Patrick Industries Stock Market Value
| PATK Stock | USD 105.54 2.14 2.07% |
| Symbol | Patrick |
Patrick Industries Price To Book Ratio
Is Patrick Industries' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Patrick Industries. If investors know Patrick will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Patrick Industries listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.16) | Dividend Share 1.9 | Earnings Share 6.5 | Revenue Per Share 161.162 | Quarterly Revenue Growth (0.18) |
The market value of Patrick Industries is measured differently than its book value, which is the value of Patrick that is recorded on the company's balance sheet. Investors also form their own opinion of Patrick Industries' value that differs from its market value or its book value, called intrinsic value, which is Patrick Industries' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Patrick Industries' market value can be influenced by many factors that don't directly affect Patrick Industries' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Patrick Industries' value and its price as these two are different measures arrived at by different means. Investors typically determine if Patrick Industries is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Patrick Industries' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Patrick Industries 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Patrick Industries' stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Patrick Industries.
| 03/24/2024 |
| 04/23/2024 |
If you would invest 0.00 in Patrick Industries on March 24, 2024 and sell it all today you would earn a total of 0.00 from holding Patrick Industries or generate 0.0% return on investment in Patrick Industries over 30 days. Patrick Industries is related to or competes with La Z, Natuzzi SpA, Mohawk Industries, MasterBrand, Bassett Furniture, Flexsteel Industries, and Hamilton Beach. Patrick Industries, Inc. manufactures and distributes components, building products, and materials for the recreational ... More
Patrick Industries Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Patrick Industries' stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Patrick Industries upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.02 | |||
| Information Ratio | 0.0393 | |||
| Maximum Drawdown | 9.36 | |||
| Value At Risk | (2.67) | |||
| Potential Upside | 2.19 |
Patrick Industries Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Patrick Industries' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Patrick Industries' standard deviation. In reality, there are many statistical measures that can use Patrick Industries historical prices to predict the future Patrick Industries' volatility.| Risk Adjusted Performance | 0.0599 | |||
| Jensen Alpha | 0.0171 | |||
| Total Risk Alpha | (0.07) | |||
| Sortino Ratio | 0.0347 | |||
| Treynor Ratio | 0.0854 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Patrick Industries' price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Patrick Industries Backtested Returns
We consider Patrick Industries very steady. Patrick Industries maintains Sharpe Ratio (i.e., Efficiency) of 0.0651, which implies the firm had a 0.0651% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Patrick Industries, which you can use to evaluate the volatility of the company. Please check Patrick Industries' Coefficient Of Variation of 1146.28, semi deviation of 1.87, and Risk Adjusted Performance of 0.0599 to confirm if the risk estimate we provide is consistent with the expected return of 0.12%. Patrick Industries has a performance score of 5 on a scale of 0 to 100. The company holds a Beta of 1.7, which implies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Patrick Industries will likely underperform. Patrick Industries right now holds a risk of 1.81%. Please check Patrick Industries downside variance, as well as the relationship between the accumulation distribution and price action indicator , to decide if Patrick Industries will be following its historical price patterns.
Auto-correlation | 0.17 |
Very weak predictability
Patrick Industries has very weak predictability. Overlapping area represents the amount of predictability between Patrick Industries time series from 24th of March 2024 to 8th of April 2024 and 8th of April 2024 to 23rd of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Patrick Industries price movement. The serial correlation of 0.17 indicates that over 17.0% of current Patrick Industries price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.17 | |
| Spearman Rank Test | 0.38 | |
| Residual Average | 0.0 | |
| Price Variance | 16.88 |
Patrick Industries lagged returns against current returns
Autocorrelation, which is Patrick Industries stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Patrick Industries' stock expected returns. We can calculate the autocorrelation of Patrick Industries returns to help us make a trade decision. For example, suppose you find that Patrick Industries has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Patrick Industries regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Patrick Industries stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Patrick Industries stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Patrick Industries stock over time.
Current vs Lagged Prices |
| Timeline |
Patrick Industries Lagged Returns
When evaluating Patrick Industries' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Patrick Industries stock have on its future price. Patrick Industries autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Patrick Industries autocorrelation shows the relationship between Patrick Industries stock current value and its past values and can show if there is a momentum factor associated with investing in Patrick Industries.
Regressed Prices |
| Timeline |
Patrick Industries Investors Sentiment
The influence of Patrick Industries' investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Patrick. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Patrick Industries' public news can be used to forecast risks associated with an investment in Patrick. The trend in average sentiment can be used to explain how an investor holding Patrick can time the market purely based on public headlines and social activities around Patrick Industries. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Patrick Industries' market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Patrick Industries' and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Patrick Industries' news discussions. The higher the estimated score, the more favorable is the investor's outlook on Patrick Industries.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Patrick Industries in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Patrick Industries' short interest history, or implied volatility extrapolated from Patrick Industries options trading.
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Check out Patrick Industries Correlation, Patrick Industries Volatility and Patrick Industries Alpha and Beta module to complement your research on Patrick Industries. For more information on how to buy Patrick Stock please use our How to buy in Patrick Stock guide.You can also try the Equity Valuation module to check real value of public entities based on technical and fundamental data.
Complementary Tools for Patrick Stock analysis
When running Patrick Industries' price analysis, check to measure Patrick Industries' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Patrick Industries is operating at the current time. Most of Patrick Industries' value examination focuses on studying past and present price action to predict the probability of Patrick Industries' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Patrick Industries' price. Additionally, you may evaluate how the addition of Patrick Industries to your portfolios can decrease your overall portfolio volatility.
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Patrick Industries technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.