Patrick Industries Stock Technical Analysis
| PATK Stock | USD 105.60 1.50 1.40% |
As of the 16th of April 2024, Patrick Industries holds the Risk Adjusted Performance of 0.0519, semi deviation of 1.95, and Coefficient Of Variation of 1382.99. Compared to fundamental indicators, the technical analysis model allows you to check existing technical drivers of Patrick Industries, as well as the relationship between them. Put it differently, you can use this information to find out if the company will indeed mirror its model of past market data, or the prices will eventually revert. We were able to interpolate and analyze data for nineteen technical drivers for Patrick Industries, which can be compared to its competitors. Please check Patrick Industries jensen alpha and downside variance to decide if Patrick Industries is priced some-what accurately, providing market reflects its current price of 105.6 per share. Given that Patrick Industries has jensen alpha of 0.0315, we recommend you to check out Patrick Industries's recent market performance to make sure the company can sustain itself at a future point.
Patrick Industries Momentum Analysis
Momentum indicators are widely used technical indicators which help to measure the pace at which the price of specific equity, such as Patrick, fluctuates. Many momentum indicators also complement each other and can be helpful when the market is rising or falling as compared to PatrickPatrick |
Patrick Industries Analyst Consensus
| Target Price | Advice | # of Analysts | |
| 93.0 | Buy | 8 | Odds |
Most Patrick analysts issue ratings four times a year, at intervals of three months. Ratings are usually accompanied by a target price to helps potential investors understand Patrick stock's fair price compared to its market value. Analysts arrive at stock ratings after researching public financial statements of Patrick Industries, talking to its executives and customers, or listening to Patrick conference calls.
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.
Patrick Industries Technical Analysis
The output start index for this execution was one with a total number of output elements of sixty. The Average True Range was developed by J. Welles Wilder in 1970s. It is one of components of the Welles Wilder Directional Movement indicators. The ATR is a measure of Patrick Industries volatility. High ATR values indicate high volatility, and low values indicate low volatility.
Patrick Industries Trend Analysis
Use this graph to draw trend lines for Patrick Industries. You can use it to identify possible trend reversals for Patrick Industries as well as other signals and approximate when it will take place. Remember, you need at least two touches of the trend line with actual Patrick Industries price movement. To start drawing, click on the pencil icon on top-right. To remove the trend, use eraser icon.Patrick Industries Best Fit Change Line
The following chart estimates an ordinary least squares regression model for Patrick Industries applied against its price change over selected period. The best fit line has a slop of 0.23 , which means Patrick Industries will continue generating value for investors. It has 122 observation points and a regression sum of squares at 1925.93, which is the sum of squared deviations for the predicted Patrick Industries price change compared to its average price change.About Patrick Industries Technical Analysis
The technical analysis module can be used to analyzes prices, returns, volume, basic money flow, and other market information and help investors to determine the real value of Patrick Industries on a daily or weekly bases. We use both bottom-up as well as top-down valuation methodologies to arrive at the intrinsic value of Patrick Industries based on its technical analysis. In general, a bottom-up approach, as applied to this company, focuses on Patrick Industries price pattern first instead of the macroeconomic environment surrounding Patrick Industries. By analyzing Patrick Industries's financials, daily price indicators, and related drivers such as dividends, momentum ratios, and various types of growth rates, we attempt to find the most accurate representation of Patrick Industries's intrinsic value. As compared to a bottom-up approach, our top-down model examines the macroeconomic factors that affect the industry/economy before zooming in to Patrick Industries specific price patterns or momentum indicators. Please read more on our technical analysis page.
| 2021 | 2022 | 2024 (projected) | Dividend Yield | 0.0147 | 0.0245 | 0.0123 | Price To Sales Ratio | 0.45 | 0.27 | 0.65 |
Patrick Industries April 16, 2024 Technical Indicators
Most technical analysis of Patrick help investors determine whether a current trend will continue and, if not, when it will shift. We provide a combination of tools to recognize potential entry and exit points for Patrick from various momentum indicators to cycle indicators. When you analyze Patrick charts, please remember that the event formation may indicate an entry point for a short seller, and look at different other indicators across different periods to confirm that a breakdown or reversion is likely to occur.
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| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
| Risk Adjusted Performance | 0.0519 | |||
| Market Risk Adjusted Performance | 0.0813 | |||
| Mean Deviation | 1.41 | |||
| Semi Deviation | 1.95 | |||
| Downside Deviation | 2.06 | |||
| Coefficient Of Variation | 1382.99 | |||
| Standard Deviation | 1.8 | |||
| Variance | 3.26 | |||
| Information Ratio | 0.0376 | |||
| Jensen Alpha | 0.0315 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | 0.0329 | |||
| Treynor Ratio | 0.0713 | |||
| Maximum Drawdown | 9.36 | |||
| Value At Risk | (2.67) | |||
| Potential Upside | 2.19 | |||
| Downside Variance | 4.25 | |||
| Semi Variance | 3.82 | |||
| Expected Short fall | (1.38) | |||
| Skewness | (0.73) | |||
| Kurtosis | 0.9317 |
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Patrick Industries. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in estimate. For more information on how to buy Patrick Stock please use our How to buy in Patrick Stock guide.You can also try the Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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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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.