Patrick Industries (NASDAQ:PATK) Cut to Strong Sell at Zacks Research

Patrick Industries (NASDAQ:PATK - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other equities analysts have also recently commented on the company. Roth Mkm set a $128.00 price target on Patrick Industries in a report on Tuesday. Weiss Ratings raised Patrick Industries from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday, February 23rd. Wall Street Zen cut Patrick Industries from a "buy" rating to a "hold" rating in a report on Sunday, April 12th. KeyCorp decreased their price target on Patrick Industries from $140.00 to $125.00 and set an "overweight" rating on the stock in a research report on Friday, May 1st. Finally, Raymond James Financial set a $108.00 price objective on Patrick Industries in a research report on Friday, May 1st. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $122.63.

Patrick Industries Price Performance

NASDAQ PATK opened at $95.90 on Tuesday. Patrick Industries has a twelve month low of $80.35 and a twelve month high of $148.50. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.04 and a current ratio of 2.71. The stock has a market capitalization of $3.18 billion, a PE ratio of 24.59 and a beta of 1.12. The stock has a 50-day simple moving average of $110.81 and a 200 day simple moving average of $113.96.

Patrick Industries (NASDAQ:PATK - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.02. The business had revenue of $997.17 million during the quarter, compared to analysts' expectations of $989.06 million. Patrick Industries had a return on equity of 13.24% and a net margin of 3.46%.The firm's revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.11 EPS. Research analysts anticipate that Patrick Industries will post 4.94 EPS for the current year.

Insider Buying and Selling at Patrick Industries

In other Patrick Industries news, Director M Scott Welch acquired 10,050 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The shares were acquired at an average price of $88.23 per share, with a total value of $886,711.50. Following the purchase, the director owned 156,000 shares of the company's stock, valued at $13,763,880. This represents a 6.89% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Blake Augsburger acquired 400 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The shares were acquired at an average cost of $85.19 per share, for a total transaction of $34,076.00. Following the purchase, the director directly owned 2,125 shares in the company, valued at $181,028.75. This trade represents a 23.19% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 38,310 shares of company stock worth $3,681,205 and have sold 20,121 shares worth $2,477,337. 3.80% of the stock is owned by corporate insiders.

Institutional Trading of Patrick Industries

Hedge funds have recently added to or reduced their stakes in the business. Advisory Services Network LLC acquired a new stake in shares of Patrick Industries in the 3rd quarter valued at about $25,000. Torren Management LLC acquired a new stake in shares of Patrick Industries in the 4th quarter valued at about $26,000. Cornerstone Planning Group LLC bought a new position in shares of Patrick Industries during the third quarter worth about $31,000. Allworth Financial LP grew its holdings in shares of Patrick Industries by 181.3% during the fourth quarter. Allworth Financial LP now owns 315 shares of the construction company's stock worth $34,000 after buying an additional 203 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Patrick Industries by 200.9% during the fourth quarter. Farther Finance Advisors LLC now owns 343 shares of the construction company's stock worth $37,000 after buying an additional 229 shares in the last quarter. Institutional investors and hedge funds own 93.29% of the company's stock.

Trending Headlines about Patrick Industries

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

• Positive Sentiment: Large coordinated insider buying — insiders bought roughly $2.3M+ of stock last week, led by CEO Andy Nemeth (10,000 shares, ~$880k), director M. Scott Welch (10,050 shares, ~$887k) and Charles R. Roeder (President - RV; 5,750 shares, ~$505k). Market reaction appears driven by this show of leadership conviction in the company’s outlook. Quiver Quantitative coverage of insider cluster buying
• Positive Sentiment: Additional insider purchases include CFO Matthew S. Filer (1,000 shares) and director Blake Augsburger (400 shares), reinforcing the buy signal from multiple senior executives. SEC filings for these purchases provide direct confirmation. Filer SEC filing Augsburger SEC filing
• Neutral Sentiment: Analyst context — several firms maintain higher price targets (median ~$137.50 across recent notes), suggesting upside vs. current levels but also reflecting mixed views on cyclicality and near-term revenue trends. This background may support longer-term investor interest but is not the immediate catalyst. Quiver Quantitative analyst target summary
• Negative Sentiment: Offsetting factors — Quiver notes notable insider sales and sizable institutional trimming in recent quarters (e.g., large reductions by FMR, Macquarie, T. Rowe Price), which could keep selling pressure and volatility elevated despite the buy signal. Investors should weigh whether current insider buys represent new conviction or opportunistic accumulation amid broader selling. Quiver Quantitative institutional and insider activity

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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