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MARKETS LIVE BLOG:

STOCKS SURGE AFTER SOFT U.S. JOBS PRINT, SOLID APPLE RESULTS

Employers add 175,000 jobs in April; unemployment rate unexpectedly jumps to 3.9%

Is Patrick Industries (PATK) a Great Value Stock Right Now?

Zacks Equity Research
·2 min read

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

One stock to keep an eye on is Patrick Industries (PATK). PATK is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock has a Forward P/E ratio of 12.50. This compares to its industry's average Forward P/E of 16.85. Over the past year, PATK's Forward P/E has been as high as 15.49 and as low as 8.06, with a median of 10.61.

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Finally, investors should note that PATK has a P/CF ratio of 7.97. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. PATK's current P/CF looks attractive when compared to its industry's average P/CF of 12.96. PATK's P/CF has been as high as 9.29 and as low as 3.79, with a median of 5.86, all within the past year.

These are only a few of the key metrics included in Patrick Industries's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, PATK looks like an impressive value stock at the moment.

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Patrick Industries, Inc. (PATK) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research