SELL: Patrick Industries (PATK)
From Upside
Updated from WSBI 785, September 21, 2016
We downgraded Patrick Industries (PATK) to Sell. The stock still trades at 19 times trailing earnings—well above the five-year average P/E of 15. In addition, the March 6 announcement of a large stock offering tempered our enthusiasm for the stock.
Richard J. Moroney, CFA, Upside, www.upsidestocks.com, 800-233-5922, April 2017