Roth Capital Equities Analysts Increase Earnings Estimates for Patrick Industries, Inc. (NASDAQ:PATK)

Patrick Industries, Inc. (NASDAQ:PATK) – Research analysts at Roth Capital lifted their FY2025 earnings estimates for shares of Patrick Industries in a research report issued on Monday, May 6th. Roth Capital analyst S. Stember now anticipates that the construction company will post earnings of $10.22 per share for the year, up from their previous estimate of $9.85. The consensus estimate for Patrick Industries’ current full-year earnings is $8.05 per share.

A number of other equities research analysts also recently weighed in on the stock. Roth Mkm reaffirmed a “buy” rating and set a $126.00 price objective (up previously from $120.00) on shares of Patrick Industries in a research report on Monday. StockNews.com downgraded shares of Patrick Industries from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. BMO Capital Markets boosted their price objective on shares of Patrick Industries from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday. Truist Financial reaffirmed a “buy” rating and set a $130.00 price objective on shares of Patrick Industries in a research report on Friday, April 12th. Finally, KeyCorp boosted their price objective on shares of Patrick Industries from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Patrick Industries currently has an average rating of “Moderate Buy” and an average price target of $106.71.

Patrick Industries Price Performance

PATK opened at $113.18 on Tuesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.96 and a current ratio of 2.38. Patrick Industries has a 1-year low of $63.57 and a 1-year high of $123.58. The company has a 50-day moving average of $112.14 and a 200-day moving average of $99.81. The company has a market capitalization of $2.54 billion, a P/E ratio of 16.77 and a beta of 1.73.

Patrick Industries (NASDAQ:PATK) last released its earnings results on Thursday, May 2nd. The construction company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.47. The company had revenue of $933.50 million during the quarter, compared to the consensus estimate of $829.22 million. Patrick Industries had a net margin of 4.22% and a return on equity of 14.90%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.35 EPS.

Institutional Trading of Patrick Industries

Institutional investors have recently made changes to their positions in the stock. US Bancorp DE raised its holdings in shares of Patrick Industries by 1.3% in the 4th quarter. US Bancorp DE now owns 7,669 shares of the construction company’s stock worth $770,000 after purchasing an additional 95 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Patrick Industries by 1.4% in the 4th quarter. SummerHaven Investment Management LLC now owns 8,768 shares of the construction company’s stock worth $880,000 after purchasing an additional 117 shares in the last quarter. FORA Capital LLC raised its holdings in shares of Patrick Industries by 2.9% in the 1st quarter. FORA Capital LLC now owns 4,492 shares of the construction company’s stock worth $537,000 after purchasing an additional 128 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Patrick Industries by 4.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 4,850 shares of the construction company’s stock worth $364,000 after purchasing an additional 199 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its holdings in shares of Patrick Industries by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 18,209 shares of the construction company’s stock worth $2,175,000 after purchasing an additional 236 shares in the last quarter. 93.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Patrick Industries

In other news, insider Kip B. Ellis sold 7,462 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $121.99, for a total value of $910,289.38. Following the completion of the sale, the insider now directly owns 101,316 shares of the company’s stock, valued at approximately $12,359,538.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Kip B. Ellis sold 7,462 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $121.99, for a total value of $910,289.38. Following the completion of the sale, the insider now directly owns 101,316 shares of the company’s stock, valued at approximately $12,359,538.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andy L. Nemeth sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.00, for a total transaction of $590,000.00. Following the completion of the sale, the chief executive officer now directly owns 279,619 shares of the company’s stock, valued at $32,995,042. The disclosure for this sale can be found here. Insiders sold 48,873 shares of company stock valued at $5,681,957 in the last ninety days. Company insiders own 4.70% of the company’s stock.

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.