Patrick IndustriesPATK
Market Cap: $2.8B
About: Patrick Industries Inc makes and sells building products and materials for recreational vehicles and manufactured housing. The company is organized into two segments based on product type: manufacturing and distribution. The manufacturing segment, which generates the majority of revenue, sells laminated and vinyl products that include furniture, shelving, cabinets, bath fixtures, and countertops. The distribution segment sells prefinished wall and ceiling panels, as well as electrical and plumbing products for the RV and manufactured housing industries. One of the firm's RV customers makes up a portion of revenue.
Employees: 10,000
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
1.76% more ownership
Funds ownership: 95.69% [Q1] → 97.45% (+1.76%) [Q2]
6% more repeat investments, than reductions
Existing positions increased: 94 | Existing positions reduced: 89
3% less funds holding
Funds holding: 270 [Q1] → 261 (-9) [Q2]
7% less capital invested
Capital invested by funds: $2.55B [Q1] → $2.37B (-$185M) [Q2]
23% less first-time investments, than exits
New positions opened: 30 | Existing positions closed: 39
50% less funds holding in top 10
Funds holding in top 10: 2 [Q1] → 1 (-1) [Q2]
60% less call options, than puts
Call options by funds: $2.48M | Put options by funds: $6.17M
Research analyst outlook
6 Wall Street Analysts provided 1 year price targets over the past 3 months
6 analyst ratings
Benchmark Michael Albanese 42% 1-year accuracy 8 / 19 met price target | 16%upside $145 | Buy Initiated | 29 Aug 2024 |
DA Davidson Brandon Rolle 38% 1-year accuracy 3 / 8 met price target | 9%downside $114 | Neutral Maintained | 5 Aug 2024 |
BMO Capital Tristan Thomas-Martin 71% 1-year accuracy 5 / 7 met price target | 8%upside $135 | Outperform Maintained | 2 Aug 2024 |
Keybanc Brett Andress 43% 1-year accuracy 3 / 7 met price target | 8%upside $135 | Overweight Maintained | 2 Aug 2024 |
Baird Craig Kennison 69% 1-year accuracy 18 / 26 met price target | 2%upside $128 | Outperform Maintained | 2 Aug 2024 |