Blake Augsburger Buys 400 Shares of Patrick Industries (NASDAQ:PATK) Stock

Patrick Industries, Inc. (NASDAQ:PATK) Director Blake Augsburger bought 400 shares of the stock in a transaction on Tuesday, May 5th. The stock was bought at an average price of $85.19 per share, for a total transaction of $34,076.00. Following the completion of the purchase, the director directly owned 2,125 shares in the company, valued at approximately $181,028.75. The trade was a 23.19% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Patrick Industries Stock Down 0.6%

PATK opened at $95.36 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.71 and a quick ratio of 1.04. The business has a 50 day simple moving average of $110.13 and a 200-day simple moving average of $113.94. The stock has a market capitalization of $3.16 billion, a P/E ratio of 24.45 and a beta of 1.12. Patrick Industries, Inc. has a 12 month low of $81.21 and a 12 month high of $148.50.

Patrick Industries (NASDAQ:PATK) last posted its quarterly earnings results on Thursday, April 30th. The construction company reported $1.10 EPS for the quarter, beating 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 company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the firm earned $1.11 EPS. On average, equities analysts anticipate that Patrick Industries, Inc. will post 4.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Weiss Ratings raised Patrick Industries from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Robert W. Baird set a $110.00 price target on Patrick Industries in a report on Friday, May 1st. Benchmark reduced their price target on Patrick Industries from $150.00 to $135.00 and set a “buy” rating for the company in a report on Friday, May 1st. Roth Mkm set a $128.00 price target on Patrick Industries in a report on Tuesday. Finally, Raymond James Financial set a $108.00 price target on Patrick Industries in a report on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.63.

Hedge Funds Weigh In On Patrick Industries

Several hedge funds and other institutional investors have recently bought and sold shares of PATK. Salomon & Ludwin LLC acquired a new position in Patrick Industries during the third quarter worth $25,000. Advisory Services Network LLC acquired a new position in Patrick Industries during the third quarter worth $25,000. Torren Management LLC acquired a new position in Patrick Industries during the fourth quarter worth $26,000. Cornerstone Planning Group LLC acquired a new position in Patrick Industries during the third quarter worth $31,000. Finally, Allworth Financial LP raised its holdings in 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 purchasing an additional 203 shares during the last quarter. 93.29% of the stock is owned by institutional investors and hedge funds.

Patrick Industries News Roundup

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

• Positive Sentiment: Large coordinated insider buying — Executives and directors bought shares last week (CEO Andy Nemeth ~10,000 shares ≈ $880k; director M. Scott Welch ~10,050 shares; RV president Charles Roeder 5,750 shares), a visible leadership vote of confidence that pushed intraday optimism. Read More.
• Positive Sentiment: Additional insider purchases (CFO Matthew Filer, director Blake Augsburger) reinforce the buy signal and are confirmed by SEC Form 4 filings — these are often viewed by investors as management backing a recovery at current depressed levels. Read More.
• Neutral Sentiment: Analyst context and upside targets — several firms still carry mid/high‑teens to low‑hundreds price targets (median ~ $137.50), implying upside vs. today’s levels but reflecting mixed views on cyclicality and near‑term revenue softness; this is background support rather than an immediate catalyst. Read More.
• Negative Sentiment: Downgrade and institutional selling — Zacks cut Patrick to “strong sell” (negative near‑term analyst signal) and large institutions have trimmed positions recently (notable reductions from several money managers), which can sustain selling pressure despite insider buys. Read More.

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.