Patrick Industries (NASDAQ:PATK) Given New $125.00 Price Target at KeyCorp

Patrick Industries (NASDAQ:PATK) had its target price trimmed by KeyCorp from $140.00 to $125.00 in a report published on Friday, Marketbeat reports. The brokerage currently has an overweight rating on the construction company’s stock.

Several other analysts have also recently issued reports on PATK. Truist Financial set a $126.00 price target on shares of Patrick Industries in a report on Friday, January 9th. BMO Capital Markets reissued an “outperform” rating and set a $150.00 target price (down from $155.00) on shares of Patrick Industries in a report on Monday, April 20th. 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 reissued a “buy” rating and set a $140.00 target price (down from $157.00) on shares of Patrick Industries in a report on Thursday, April 16th. Finally, Weiss Ratings raised shares of Patrick Industries from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Patrick Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.13.

Patrick Industries Stock Down 4.4%

PATK traded down $4.06 during trading on Friday, hitting $88.94. The company had a trading volume of 748,648 shares, compared to its average volume of 601,640. The company has a market cap of $2.94 billion, a PE ratio of 22.75 and a beta of 1.35. The business has a 50-day moving average of $112.42 and a 200-day moving average of $113.82. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.71 and a quick ratio of 0.80. Patrick Industries has a 1-year low of $79.22 and a 1-year high of $148.50.

Patrick Industries (NASDAQ:PATK) last posted its quarterly earnings results on Thursday, April 30th. The construction company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.02. The firm had revenue of $997.17 million for the quarter, compared to analysts’ expectations of $989.06 million. Patrick Industries had a net margin of 3.46% and a return on equity of 13.24%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company posted $1.11 earnings per share. As a group, analysts forecast that Patrick Industries will post 5.37 earnings per share for the current year.

Patrick Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, February 23rd were given a dividend of $0.47 per share. The ex-dividend date was Monday, February 23rd. This represents a $1.88 annualized dividend and a dividend yield of 2.1%. Patrick Industries’s dividend payout ratio is currently 48.08%.

Insider Buying and Selling at Patrick Industries

In related news, Director M Scott Welch bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average price of $113.68 per share, for a total transaction of $1,136,800.00. Following the transaction, the director directly owned 146,000 shares of the company’s stock, valued at approximately $16,597,280. This represents a 7.35% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stacey L. Amundson sold 3,903 shares of the stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $145.61, for a total transaction of $568,315.83. Following the completion of the transaction, the executive vice president owned 12,819 shares of the company’s stock, valued at $1,866,574.59. This represents a 23.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have purchased 11,110 shares of company stock valued at $1,289,895 and have sold 20,121 shares valued at $2,477,337. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Patrick Industries

A number of institutional investors and hedge funds have recently bought and sold shares of PATK. Salomon & Ludwin LLC bought a new position in Patrick Industries in the 3rd quarter valued at about $25,000. Advisory Services Network LLC bought a new position in Patrick Industries in the 3rd quarter valued at about $25,000. Torren Management LLC bought a new position in Patrick Industries in the 4th quarter valued at about $26,000. Cornerstone Planning Group LLC bought a new position in Patrick Industries in the 3rd quarter valued at about $31,000. Finally, Allworth Financial LP grew its position in Patrick Industries by 181.3% in the 4th quarter. Allworth Financial LP now owns 315 shares of the construction company’s stock valued at $34,000 after buying an additional 203 shares in the last quarter. Institutional investors own 93.29% of the company’s stock.

Key Stories Impacting Patrick Industries

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

• Positive Sentiment: Q1 results narrowly beat expectations: PATK reported $1.10 EPS vs. $1.08 consensus and revenue of $997.2M vs. $989.1M expected; margin and ROE remain positive despite revenue down 0.6% YoY. PR Newswire Q1 Release
• Positive Sentiment: Analysts still maintain constructive ratings (buy/overweight) after updates, implying substantial upside from current levels — this suggests continued analyst confidence in recovery/longer-term thesis. Benzinga
• Neutral Sentiment: Management materials and transcripts are available for deeper read — the earnings presentation and call transcript provide color on end‑market demand, margin drivers and any M&A/merger commentary that investors will parse for forward signals. Earnings Call Transcript Slide Deck
• Neutral Sentiment: Analyst write-ups and metric-focused pieces (Zacks, Stamford Advocate, Seeking Alpha summaries) give context on key metrics versus estimates and YoY trends—useful for assessing whether the beat is durable. Zacks
• Negative Sentiment: KeyCorp trimmed its price target from $140 to $125 (still overweight), which reduces near-term analyst upside and may have pressured sentiment. Benzinga / The Fly
• Negative Sentiment: Benchmark lowered its target from $150 to $135 (maintaining a buy), another downward PT revision that likely contributed to selling despite the retained positive rating. Benzinga
• Negative Sentiment: Technical/flow factors: trading volume is above average and the stock sits below its 50‑ and 200‑day moving averages, amplifying downside pressure as short‑term momentum turns negative. MarketBeat

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.