Patrick Industries, Inc. (NASDAQ:PATK) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Patrick Industries, Inc. (NASDAQ:PATK) have been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $122.6250.

Several equities research analysts have recently commented on PATK shares. Weiss Ratings upgraded shares of Patrick Industries from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Raymond James Financial set a $108.00 price target on shares of Patrick Industries in a research report on Friday, May 1st. KeyCorp lowered their price target on shares of Patrick Industries from $140.00 to $125.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Roth Mkm set a $128.00 price target on shares of Patrick Industries in a research report on Tuesday. Finally, Wall Street Zen cut shares of Patrick Industries from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th.

Patrick Industries Stock Up 6.5%

Shares of NASDAQ:PATK opened at $95.90 on Thursday. Patrick Industries has a one year low of $80.35 and a one year high of $148.50. The company has a 50 day moving average of $110.81 and a 200-day moving average of $113.96. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.71 and a quick ratio of 1.04. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 24.59 and a beta of 1.12.

Patrick Industries (NASDAQ:PATK) last issued its quarterly earnings results on Thursday, April 30th. The construction company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.08 by $0.02. Patrick Industries had a net margin of 3.46% and a return on equity of 13.24%. The company had revenue of $997.17 million during the quarter, compared to analysts’ expectations of $989.06 million. During the same quarter in the previous year, the company earned $1.11 EPS. Patrick Industries’s revenue was down .6% on a year-over-year basis. On average, sell-side analysts forecast that Patrick Industries will post 4.94 earnings per share for the current year.

Trending Headlines about Patrick Industries

Here are the key news stories impacting Patrick Industries this week:

• Positive Sentiment: Several senior insiders executed coordinated buys (CEO Andy Nemeth, director M. Scott Welch, RV president Charles Roeder, CFO Matthew Filer and director Blake Augsburger) on May 5–6, signaling management confidence in the company’s near?term outlook; filings show material increases in ownership. Insider Cluster Buying
• Positive Sentiment: Individual Form 4 filings confirm the purchases (useful for verification): CEO Andy Nemeth, Director M. Scott Welch, President — RV Charles Roeder, CFO Matthew Filer and Director Blake Augsburger. Filings: Nemeth Form 4 Welch Form 4 Roeder Form 4 Filer Form 4 Augsburger Form 4
• Positive Sentiment: Analyst coverage remains constructive — a recent consensus note labels PATK a “Moderate Buy,” and recent price targets sit well above current levels, providing additional support for buyers. Analyst Consensus
• Neutral Sentiment: Fundamentals: Q1 revenue edged down ~0.6% year?over?year while EPS roughly matched estimates — mixed operational signals that make insider buying more notable but do not eliminate cyclical risk.
• Neutral Sentiment: Institutional flows are mixed: some large managers trimmed positions last quarter while others added shares, so ownership changes could amplify volatility but aren’t a clear directional signal. Institutional Activity
• Negative Sentiment: Significant prior reductions by some large funds (e.g., FMR, Macquarie, T. Rowe) highlight lingering position?sizing concerns among major holders and represent potential selling pressure if sentiment weakens. Hedge Fund Moves

Insider Activity at Patrick Industries

In other news, CFO Matthew S. Filer acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was purchased at an average price of $85.50 per share, for a total transaction of $85,500.00. Following the completion of the acquisition, the chief financial officer owned 21,614 shares in the company, valued at $1,847,997. This trade represents a 4.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Blake Augsburger acquired 400 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were purchased at an average price of $85.19 per share, with a total value of $34,076.00. Following the acquisition, the director owned 2,125 shares of the company’s stock, valued at approximately $181,028.75. This trade represents a 23.19% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have acquired 38,310 shares of company stock worth $3,681,205 and have sold 20,121 shares worth $2,477,337. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Torren Management LLC acquired a new position in Patrick Industries during the fourth quarter valued at approximately $26,000. Advisory Services Network LLC acquired a new position in Patrick Industries during the third quarter valued at approximately $25,000. Salomon & Ludwin LLC acquired a new position in Patrick Industries during the third quarter valued at approximately $25,000. Cornerstone Planning Group LLC acquired a new position in Patrick Industries during the third quarter valued at approximately $31,000. Finally, Allworth Financial LP grew its holdings in Patrick Industries by 181.3% during the fourth quarter. Allworth Financial LP now owns 315 shares of the construction company’s stock valued at $34,000 after purchasing an additional 203 shares during the period. Institutional investors and hedge funds own 93.29% of the company’s stock.

Patrick Industries Company Profile

Patrick Industries, Inc is a leading manufacturer and distributor of component products and building materials for the recreational vehicle (RV), manufactured housing, marine and industrial markets. The company supplies a broad array of interior and exterior products, including cabinetry, countertops, flooring, wall panels and decorative trim. Patrick Industries also offers engineered composites, adhesives, sealants and insulation solutions that cater to both original equipment manufacturers (OEMs) and aftermarket customers across North America.

Founded in 1959 and headquartered in Elkhart, Indiana, Patrick Industries began as a small distributor of hardwood and millwork products.