Zacks Research Downgrades Patrick Industries (NASDAQ:PATK) to Strong Sell

Patrick Industries (NASDAQ:PATK) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Truist Financial set a $126.00 target price on shares of Patrick Industries in a research note on Friday, January 9th. Weiss Ratings raised shares of Patrick Industries from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Raymond James Financial set a $108.00 price objective on shares of Patrick Industries 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. Finally, Roth Mkm set a $128.00 price objective on shares of Patrick Industries in a research note on Tuesday. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Patrick Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.63.

Patrick Industries Stock Up 6.5%

Shares of NASDAQ PATK opened at $95.90 on Tuesday. The firm has a market cap of $3.18 billion, a PE ratio of 24.59 and a beta of 1.12. Patrick Industries has a 12-month low of $80.35 and a 12-month high of $148.50. The company’s fifty day simple moving average is $110.81 and its 200 day simple moving average is $113.96. The company has a quick ratio of 1.04, a current ratio of 2.71 and a debt-to-equity ratio of 1.16.

Patrick Industries (NASDAQ:PATK) last issued its earnings results on Thursday, April 30th. The construction company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.02. The business had revenue of $997.17 million for the quarter, compared to analyst estimates of $989.06 million. Patrick Industries had a net margin of 3.46% and a return on equity of 13.24%. Patrick Industries’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.11 earnings per share. As a group, sell-side analysts forecast that Patrick Industries will post 4.94 earnings per share for the current fiscal year.

Insider Transactions at Patrick Industries

In related news, EVP Stacey L. Amundson sold 3,903 shares of the firm’s 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 transaction, the executive vice president directly owned 12,819 shares of the company’s stock, valued at $1,866,574.59. This trade represents a 23.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Hugo E. Gonzalez sold 13,514 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $113.10, for a total transaction of $1,528,433.40. Following the transaction, the chief operating officer directly owned 33,864 shares in the company, valued at $3,830,018.40. The trade was a 28.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders purchased 38,310 shares of company stock valued at $3,681,205 and sold 20,121 shares valued at $2,477,337. 3.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PATK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Patrick Industries by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,302 shares of the construction company’s stock valued at $1,632,000 after purchasing an additional 851 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Patrick Industries by 5.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,446 shares of the construction company’s stock valued at $5,957,000 after purchasing an additional 3,748 shares in the last quarter. Strs Ohio bought a new position in shares of Patrick Industries during the first quarter valued at about $42,000. Cetera Investment Advisers lifted its position in shares of Patrick Industries by 64.8% during the second quarter. Cetera Investment Advisers now owns 6,058 shares of the construction company’s stock valued at $559,000 after purchasing an additional 2,381 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Patrick Industries during the second quarter valued at about $340,000. 93.29% of the stock is owned by institutional investors.

Key Headlines 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

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.