Roth Capital Forecasts Lower Earnings for Patrick Industries

Patrick Industries, Inc. (NASDAQ:PATK) – Equities researchers at Roth Capital reduced their FY2026 earnings estimates for Patrick Industries in a research report issued on Friday, November 1st. Roth Capital analyst S. Stember now expects that the construction company will post earnings per share of $9.79 for the year, down from their prior estimate of $9.89. The consensus estimate for Patrick Industries’ current full-year earnings is $7.21 per share.

Other analysts have also issued reports about the stock. Robert W. Baird raised their price objective on shares of Patrick Industries from $120.00 to $128.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Benchmark restated a “buy” rating and issued a $145.00 price objective on shares of Patrick Industries in a report on Tuesday, September 17th. Raymond James lowered their price objective on Patrick Industries from $160.00 to $136.00 and set an “outperform” rating on the stock in a research report on Friday. BMO Capital Markets lifted their target price on Patrick Industries from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday. Finally, DA Davidson upped their price target on Patrick Industries from $108.00 to $114.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Patrick Industries currently has an average rating of “Moderate Buy” and a consensus price target of $139.88.

Patrick Industries Price Performance

PATK opened at $115.77 on Monday. The firm has a market cap of $2.59 billion, a PE ratio of 16.63, a P/E/G ratio of 1.19 and a beta of 1.62. The stock has a 50-day moving average price of $136.64 and a 200-day moving average price of $121.84. Patrick Industries has a 1 year low of $75.01 and a 1 year high of $148.35. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.41 and a quick ratio of 0.94.

Patrick Industries (NASDAQ:PATK) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.03). Patrick Industries had a net margin of 4.24% and a return on equity of 14.84%. The company had revenue of $919.44 million for the quarter, compared to analysts’ expectations of $935.75 million. During the same quarter in the previous year, the firm posted $1.81 EPS. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Boston Partners purchased a new position in Patrick Industries during the first quarter valued at approximately $1,645,000. Allspring Global Investments Holdings LLC raised its position in shares of Patrick Industries by 35.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 97,414 shares of the construction company’s stock valued at $13,869,000 after purchasing an additional 25,556 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Patrick Industries by 10.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 276,870 shares of the construction company’s stock valued at $33,078,000 after buying an additional 26,389 shares in the last quarter. Argent Capital Management LLC boosted its holdings in Patrick Industries by 758.4% in the 3rd quarter. Argent Capital Management LLC now owns 151,004 shares of the construction company’s stock worth $21,498,000 after buying an additional 133,413 shares during the period. Finally, Public Sector Pension Investment Board increased its stake in Patrick Industries by 8.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 46,353 shares of the construction company’s stock worth $5,032,000 after buying an additional 3,705 shares in the last quarter. 93.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Patrick Industries

In other Patrick Industries news, insider Jeff Rodino sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $131.37, for a total transaction of $2,627,400.00. Following the completion of the sale, the insider now directly owns 139,109 shares in the company, valued at $18,274,749.33. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Todd M. Cleveland sold 7,500 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $131.05, for a total value of $982,875.00. Following the transaction, the director now directly owns 82,374 shares of the company’s stock, valued at approximately $10,795,112.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeff Rodino sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $131.37, for a total value of $2,627,400.00. Following the sale, the insider now directly owns 139,109 shares of the company’s stock, valued at $18,274,749.33. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,411 shares of company stock valued at $3,858,915. 4.70% of the stock is owned by company insiders.

Patrick Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Monday, August 26th. Patrick Industries’s dividend payout ratio (DPR) is presently 31.61%.

About Patrick Industries

Patrick Industries, Inc manufactures and distributes component products and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States, Mexico, China, and Canada. Its Manufacturing segment manufactures and sells laminated products for furniture, shelving, wall, countertop, and cabinet products; cabinet doors, fiberglass bath fixtures, and tile systems; hardwood furniture, vinyl printing, amplifiers, tower speakers, soundbars, and subwoofers; solid surface, granite, and quartz countertop fabrication; aluminum products; fiberglass and plastic components; RV paintings; decorative vinyl and paper laminated panels; softwoods lumber; custom cabinets; polymer-based flooring products; dash panels; and other products.