Company profile

Ticker
PATK
Exchange
CEO
Andy L. Nemeth
Employees
Incorporated in
Location
Fiscal year end
SEC CIK
IRS number
351057796

PATK stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

7 May 20
6 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 589.23M 549.46M 566.19M 613.22M
Net income 21.19M 19.98M 21.32M 27.42M
Diluted EPS 0.91 0.86 0.92 1.18
Net profit margin 3.60% 3.64% 3.77% 4.47%
Operating income 39.28M 35.98M 37.41M 45.23M
Net change in cash -44.87M 22.68M 93.14M 15.12M
Cash on hand 94.52M 139.39M 116.71M 23.57M
Cost of revenue 479.75M 450.13M 461.85M 500.56M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 2.34B 2.26B 1.64B 1.22B
Net income 89.57M 119.83M 85.72M 55.58M
Diluted EPS 3.85 4.93 3.48 2.43
Net profit margin 3.83% 5.30% 5.24% 4.55%
Operating income 154.44M 178.42M 121.9M 90.84M
Net change in cash 132.5M 4.13M -3.68M 6.36M
Cash on hand 139.39M 6.9M 2.77M 6.45M
Cost of revenue 1.91B 1.85B 1.36B 1.02B

Financial data from company earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
23 Jun 20 Cleveland Todd M Common Stock Sell Dispose S Yes 61.1582 1,650 100.91K 315,500
23 Jun 20 Cleveland Todd M Common Stock Sell Dispose S Yes 61.1582 1,650 100.91K 297,730
17 Jun 20 Cleveland Todd M Common Stock Sell Dispose S Yes 60.1212 8,350 502.01K 317,150
17 Jun 20 Cleveland Todd M Common Stock Sell Dispose S Yes 60.1212 8,350 502.01K 299,380
12 Jun 20 Boone Joshua A Common Stock Sale back to company Dispose D No 0 46,675 0 0
12 Jun 20 Boone Joshua A Common Stock Sell Dispose S No 54.85 100 5.49K 46,675
12 Jun 20 Boone Joshua A Common Stock Sell Dispose S No 54.8833 278 15.26K 46,775
8 Jun 20 Boone Joshua A Common Stock Payment of exercise Dispose F No 62.37 143 8.92K 47,053
8 Jun 20 Boone Joshua A Common Stock Sale back to company Dispose D No 62.37 5,449 339.85K 47,196
8 Jun 20 Boone Joshua A Common Stock Option exercise Aquire M No 60.03 2,985 179.19K 52,645
13F holders
Current Prev Q Change
Total holders 172 193 -10.9%
Opened positions 26 29 -10.3%
Closed positions 47 34 +38.2%
Increased positions 52 61 -14.8%
Reduced positions 60 78 -23.1%
13F shares
Current Prev Q Change
Total value 2.72B 3.09B -11.8%
Total shares 20.72M 21.94M -5.6%
Total puts 100 0 NEW
Total calls 100 20.3K -99.5%
Total put/call ratio 1.0
Largest owners
Shares Value Change
BLK BlackRock 3.25M $91.48M -2.8%
Wellington Management 1.62M $45.51M -5.5%
Vanguard 1.46M $41M -0.1%
Dimensional Fund Advisors 1.19M $33.44M -1.6%
N Price T Rowe Associates 871.32K $24.54M +1.5%
RY Royal Bank of Canada 764.98K $21.54M -9.6%
FMR 717.07K $20.19M +72.3%
STT State Street 671.36K $18.91M +3.7%
JPM JPMorgan Chase & Co. 609.97K $17.18M -13.1%
GS The Goldman Sachs Group, Inc. 560.31K $15.78M -11.7%
Largest transactions
Shares Bought/sold Change
Capital Research Global Investors 418.3K +418.3K NEW
Norges Bank 0 -306.88K EXIT
FMR 717.07K +300.8K +72.3%
Gendell Jeffrey L 442.17K -273.39K -38.2%
SF Stifel Financial 11.54K -214.32K -94.9%
Ziegler Capital Management 195.39K +195.39K NEW
BAC Bank of America 97.33K -183.14K -65.3%
WFC Wells Fargo & Co. 278.9K -129.49K -31.7%
Panagora Asset Management 561 -112.65K -99.5%
BMO Bank Of Montreal 134.25K +110.8K +472.6%

Financial report summary

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Risks
  • Economic and business conditions beyond Patrick's control, including cyclicality and seasonality in the industries it sells products, could lead to fluctuations in and negatively impact operating results.
  • If the financial condition of our customers and suppliers deteriorate, our business and operating results could suffer.
  • Changes in consumer preferences relating to our products could adversely impact our sales levels and our operating results.
  • A significant percentage of the Company’s sales are concentrated in the RV industry, and declines in the level of RV unit shipments or reductions in industry growth could reduce demand for our products and adversely impact our operating results and financial condition.
  • The RV, MH, marine and industrial industries are highly competitive and some of our competitors may have greater resources than we do.
  • Conditions in the credit market could limit the ability of consumers and wholesale customers to obtain retail and wholesale financing for RVs, manufactured homes, and marine products, resulting in reduced demand for our products.
  • The manufactured housing industry has experienced a significant long-term decline in shipments, which has led to reduced demand for our products.
  • Fuel shortages or high prices for fuel could have an adverse impact on our operations.
  • If we cannot effectively manage the challenges and risks associated with doing business internationally, our revenues and profitability may suffer.
  • We are dependent on third-party suppliers and manufacturers and any increased cost and limited availability of certain raw materials may have a material adverse effect on our business and results of operations.
  • If we are unable to manage our inventory, our operating results could be materially and adversely affected.
  • We could incur charges for impairment of assets, including goodwill and other long-lived assets, due to potential declines in the fair value of those assets or a decline in expected profitability of the Company or individual reporting units of the Company.
  • We may incur significant charges or be adversely impacted by the consolidation and/or closure of all or part of a manufacturing or distribution facility.
  • We are subject to governmental and environmental regulations, and failure in our compliance efforts, changes to such laws and regulations or events beyond our control could result in damages, expenses or liabilities that individually, or in the aggregate, would have a material adverse effect on our financial condition and results of operations.
  • The inability to attract and retain qualified executive officers and key personnel may adversely affect our operations.
  • Our ability to integrate acquired businesses may adversely affect operations.
  • Our level of indebtedness could limit our operational flexibility and harm our financial condition and results of operations.
  • Our 2019 Credit Agreement contains various financial performance and other covenants. If we do not remain in compliance with these covenants, our 2019 Credit Agreement could be terminated and the amounts outstanding thereunder could become immediately due and payable.
  • Due to industry conditions and our operating results, there have been times in the past when we have had limited access to sources of capital. If we are unable to locate suitable sources of capital when needed, we may be unable to maintain or expand our business.
  • The conditional conversion feature of the Convertible Notes that we issued in January 2018, if triggered, may adversely affect our financial condition and operating results.
  • The convertible note hedge and warrant transactions may affect the value of the Convertible Notes and our common stock.
  • A variety of factors, many of which are beyond our control, could influence fluctuations in the market price for our common stock.
  • If our information technology systems fail to perform adequately, our operations could be disrupted and could adversely affect our business, reputation and results of operations.
  • A cyber incident or data breach could result in information theft, data corruption, operational disruption, and/or financial loss.
  • We are required to evaluate our internal controls over financial reporting under Section 404 of the Sarbanes-Oxley Act of 2002 and any adverse results from such evaluation could result in a loss of investor confidence in our financial reports and could have an adverse effect on our stock price.
  • Certain provisions in our Articles of Incorporation and Amended and Restated By-laws may delay, defer or prevent a change in control that our shareholders each might consider to be in their best interest.
  • Conditions within the insurance markets could impact our ability to negotiate favorable terms and conditions for various liability coverage and could potentially result in uninsured losses.
Management Discussion
  • The RV industry is our primary market and comprised 55% and 56% of the Company’s sales in the first quarter ended March 29, 2020 and March 31, 2019, respectively. Sales to the RV industry decreased 6% in the first quarter of 2020 compared to the prior year quarter.
  • According to the Recreation Vehicle Industry Association, wholesale shipments totaled 100,404 units in the first quarter of 2020, and were virtually flat compared to 99,976 units in the first quarter of 2019. Retail unit sales in the first quarter of 2020 are estimated to have increased slightly despite the disruption to consumers related to COVID-19. Additionally, based on our estimates, RV dealer inventories at the end of the first quarter of 2020 were at their lowest level since 2014.
  • Sales to the marine industry, which represented approximately 13% and 15% of the Company's consolidated net sales in the first quarter of 2020 and 2019, respectively, decreased 14% compared to the prior year quarter.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
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Readability
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