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Patrick Industries, Inc.
PATK Details
Patrick Industries, Inc. (NASDAQ: PATK) is a prominent producer of component solutions for the RV, marine, manufactured housing, and industrial industries, including single and multi-family housing, hospitality, institutional, and commercial applications. Manufacturing and distribution are the two parts of the firm, dependent on the type of product. As of October 28, 2021, PATK's market capitalization stood at USD 1.83 billion.
Latest News:
9MFY21 Results:
Key Risks:
Outlook:
Valuation Methodology: EV/EBITDA per share Multiple Based Relative Valuation
(Analysis by Kalkine Group)
* % Premium/(Discount) is based on our assessment of the company's NTM trading multiple after considering its key growth drivers, economic moat, stock's historical trading multiples versus peer average/median, and investment risks.
PATK Daily Technical Chart (Source: REFINITIV)
Stock Recommendation:
PATK's share price has surged by 40.88% in the past twelve months and is currently trading at the mid-band of its 52-week range of USD 53.30 to USD 98.83. The stock is currently trading below its 50 and 200 DMA levels, and its RSI Index is at 44.52. We have valued the stock using the EV/EBITDA based relative valuation methodology and arrived at a target price of USD 84.32.
Considering the company's robust track record, recent strategic acquisition, steady dividend yield, and associated risks, we recommend a "Hold" rating on the stock at the closing price of USD 80.13, up 3.59% as of October 28, 2021.
*All forecasted figures and Industry Information have been taken from REFINITIV.
*The reference data in this report has been partly sourced from REFINITIV.