Price Action To Observe: Is Patrick Industries, Inc.’s Fuel For Real? The Stock Just Increased Again

Price Action To Observe: Is Patrick Industries, Inc.'s Fuel For Real? The Stock Just Increased Again

The stock of Patrick Industries, Inc. (NASDAQ:PATK) is a huge mover today! About 252,833 shares traded hands or 141.75% up from the average. Patrick Industries, Inc. (NASDAQ:PATK) has risen 43.23% since April 26, 2016 and is uptrending. It has outperformed by 37.97% the S&P500.
The move comes after 5 months positive chart setup for the $1.07B company. It was reported on Nov, 29 by Barchart.com. We have $75.61 PT which if reached, will make NASDAQ:PATK worth $64.20 million more.

Analysts await Patrick Industries, Inc. (NASDAQ:PATK) to report earnings on February, 16.

Patrick Industries, Inc. (NASDAQ:PATK) Ratings Coverage

Out of 2 analysts covering Patrick Industries (NASDAQ:PATK), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Patrick Industries has been the topic of 3 analyst reports since March 31, 2016 according to StockzIntelligence Inc. Sidoti initiated the shares of PATK in a report on Thursday, June 16 with “Buy” rating. The firm earned “Neutral” rating on Thursday, March 31 by CL King. The stock of Patrick Industries, Inc. (NASDAQ:PATK) has “Buy” rating given on Wednesday, August 17 by CL King.

According to Zacks Investment Research, “PATRICK INDUSTRIES, INC. is a manufacturer and supplier of building products and materials to the manufactured housing and recreational vehicle industries. In addition, they are expanding as a supplier to certain other industrial markets, such as furniture manufacturing, marine and the automotive aftermarket. They manufacture decorative vinyl and paper panels, cabinet doors, countertops, aluminum extrusions, drawer sides and wood adhesives.”

Insitutional Activity: The institutional sentiment decreased to 1.35 in Q2 2016. Its down 0.28, from 1.63 in 2016Q1. The ratio dived, as 12 funds sold all Patrick Industries, Inc. shares owned while 42 reduced positions. 32 funds bought stakes while 56 increased positions. They now own 13.07 million shares or 3.13% more from 12.67 million shares in 2016Q1.
National Bank Of New York Mellon Corp has invested 0% of its portfolio in Patrick Industries, Inc. (NASDAQ:PATK). Loomis Sayles & Limited Partnership holds 0.02% or 140,979 shares in its portfolio. Interest Gp reported 8,356 shares or 0% of all its holdings. Barclays Plc has 42,600 shares for 0% of their US portfolio. Gotham Asset Management Limited Liability Com, a New York-based fund reported 46,618 shares. California Pub Employees Retirement Sys reported 59,850 shares or 0.01% of all its holdings. Psagot Inv House Limited owns 22,200 shares or 0.06% of their US portfolio. Blackrock Grp Inc Inc Ltd accumulated 3,984 shares or 0% of the stock. Grandeur Peak Glob Ltd has invested 0.16% of its portfolio in Patrick Industries, Inc. (NASDAQ:PATK). Envestnet Asset holds 0% of its portfolio in Patrick Industries, Inc. (NASDAQ:PATK) for 14,536 shares. Lord Abbett Com Ltd Llc holds 0.12% of its portfolio in Patrick Industries, Inc. (NASDAQ:PATK) for 612,406 shares. The Wisconsin-based Dana Inv has invested 0.1% in Patrick Industries, Inc. (NASDAQ:PATK). Stifel Financial, a Missouri-based fund reported 145,602 shares. Vanguard Inc accumulated 532,088 shares or 0% of the stock. Alpine Woods Cap Limited Co reported 10,892 shares or 0.04% of all its holdings.

Insider Transactions: Since June 1, 2016, the stock had 0 insider purchases, and 11 selling transactions for $19.27 million net activity. TONTINE CAPITAL PARTNERS L P had sold 29,000 shares worth $1.78 million on Friday, August 12. Forbes John A sold 1,980 shares worth $128,315. NEMETH ANDY L also sold $402,000 worth of Patrick Industries, Inc. (NASDAQ:PATK) shares. On Wednesday, August 3 WELLS WALTER E sold $125,670 worth of the stock or 2,000 shares. GENDELL JEFFREY L ET AL also sold $536,836 worth of Patrick Industries, Inc. (NASDAQ:PATK) shares. Shares for $133,947 were sold by Cerulli Joseph M. On Wednesday, June 29 the insider Cleveland Todd M sold $1.19 million.

More notable recent Patrick Industries, Inc. (NASDAQ:PATK) news were published by: Prnewswire.com which released: “Patrick Industries, Inc. Reports Second Quarter and Six Months 2016 Financial …” on July 28, 2016, also Prnewswire.com with their article: “Patrick Industries, Inc. Announces Officer Promotions” published on September 26, 2016, Prnewswire.com published: “Patrick Industries, Inc. Completes Acquisition of Parkland Plastics, Inc.” on February 29, 2016. More interesting news about Patrick Industries, Inc. (NASDAQ:PATK) were released by: Prnewswire.com and their article: “Patrick Industries, Inc. Completes Acquisition of The Progressive Group” published on March 03, 2016 as well as Prnewswire.com‘s news article titled: “Patrick Industries, Inc. Completes Acquisition of Cana Holdings, Inc.” with publication date: May 23, 2016.

PATK Company Profile

Patrick Industries, Inc. (Patrick), incorporated on January 3, 1961, is a maker of component products and distributor of building products and materials for the recreational vehicle (RV) and manufactured housing (MH) industries. In addition, the Company is a supplier to certain other industrial markets, such as kitchen cabinet, office and household furniture, fixtures and commercial furnishings, marine, and other industrial markets. The Firm operates in two divisions: Manufacturing and Distribution. The Firm makes a range of products, which include decorative vinyl and paper laminated panels, fabricated aluminum products, wrapped vinyl, paper and hardwood profile moldings, solid surface, granite and quartz countertops, cabinet doors and components, hardwood furniture, fiberglass bath and shower fixtures, fiberglass and plastic component products, including front and rear caps and marine helms, slide-out trim and fascia, interior passage doors, RV painting, simulated wood and stone products, and slotwall panels and components, among others.

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