KeyCorp Lowers Patrick Industries (NASDAQ:PATK) Price Target to $125.00

Key Points

• KeyCorp lowered its price target on Patrick Industries from $140 to $125 but kept an "overweight" rating, implying about a 38.96% upside; consensus analyst target is $128 with seven Buys and two Holds (consensus "Moderate Buy").
• Patrick posted a slight Q1 beat (EPS $1.10 vs. $1.08; revenue ~$997M vs. $989M) but revenue was down 0.6% year-over-year and the stock trades around $89.95, well below its 50- and 200-day moving averages near $112–$114.
• Insider activity was mixed—CAO bought 1,000 shares in February while the COO sold 13,514 shares in March—and institutional ownership is very high at about 93.29%.

Patrick Industries (NASDAQ:PATK - Get Free Report) had its target price dropped by analysts at KeyCorp from $140.00 to $125.00 in a report issued on Friday, Marketbeat reports. The brokerage presently has an "overweight" rating on the construction company's stock. KeyCorp's price objective points to a potential upside of 38.96% from the stock's previous close.

Several other equities research analysts also recently weighed in on PATK. Wall Street Zen downgraded shares of Patrick Industries from a "buy" rating to a "hold" rating in a report on Sunday, April 12th. Benchmark reduced their price target on shares of Patrick Industries from $150.00 to $135.00 and set a "buy" rating for the company in a research note on Friday. Truist Financial set a $126.00 price objective on shares of Patrick Industries in a report on Friday, January 9th. BMO Capital Markets reiterated an "outperform" rating and set a $150.00 price objective (down from $155.00) on shares of Patrick Industries in a research note on Monday, April 20th. Finally, Roth Mkm restated a "buy" rating and issued a $140.00 target price (down from $157.00) on shares of Patrick Industries in a research report on Thursday, April 16th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $128.00.

Patrick Industries Stock Performance

Shares of Patrick Industries stock traded down $3.05 during trading on Friday, hitting $89.95. 26,145 shares of the stock were exchanged, compared to its average volume of 409,803. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.80 and a current ratio of 2.51. Patrick Industries has a 12 month low of $79.22 and a 12 month high of $148.50. The stock's fifty day moving average is $112.42 and its 200 day moving average is $113.82. The stock has a market cap of $2.98 billion, a PE ratio of 23.10 and a beta of 1.35.

Patrick Industries (NASDAQ:PATK - Get Free Report) last posted its earnings results on Thursday, April 30th. The construction company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.08 by $0.02. Patrick Industries had a net margin of 3.42% and a return on equity of 13.28%. The firm had revenue of $997.17 million during the quarter, compared to analyst estimates of $989.06 million. During the same period in the previous year, the business posted $1.11 EPS. Patrick Industries's revenue was down .6% on a year-over-year basis. As a group, sell-side analysts anticipate that Patrick Industries will post 5.37 EPS for the current year.

Insider Activity

In related news, CAO Matthew S. Filer bought 1,000 shares of the business's stock in a transaction on Friday, February 6th. The stock was bought at an average price of $139.91 per share, for a total transaction of $139,910.00. Following the transaction, the chief accounting officer directly owned 20,614 shares in the company, valued at $2,884,104.74. This represents a 5.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Hugo E. Gonzalez sold 13,514 shares of the business's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $113.10, for a total value of $1,528,433.40. Following the completion of the sale, the chief operating officer directly owned 33,864 shares of the company's stock, valued at approximately $3,830,018.40. The trade was a 28.52% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders acquired 11,110 shares of company stock worth $1,289,895 and sold 20,121 shares worth $2,477,337. 3.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Patrick Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hodges Capital Management Inc. bought a new stake in shares of Patrick Industries during the 1st quarter worth $1,955,000. Abel Hall LLC boosted its holdings in shares of Patrick Industries by 37.2% during the 1st quarter. Abel Hall LLC now owns 2,767 shares of the construction company's stock worth $307,000 after buying an additional 750 shares during the period. DGS Capital Management LLC lifted its holdings in shares of Patrick Industries by 24.3% during the first quarter. DGS Capital Management LLC now owns 2,972 shares of the construction company's stock worth $330,000 after buying an additional 581 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of Patrick Industries during the first quarter worth approximately $378,000. Finally, Strs Ohio lifted its holdings in shares of Patrick Industries by 17.1% during the first quarter. Strs Ohio now owns 48,000 shares of the construction company's stock worth $5,331,000 after buying an additional 7,000 shares during the last quarter. 93.29% of the stock is currently owned by institutional investors and hedge funds.

Patrick Industries News Roundup

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

• Positive Sentiment: Q1 EPS topped consensus by a small margin ($1.10 vs. $1.08) and revenue came in slightly above estimates (~$997M vs. $989M), providing a modest fundamental beat that supports near-term earnings expectations. Patrick Industries (PATK) Q1 Earnings Top Estimates
• Positive Sentiment: Company press release and slide deck confirm results, segment performance and management’s prepared commentary — useful for investors who want the official detail behind the numbers. Patrick Industries, Inc. Reports First Quarter 2026 Financial Results
• Neutral Sentiment: Zacks’ deeper metrics piece breaks down key ratios and compares results to estimates and prior-year figures — helpful context but not materially new information beyond the release. Patrick Industries (PATK) Reports Q1 Earnings: What Key Metrics Have to Say
• Neutral Sentiment: Earnings call transcript provides management color on demand trends in the Outdoor Enthusiast and Housing markets and operational initiatives — important for modeling but contained no dramatic guidance change. Patrick Industries, Inc. (PATK) Q1 2026 Earnings Call Transcript
• Neutral Sentiment: Investor presentation/slide deck from the results release outlines segment results and strategic initiatives; useful for longer-term thesis but not a near-term catalyst by itself. Patrick Industries, Inc. 2026 Q1 - Results - Earnings Call Presentation
• Neutral Sentiment: Local news snapshot recaps the quarter and highlights the company’s market positioning — helpful background for retail investors but no new financial surprises. Patrick Industries: Q1 Earnings Snapshot
• Negative Sentiment: Coverage flags “flat” results and ongoing merger-talk headlines; combined with a slight YoY revenue decline and modest net margins, this creates uncertainty and may pressure the stock until clarity on M&A or a stronger growth signal emerges. Patrick Industries Reports Flat Q1 Results Amid Merger Talks

About Patrick Industries

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.

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