Research Analysts Set Expectations for PATK FY2025 Earnings

Key Points

• Roth Capital has lowered its earnings estimate for Patrick Industries' FY2025 from $4.43 to $4.23 per share, while the current consensus estimate remains at $5.33 per share.
• In its latest quarterly report, Patrick Industries exceeded analyst expectations by reporting earnings of $1.50 per share, with revenues reaching $1.05 billion, marking a 3.0% year-over-year increase.
• Several analysts have recently raised their price targets for Patrick Industries, with ratings indicating a general sentiment of a "Moderate Buy" and an average target price of $101.25.

Patrick Industries, Inc. (NASDAQ:PATK - Free Report) - Roth Capital lowered their FY2025 earnings estimates for Patrick Industries in a note issued to investors on Friday, August 1st. Roth Capital analyst S. Stember now forecasts that the construction company will post earnings per share of $4.23 for the year, down from their prior estimate of $4.43. The consensus estimate for Patrick Industries' current full-year earnings is $5.33 per share. Roth Capital also issued estimates for Patrick Industries' Q4 2026 earnings at $1.03 EPS.

Patrick Industries (NASDAQ:PATK - Get Free Report) last announced its earnings results on Thursday, July 31st. The construction company reported $1.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.09. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Patrick Industries had a net margin of 3.30% and a return on equity of 13.04%. The company's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $2.16 earnings per share.

PATK has been the topic of a number of other reports. Truist Financial raised their target price on shares of Patrick Industries from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Tuesday, June 3rd. Benchmark lifted their price objective on shares of Patrick Industries from $102.00 to $110.00 and gave the company a "buy" rating in a research report on Friday. Robert W. Baird lifted their price objective on shares of Patrick Industries from $84.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, June 20th. Raymond James Financial lifted their price objective on shares of Patrick Industries from $95.00 to $109.00 and gave the company an "outperform" rating in a research report on Friday. Finally, BMO Capital Markets lifted their price objective on shares of Patrick Industries from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $101.25.

Patrick Industries Stock Performance

Shares of PATK opened at $98.04 on Monday. The company has a current ratio of 1.96, a quick ratio of 0.75 and a debt-to-equity ratio of 1.11. The firm has a market cap of $3.28 billion, a PE ratio of 26.57, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. The company's 50 day simple moving average is $93.67 and its 200-day simple moving average is $89.34. Patrick Industries has a 12-month low of $72.99 and a 12-month high of $103.25.

Patrick Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.60 dividend on an annualized basis and a yield of 1.6%. Patrick Industries's dividend payout ratio (DPR) is 43.36%.

Insiders Place Their Bets

In other Patrick Industries news, Director John A. Forbes sold 2,875 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $91.62, for a total value of $263,407.50. Following the completion of the sale, the director owned 52,591 shares of the company's stock, valued at approximately $4,818,387.42. This trade represents a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Todd M. Cleveland bought 1,000 shares of Patrick Industries stock in a transaction on Tuesday, June 3rd. The stock was acquired at an average cost of $82.75 per share, with a total value of $82,750.00. Following the acquisition, the director owned 133,286 shares of the company's stock, valued at $11,029,416.50. This trade represents a 0.76% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 14,071 shares of company stock valued at $1,205,964. 4.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Peregrine Capital Management LLC raised its stake in shares of Patrick Industries by 1.7% during the 2nd quarter. Peregrine Capital Management LLC now owns 149,484 shares of the construction company's stock worth $13,793,000 after buying an additional 2,495 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Patrick Industries by 8.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 6,125 shares of the construction company's stock worth $565,000 after buying an additional 468 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Patrick Industries by 21.2% during the 2nd quarter. Bessemer Group Inc. now owns 4,010 shares of the construction company's stock worth $370,000 after buying an additional 702 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Patrick Industries by 27.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 165,330 shares of the construction company's stock worth $15,255,000 after buying an additional 35,447 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of Patrick Industries by 2.8% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 21,832 shares of the construction company's stock worth $2,014,000 after buying an additional 604 shares during the last quarter. Institutional investors and hedge funds own 93.29% 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.

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