Patrick Industries’ Successful Ride Continues to Soar!
January 6, 2024
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Patrick Industries ($NASDAQ:PATK)’ successful ride continues to soar! Riding higher with Patrick Industries: The Journey Continues. Patrick Industries is a publicly-traded company that is a market leader in the production and distribution of components and building products for the Recreational Vehicle (RV), Manufactured Housing (MH) and Industrial Markets. The company has continued to invest in its core businesses and expand its product offerings, as well as improve its already-robust supply chain network. In this way, Patrick Industries has been able to maintain its strong competitive position in the markets it serves and is continuing to increase its reach in new areas. As the company continues to benefit from strong RV demand, it is also looking to further expand into other sectors, such as MH and industrial.
In addition, it is investing in new technologies that will help it reduce costs and increase efficiency in the future. Furthermore, Patrick Industries’ experienced management team is committed to ensuring the company will continue to benefit from its strong competitive position and will remain a leader in the industries it serves. From its strong leadership to its robust supply chain network, the company is well positioned for continued success in the years ahead.
Price History
Thursday was a positive day for PATRICK INDUSTRIES, as their stock opened at $95.5 and closed at $95.4, up by 0.3% from previous closing price of 95.2. This is the latest in a series of strong showings from the company, indicating that PATRICK INDUSTRIES’ ride continues to soar. This performance is a testament to the company’s stellar management and innovative strategies, which have allowed them to see success in a challenging market. As PATRICK INDUSTRIES continues to perform well, investors have every reason to remain bullish on the company’s prospects. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Patrick Industries. More…
| Total Revenues | Net Income | Net Margin |
| 3.64k | 152.26 | 4.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Patrick Industries. More…
| Operations | Investing | Financing |
| 475.76 | -188.05 | -324.53 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Patrick Industries. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.66k | 1.62k | 46.59 |
Key Ratios Snapshot
Some of the financial key ratios for Patrick Industries are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 17.1% | 22.5% | 7.4% |
| FCF Margin | ROE | ROA |
| 11.2% | 16.7% | 6.4% |
Analysis
After performing an analysis of PATRICK INDUSTRIES‘s fundamentals, GoodWhale has identified the company as a ‘rhino’, a type of company we conclude that has achieved moderate revenue or earnings growth. Our Star Chart shows that PATRICK INDUSTRIES is strong in dividend, growth, profitability, and weak in asset. The high health score of 8/10 demonstrates that PATRICK INDUSTRIES is capable to safely ride out any crisis without the risk of bankruptcy, making it an attractive investment option for many investors who are looking for a safe and secure portfolio. This combination of moderate revenue/earnings growth and strong balance sheet make PATRICK INDUSTRIES an ideal investment for those investors looking for a reliable long-term source of income with some stability. More…
Peers
The Company’s segments include Recreational Vehicle Products, Manufactured Housing Products, Marine Products, and Commercial Products. Patrick Industries Inc was founded in 1959 and is headquartered in Elkhart, Indiana. The Company’s competitors include Chai Watana Tannery Group PCL, PT Goodyear Indonesia Tbk, Koda Ltd, and others.
– Chai Watana Tannery Group PCL ($SET:CWT)
Chai Watana Tannery Group PCL is a publicly traded company with a market capitalization of 1.76B as of 2022. The company’s return on equity is 11.99%. Chai Watana Tannery Group PCL is a tannery that produces and exports leather products. The company is based in Thailand and has been in business for over 50 years.
– PT Goodyear Indonesia Tbk ($IDX:GDYR)
The company’s market capitalization is 533 billion as of 2022, and its return on equity is 3.59%. The company produces and sells tires and other rubber products. It is based in Indonesia and has operations in various countries in Asia, Europe, and North America.
– Koda Ltd ($SGX:BJZ)
Koda Ltd is a market leader in providing innovative software solutions to the energy sector. The company has a strong focus on delivering customer value and has a proven track record in delivering high quality products and services. Koda Ltd has a market capitalisation of $39.05 million as of 2022 and a return on equity of 8.61%. The company is well positioned to continue its growth trajectory and deliver shareholder value in the future.
Summary
Patrick Industries, Inc. is a leading manufacturer and distributor of building products and materials for the Recreational Vehicle, Manufactured Housing and Residential/Remodel industries. Analysts have a bullish outlook on the stock due to the company’s strong balance sheet and long-term growth prospects. Patrick Industries has achieved strong cash flow through expanding its product lines and executing cost control initiatives.
It has also made strategic acquisitions to strengthen its market position and expand its customer base. As the demand for recreational vehicles, manufactured housing and remodeling projects increases with a recovering housing market, Patrick Industries should continue to benefit from its highly competitive position.
