Patrick Industries: Expectations Run A Bit Hot After Its Biggest M&A Deal [Seeking Alpha]
Patrick Industries, Inc. (PATK)
Last patrick industries, inc. earnings: 4/30 08:00 am
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US:NASDAQ Investor Relations:
phx.corporate-ir.net/phoenix.zhtml?c=93682&p=irol-irhome
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Source: Seeking Alpha
However, the company faced a challenging year in 2023, with sales declining significantly due to market conditions, inflationary pressures and higher interest rates. Patrick Industries made a substantial acquisition of Sportech LLC for $315 million, expecting it to be accretive to profit margins and earnings per share. While no big recovery is expected in 2024, investors are pleased to see stability from here onwards. At the start of this year, I called Patrick Industries, Inc. ( NASDAQ: PATK a good player with investors pricing in a recovery in 2024. This came after shares re-tested all-time-highs around $100 per share, driven by its long-term success in RVs, manufactured homes and marine industries, even as 2023 was a tougher year. Despite a move lower in interest rates, no big recovery is expected in 2024, yet stabilization is enough for investors here, as that is needed together with cash flow generation to pay down debt after another recent acquisition, in fact its bigge
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PATK
News
- Patrick Industries, Inc. (NASDAQ: PATK) had its price target raised by analysts at BMO Capital Markets from $120.00 to $125.00. They now have an "outperform" rating on the stock.MarketBeat
- ROCKFORD FOSGATE® IS OFFICIAL MOTORCYCLE AUDIO PARTNER OF HARLEY-DAVIDSON MUSEUM [Yahoo! Finance]Yahoo! Finance
- ROCKFORD FOSGATE® IS OFFICIAL MOTORCYCLE AUDIO PARTNER OF HARLEY-DAVIDSON MUSEUMPR Newswire
- Patrick Industries, Inc. Reports First Quarter 2024 Financial Results [Yahoo! Finance]Yahoo! Finance
- Patrick Industries, Inc. Reports First Quarter 2024 Financial ResultsPR Newswire
PATK
Earnings
- 5/2/24 - Beat
PATK
Sec Filings
- 5/2/24 - Form 8-K
- 4/1/24 - Form ARS
- 4/1/24 - Form DEFA14A
- PATK's page on the SEC website