.
CALF - Pacer US Small Cap Cash Cows 100 ETF holds 1,167K shares representing 5.21% ownership of the company. In its prior filing, the firm reported owning 1,228K shares , representing a decrease of 5.24%. The firm decreased its portfolio allocation in PATK by 19.12% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 669K shares representing 2.99% ownership of the company. In its prior filing, the firm reported owning 668K shares , representing an increase of 0.25%. The firm decreased its portfolio allocation in PATK by 11.42% over the last quarter.
FSCRX - Fidelity Small Cap Discovery Fund holds 664K shares representing 2.97% ownership of the company. In its prior filing, the firm reported owning 834K shares , representing a decrease of 25.58%. The firm decreased its portfolio allocation in PATK by 17.96% over the last quarter.
Patrick Industries Background Information
(This description is provided by the company.)
Patrick Industries, Inc. is a major manufacturer and distributor of component products and building products serving the recreational vehicle, marine, manufactured housing, residential housing, high-rise, hospitality, kitchen cabinet, office and household furniture, fixtures and commercial furnishings, and other industrial markets and operates coast-to-coast in various locations throughout the United States and in Canada, China and the Netherlands. Patrick's major manufactured products include decorative vinyl and paper laminated panels, countertops, fabricated aluminum products, wrapped profile mouldings, slide-out trim and fascia, cabinet doors and components, hardwood furniture, fiberglass bath fixtures and tile systems, thermoformed shower surrounds, specialty bath and closet building products, fiberglass and plastic helm systems and component products, wiring and wire harnesses, boat covers, towers, tops and frames, electrical systems components including instrument and dash panels, softwoods lumber, interior passage doors, air handling products, RV painting, slotwall panels and components, aluminum fuel tanks, and CNC molds and composite parts and other products. The Company also distributes drywall and drywall finishing products, electronics and audio systems components, wiring, electrical and plumbing products, appliances, cement siding, raw and processed lumber, FRP products, interior passage doors, roofing products, tile, laminate and ceramic flooring, shower doors, furniture, fireplaces and surrounds, interior and exterior lighting products, various marine aftermarket products, and other miscellaneous products, in addition to providing transportation and logistics services.
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