FY2025 EPS Estimates for Patrick Industries, Inc. (NASDAQ:PATK) Raised by Roth Capital

Patrick Industries, Inc. (NASDAQ:PATK) – Investment analysts at Roth Capital raised their FY2025 earnings estimates for Patrick Industries in a research note issued on Monday, May 6th. Roth Capital analyst S. Stember now anticipates that the construction company will post earnings of $10.22 per share for the year, up from their previous estimate of $9.85. The consensus estimate for Patrick Industries’ current full-year earnings is $8.05 per share.

A number of other analysts have also weighed in on the company. StockNews.com lowered Patrick Industries from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. BMO Capital Markets upped their target price on Patrick Industries from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Roth Mkm reiterated a “buy” rating and issued a $126.00 price target (up previously from $120.00) on shares of Patrick Industries in a report on Monday. KeyCorp lifted their target price on shares of Patrick Industries from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Finally, Truist Financial restated a “buy” rating and issued a $130.00 price objective on shares of Patrick Industries in a report on Friday, April 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Patrick Industries currently has a consensus rating of “Moderate Buy” and an average price target of $106.71.

Patrick Industries Stock Up 0.8 %

Shares of PATK opened at $114.14 on Tuesday. The firm has a market cap of $2.56 billion, a P/E ratio of 16.91 and a beta of 1.73. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.38 and a quick ratio of 0.96. Patrick Industries has a 1 year low of $63.57 and a 1 year high of $123.58. The stock has a 50 day simple moving average of $112.09 and a two-hundred day simple moving average of $100.09.

Patrick Industries (NASDAQ:PATK) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.47. Patrick Industries had a return on equity of 14.90% and a net margin of 4.22%. The firm had revenue of $933.50 million during the quarter, compared to the consensus estimate of $829.22 million. During the same quarter last year, the company posted $1.35 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis.

Insider Transactions at Patrick Industries

In other Patrick Industries news, insider Kip B. Ellis sold 7,462 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $121.99, for a total transaction of $910,289.38. Following the completion of the sale, the insider now directly owns 101,316 shares in the company, valued at approximately $12,359,538.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Andy L. Nemeth sold 10,000 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $115.00, for a total transaction of $1,150,000.00. Following the sale, the chief executive officer now directly owns 289,619 shares of the company’s stock, valued at $33,306,185. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kip B. Ellis sold 7,462 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $121.99, for a total value of $910,289.38. Following the completion of the transaction, the insider now directly owns 101,316 shares of the company’s stock, valued at approximately $12,359,538.84. The disclosure for this sale can be found here. Insiders sold a total of 48,873 shares of company stock valued at $5,681,957 in the last quarter. 4.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC bought a new stake in Patrick Industries in the 4th quarter worth approximately $35,000. Carmel Capital Partners LLC bought a new position in shares of Patrick Industries during the 3rd quarter valued at approximately $44,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Patrick Industries by 21.6% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,340 shares of the construction company’s stock worth $102,000 after purchasing an additional 238 shares in the last quarter. Xponance Inc. bought a new position in shares of Patrick Industries in the fourth quarter worth about $203,000. Finally, Heritage Wealth Management LLC purchased a new position in Patrick Industries during the fourth quarter valued at $238,000. 93.29% of the stock is owned by hedge funds and other institutional investors.

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.