In-Depth Examination Of 4 Analyst Recommendations For Patrick Industries
Portfolio Pulse from Benzinga Insights
Patrick Industries (NASDAQ:PATK) received mixed analyst ratings, with a recent shift towards more bullish views. The average 12-month price target was raised to $122.5, reflecting an 11.03% increase from the previous target. The company faces challenges with a revenue decline of -17.94% and below-average net margin, but it has a strong ROE of 2.97%. Analysts from BMO Capital, Truist Securities, Keybanc, and Roth MKM have updated their ratings and price targets, indicating a positive outlook on the stock.
May 03, 2024 | 6:00 pm
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Patrick Industries has seen a positive shift in analyst ratings, with an updated average price target of $122.5. Despite facing revenue decline and below-average net margin, its strong ROE suggests potential for growth.
The increase in the average price target and positive adjustments in analyst ratings suggest a bullish outlook for PATK in the short term. Despite the revenue decline and challenges in net margin, the strong ROE indicates effective equity capital utilization, which could drive investor confidence and potentially uplift the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100