Roth Capital Has Negative Outlook for PATK FY2026 Earnings

Patrick Industries, Inc. (NASDAQ:PATK) – Roth Capital reduced their FY2026 earnings per share (EPS) estimates for Patrick Industries in a research note issued on Friday, October 31st. Roth Capital analyst S. Stember now expects that the construction company will earn $5.61 per share for the year, down from their previous estimate of $5.80. Roth Capital currently has a “Buy” rating and a $115.00 target price on the stock. The consensus estimate for Patrick Industries’ current full-year earnings is $5.33 per share. Roth Capital also issued estimates for Patrick Industries’ FY2027 earnings at $6.24 EPS.

Several other research firms have also recently issued reports on PATK. Loop Capital started coverage on shares of Patrick Industries in a report on Friday, October 31st. They issued a “hold” rating and a $99.00 price objective for the company. Truist Financial set a $114.00 price target on Patrick Industries and gave the company a “buy” rating in a research note on Wednesday, October 15th. BMO Capital Markets reissued an “outperform” rating and issued a $115.00 price objective on shares of Patrick Industries in a research note on Friday. KeyCorp raised their target price on Patrick Industries from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Finally, Weiss Ratings cut shares of Patrick Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $108.00.

Patrick Industries Stock Up 2.0%

Patrick Industries stock opened at $104.92 on Monday. Patrick Industries has a 52 week low of $72.99 and a 52 week high of $116.78. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 1.40 and a beta of 1.34. The company’s 50-day moving average price is $104.93 and its two-hundred day moving average price is $97.60. The company has a current ratio of 1.96, a quick ratio of 0.75 and a debt-to-equity ratio of 1.11.

Patrick Industries (NASDAQ:PATK) last issued its quarterly earnings results on Thursday, October 30th. The construction company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The company had revenue of $975.63 million for the quarter, compared to analyst estimates of $900.35 million. Patrick Industries had a return on equity of 13.04% and a net margin of 3.30%.The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $1.80 earnings per share.

Patrick Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 25th were issued a dividend of $0.40 per share. The ex-dividend date was Monday, August 25th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. Patrick Industries’s payout ratio is currently 45.71%.

Insider Activity

In related news, insider Kip B. Ellis sold 21,452 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $110.01, for a total value of $2,359,934.52. Following the completion of the transaction, the insider owned 125,379 shares of the company’s stock, valued at approximately $13,792,943.79. This trade represents a 14.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andy L. Nemeth sold 25,000 shares of Patrick Industries stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $110.68, for a total transaction of $2,767,000.00. Following the transaction, the chief executive officer owned 328,641 shares in the company, valued at approximately $36,373,985.88. The trade was a 7.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 73,413 shares of company stock worth $8,112,016 in the last quarter. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PATK. Nuveen LLC purchased a new stake in Patrick Industries in the 1st quarter worth about $33,735,000. American Century Companies Inc. increased its holdings in shares of Patrick Industries by 33.8% in the 2nd quarter. American Century Companies Inc. now owns 712,383 shares of the construction company’s stock valued at $65,732,000 after purchasing an additional 180,092 shares during the period. Tributary Capital Management LLC increased its holdings in shares of Patrick Industries by 52.0% in the 3rd quarter. Tributary Capital Management LLC now owns 371,608 shares of the construction company’s stock valued at $38,435,000 after purchasing an additional 127,099 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of Patrick Industries in the second quarter worth approximately $9,800,000. Finally, Watchtower Advisors LP acquired a new stake in shares of Patrick Industries during the second quarter worth approximately $9,227,000. Hedge funds and other institutional investors 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.