Patrick Industries (NASDAQ:PATK) Price Target Lowered to $135.00 at Benchmark

Key Points

• Benchmark cut Patrick Industries' price target to $135 (from $150) but kept a "buy" rating, implying roughly a 50% upside from the stock's prior close.
• Other analysts have trimmed targets as well—Patrick's consensus rating is a "Moderate Buy" with an average price target of about $129.88, reflecting mixed sentiment among brokers.
• Q1 results showed a slight beat (EPS $1.10 vs. $1.08; revenue ~$997M vs. $989M) but revenue fell ~0.6% YoY and EPS was roughly flat, while the stock trades below its 50- and 200-day moving averages—signaling tepid demand and technical headwinds.

Patrick Industries (NASDAQ:PATK - Get Free Report) had its price objective lowered by equities research analysts at Benchmark from $150.00 to $135.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. Benchmark's target price suggests a potential upside of 50.10% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. KeyCorp dropped their price objective on Patrick Industries from $155.00 to $140.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. Robert W. Baird set a $140.00 target price on shares of Patrick Industries in a report on Friday, February 6th. Wall Street Zen cut shares of Patrick Industries from a "buy" rating to a "hold" rating in a report on Sunday, April 12th. Roth Mkm reaffirmed a "buy" rating and issued a $140.00 price objective (down from $157.00) on shares of Patrick Industries in a research report on Thursday, April 16th. Finally, 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. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $129.88.

Patrick Industries Price Performance

Shares of PATK stock opened at $89.94 on Friday. Patrick Industries has a twelve month low of $79.22 and a twelve month high of $148.50. The stock has a fifty day simple moving average of $112.42 and a two-hundred day simple moving average of $113.82. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 22.91 and a beta of 1.35. The company has a current ratio of 2.51, a quick ratio of 0.80 and a debt-to-equity ratio of 1.08.

Patrick Industries (NASDAQ:PATK - Get Free Report) last posted its earnings results on Thursday, April 30th. The construction company reported $1.10 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 business had revenue of $997.17 million for the quarter, compared to the consensus estimate of $989.06 million. During the same quarter last year, the firm posted $1.11 EPS. The company's revenue for the quarter was down .6% on a year-over-year basis. On average, analysts predict that Patrick Industries will post 5.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Stacey L. Amundson sold 3,903 shares of the business's stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $145.61, for a total transaction of $568,315.83. Following the sale, the executive vice president directly owned 12,819 shares of the company's stock, valued at $1,866,574.59. The trade was a 23.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matthew S. Filer bought 1,000 shares of the business's stock in a transaction that occurred on Friday, February 6th. The stock was purchased at an average cost of $139.91 per share, for a total transaction of $139,910.00. Following the completion of the transaction, the chief accounting officer owned 20,614 shares in the company, valued at $2,884,104.74. This trade represents a 5.10% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 11,110 shares of company stock valued at $1,289,895 and have sold 20,121 shares valued at $2,477,337. Corporate insiders own 3.80% of the company's stock.

Institutional Investors Weigh In On Patrick Industries

A number of institutional investors and hedge funds have recently modified their holdings of PATK. Wellington Management Group LLP lifted its stake in Patrick Industries by 19.9% during the 4th quarter. Wellington Management Group LLP now owns 2,217,107 shares of the construction company's stock valued at $240,401,000 after acquiring an additional 367,802 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Patrick Industries by 12,134.2% in the 4th quarter. SG Americas Securities LLC now owns 259,365 shares of the construction company's stock valued at $28,123,000 after acquiring an additional 257,245 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Patrick Industries by 24.4% in the fourth quarter. Capital Research Global Investors now owns 1,137,530 shares of the construction company's stock worth $123,342,000 after acquiring an additional 223,014 shares during the period. Bessemer Group Inc. raised its holdings in shares of Patrick Industries by 3,602.4% during the fourth quarter. Bessemer Group Inc. now owns 149,912 shares of the construction company's stock worth $16,255,000 after purchasing an additional 145,863 shares during the last quarter. Finally, Tributary Capital Management LLC raised its holdings in shares of Patrick Industries by 52.0% during the third quarter. Tributary Capital Management LLC now owns 371,608 shares of the construction company's stock worth $38,435,000 after purchasing an additional 127,099 shares during the last quarter. Institutional investors and hedge funds own 93.29% of the company's stock.

Patrick Industries News Roundup

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

• Positive Sentiment: Q1 beat: PATK reported $1.10 EPS vs. the $1.08 consensus and revenue of ~$997.2M vs. ~$989.1M expected — a small upside that explains some investor support after the print. Patrick Industries (PATK) Q1 Earnings Top Estimates
• Positive Sentiment: Company released an official press release and slide deck providing detailed Q1 results and segment disclosures — useful for investors evaluating near-term prospects and management’s priorities. Patrick Industries, Inc. Reports First Quarter 2026 Financial Results
• Neutral Sentiment: Underlying metrics show limited growth: revenue was down ~0.6% YoY and EPS roughly flat versus last year, indicating demand is currently tepid even as the company controls costs. Patrick Industries (PATK) Reports Q1 Earnings: What Key Metrics Have to Say
• Neutral Sentiment: Management commentary and the full earnings-call transcript/slide presentation are available for investors; they provide detail on segment performance, cost actions and integration priorities but did not contain a major guidance reset. Q1 2026 Earnings Call Transcript Q1 Results - Earnings Call Presentation
• Negative Sentiment: Merger talk reported in market coverage has introduced headline risk and uncertainty about strategy/valuation — M&A speculation can pressure shares if investors fear a distracting process or an expensive deal. Patrick Industries Reports Flat Q1 Results Amid Merger Talks
• Negative Sentiment: Technicals and profitability remain headwinds: the stock is trading below its 50- and 200-day moving averages, net margin is modest (~3.4%) and leverage is meaningful — factors that can weigh on sentiment until growth or margin improvement is clearer.

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.

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