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Robert W. Baird Keeps a Buy Rating on Patrick Industries (PATK)

Robert W. Baird analyst Craig Kennison maintained a Buy rating on Patrick Industries (PATKResearch Report) on February 10 and set a price target of $104.00. The company’s shares closed last Friday at $68.58.

According to TipRanks.com, Kennison is a 5-star analyst with an average return of 12.4% and a 56.2% success rate. Kennison covers the Consumer Goods sector, focusing on stocks such as MasterCraft Boat Holdings, Winnebago Industries, and OneWater Marine.

Patrick Industries has an analyst consensus of Moderate Buy, with a price target consensus of $110.50, a 61.3% upside from current levels. In a report issued on February 11, C.L. King also maintained a Buy rating on the stock with a $117.00 price target.

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Based on Patrick Industries’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.06 billion and net profit of $57.4 million. In comparison, last year the company earned revenue of $701 million and had a net profit of $37.34 million.

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Patrick Industries, Inc. engages in the manufacture of components products and distribution of building products for industrial markets. It operates through the following segments: Manufacturing and Distribution. The Manufacturing segment includes laminated products what are utilized to produce furniture, shelving, walls, countertops, cabinet products, cabinet doors, fiberglass bat fixtures, hardwood furniture, vinyl printing, solid surface, granite, quartz countertop fabrication, RV painting, fabricated aluminum products, fiberglass and plastic components, softwoods lumber, custom cabinetry, polymer-based flooring, electrical systems components, and other products. The Distribution segment distributes pre-finished wall and ceiling panels, drywall and drywall finishing products, electronics and audio systems components, wiring, electrical and plumbing products, fiber reinforced polyester products, cement siding, interior passage doors, roofing products, laminate and ceramic flooring, shower doors, furniture, fireplaces and surrounds, interior and exterior lightning products, and other miscellaneous products. The company was founded in 1959 and is headquartered in Elkhart, IN.

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