Patrick Industries shares are trading lower after the company reported worse-than-expected Q3 financial results. Also, Raymond James lowered its price target on the stock from $160 to $138.
Portfolio Pulse from Benzinga Newsdesk
Patrick Industries shares declined following disappointing Q3 results and a price target cut by Raymond James from $160 to $138.
November 01, 2024 | 7:31 pm
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Patrick Industries shares are down due to worse-than-expected Q3 results and a price target reduction by Raymond James from $160 to $138.
The company's shares are trading lower as a direct result of missing Q3 financial expectations, which is a negative indicator for investors. Additionally, the price target cut by Raymond James suggests a less optimistic outlook, further contributing to the negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100