Patrick Industries, Inc. stock trades under the ticker PATK & has shown recent bullishness that traders & investors should research further into.
PATK stock closed at $68.59/share on 4/3/2023.
Patrick Industries, Inc. PATK Stock’s Technical Performance Broken Down
PATK Stock Price: $68.59
10 Day Moving Average: $67.43
50 Day Moving Average: $70.78
200 Day Moving Average: $57.81
RSI: 48.8
MACD: -0.885
Yesterday, PATK stock completed a bullish MACD crossover, losing -0.32% on the day’s session.
Their RSI is neutral, with recent trading volumes being lighter than average compared to the year prior, signaling uncertainty by the market as to where to price them.
PATK has support at the $67.43 (10 day moving average), $66.83 & $64.89/share price levels, with resistance at the $67.76, $70.78 (50 day moving average) & $70.99/share price levels.
Patrick Industries, Inc. PATK Stock As A Long-Term Investment
Long-term oriented investors will like PATK stock’s 4.95 P/E (ttm), as well as their 1.57 P/B (mrq).
Their recently reported growth metrics will require a more thorough examination, with -17% Quarterly Revenue Growth Y-o-Y & -34.2% Quarterly Earnings Growth Y-o-Y.
Their balance sheet will also require a more thorough examination, with $22.85M of Total Cash (mrq) & $1.45B of Total Debt (mrq).
PATK stock pays a 2.09% dividend, which appears to be sustainable in the long-run, as their payout ratio is 10.67%.
96.86% of PATK stock’s outstanding share float is owned by institutional investors.
Patrick Industries, Inc. PATK Stock As A Short-Term Trade Using Options
Traders with shorter time horizons can trade options to profit from PATK stock’s price movements, while protecting their portfolios from volatility.
I am looking at the contracts with the 5/19 expiration date.
The $55, $65 & $60 call options are all in-the-money, listed from highest to lowest level of open interest.
The $70 & $75 puts are also all in-the-money, with the former being more liquid than the latter strike.
Tying It All Together
PATK stock has many interesting attributes that traders & investors will find appealing.
Investors will like their valuation metrics & sustainable dividend yield, but may want to look deeper into recent growth trouble & their balance sheet.
Traders will like their recent technical performance, but may be disappointed by how liquid their options are.
Overall, it is worth taking a closer look into PATK stock to see how it fits into your portfolio strategy.
*** I DO NOT OWN SHARES OR OPTIONS CONTRACT POSITIONS IN PATK STOCK AT THE TIME OF PUBLISHING THIS ARTICLE ***