Patrick Industries (PATK) Receives a Hold from Wells Fargo

In a report released today, Tim Conder from Wells Fargo maintained a Hold rating on Patrick Industries (PATKResearch Report). The company’s shares closed last Monday at $59.78, close to its 52-week high of $64.38.

According to TipRanks.com, Conder is a 4-star analyst with an average return of 8.7% and a 61.3% success rate. Conder covers the Consumer Goods sector, focusing on stocks such as Acushnet Holdings, Harley-Davidson, and Malibu Boats.

Patrick Industries has an analyst consensus of Moderate Buy, with a price target consensus of $72.50.

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The company has a one-year high of $64.38 and a one-year low of $32.98. Currently, Patrick Industries has an average volume of 156.1K.

Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PATK in relation to earlier this year.

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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 Manufacturing and Distribution segments.