Key Points
- Insider purchase: Patrick Industries President Charles Roeder bought 5,750 shares at $87.83 each (about $505,022), raising his stake to 42,147 shares (a 15.8% increase) per an SEC filing.
- Cluster insider buying: Executives including the CEO and other directors purchased shares last week — insiders bought roughly $2.3M+ in total — signaling leadership conviction, with purchases confirmed by SEC filings.
- Company and analyst context: Patrick reported a slight EPS beat ($1.10 vs. $1.08) while revenue was down 0.6% year-over-year; the stock has a market cap of ~$3.18B and an average analyst target of about $122.63 amid mixed ratings.
Patrick Industries, Inc. (NASDAQ:PATK - Get Free Report) Director Blake Augsburger purchased 400 shares of the business's stock in a transaction dated 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 acquisition, the director directly owned 2,125 shares in the company, valued at approximately $181,028.75. This trade represents a 23.19% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Patrick Industries Trading Up 6.5%
Shares of NASDAQ:PATK opened at $95.90 on Thursday. Patrick Industries, Inc. has a 12-month low of $80.35 and a 12-month high of $148.50. The business's fifty day simple moving average is $110.81 and its 200-day simple moving average is $113.96. The company has a market capitalization of $3.18 billion, a PE ratio of 24.59 and a beta of 1.12. The company has a current ratio of 2.71, a quick ratio of 1.04 and a debt-to-equity ratio of 1.16.
Patrick Industries (NASDAQ:PATK - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The construction company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.08 by $0.02. Patrick Industries had a return on equity of 13.24% and a net margin of 3.46%.The business had revenue of $997.17 million for the quarter, compared to the consensus estimate of $989.06 million. During the same period last year, the business posted $1.11 EPS. The business's revenue was down .6% compared to the same quarter last year. As a group, equities research analysts predict that Patrick Industries, Inc. will post 4.94 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms recently commented on PATK. KeyCorp reduced their price objective on shares of Patrick Industries from $140.00 to $125.00 and set an "overweight" rating for the company in a research note on Friday, May 1st. Wall Street Zen lowered shares of Patrick Industries from a "buy" rating to a "hold" rating in a research note on Sunday, April 12th. Robert W. Baird set a $110.00 price target on Patrick Industries in a research note on Friday, May 1st. Raymond James Financial set a $108.00 price target on Patrick Industries in a research note on Friday, May 1st. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $150.00 price target (down from $155.00) on shares of Patrick Industries in a research note on Monday, April 20th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Patrick Industries currently has an average rating of "Moderate Buy" and a consensus target price of $122.63.
View Our Latest Report on PATK
Institutional Investors Weigh In On Patrick Industries
Institutional investors and hedge funds have recently made changes to their positions in the stock. First National Bank of Omaha purchased a new stake in Patrick Industries in the third quarter valued at approximately $601,000. Citizens Financial Group Inc. RI purchased a new stake in Patrick Industries in the third quarter valued at approximately $1,704,000. Tributary Capital Management LLC boosted its position in Patrick Industries by 52.0% in the third quarter. Tributary Capital Management LLC now owns 371,608 shares of the construction company's stock valued at $38,435,000 after buying an additional 127,099 shares during the last quarter. Truist Financial Corp boosted its position in Patrick Industries by 133.6% in the third quarter. Truist Financial Corp now owns 16,812 shares of the construction company's stock valued at $1,739,000 after buying an additional 9,616 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in Patrick Industries by 12,134.2% in the fourth quarter. SG Americas Securities LLC now owns 259,365 shares of the construction company's stock valued at $28,123,000 after buying an additional 257,245 shares during the last quarter. 93.29% of the stock is currently owned by institutional investors and hedge funds.
Key Stories Impacting Patrick Industries
Here are the key news stories impacting Patrick Industries this week:
- Positive Sentiment: Large coordinated insider buying — insiders bought roughly $2.3M+ of stock last week, led by CEO Andy Nemeth (10,000 shares, ~$880k), director M. Scott Welch (10,050 shares, ~$887k) and Charles R. Roeder (President - RV; 5,750 shares, ~$505k). Market reaction appears driven by this show of leadership conviction in the company’s outlook. Quiver Quantitative coverage of insider cluster buying
- Positive Sentiment: Additional insider purchases include CFO Matthew S. Filer (1,000 shares) and director Blake Augsburger (400 shares), reinforcing the buy signal from multiple senior executives. SEC filings for these purchases provide direct confirmation. Filer SEC filing Augsburger SEC filing
- Neutral Sentiment: Analyst context — several firms maintain higher price targets (median ~$137.50 across recent notes), suggesting upside vs. current levels but also reflecting mixed views on cyclicality and near-term revenue trends. This background may support longer-term investor interest but is not the immediate catalyst. Quiver Quantitative analyst target summary
- Negative Sentiment: Offsetting factors — Quiver notes notable insider sales and sizable institutional trimming in recent quarters (e.g., large reductions by FMR, Macquarie, T. Rowe Price), which could keep selling pressure and volatility elevated despite the buy signal. Investors should weigh whether current insider buys represent new conviction or opportunistic accumulation amid broader selling. Quiver Quantitative institutional and insider activity
Patrick Industries Company Profile
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Get Free Report)
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.
Further Reading
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