Patrick Industries, Inc. manufactures and distributes components, building products, and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States and Canada. Its Manufacturing segment manufactures and sells furniture, shelving, wall, countertop, and cabinet product; cabinet door, fiberglass bath fixture, and tile system; hardwood furniture, vinyl printing, solid surface, granite, and quartz countertop fabrication aluminum product; RV painting; decorative vinyl and paper laminated panel; fiberglass and plastic component; softwoods lumber; custom cabinet; polymer-based flooring product; marine hardware; air handling; and electrical system and component, including instrument and dash panel, and other product. This segment also provides wrapped vinyl, paper, and hardwood profile moulding; interior passage door; slide-out trim and fascia product; thermoformed shower surround; specialty bath and closet building product; treated, untreated, and laminated plywood; fiberglass and plastic helm systems and component; wiring and wire harnesses; aluminum and plastic fuel tank; boat cover, tower, top, and frame; CNC molds and composite part; and slotwall panel and component. The company's Distribution segment distributes pre-finished wall and ceiling panel, drywall and finishing product, electronic, audio system component, appliance, wiring product, electrical and plumbing product, cement siding product, raw and processed lumber, fiber reinforced polyester product, roofing, laminate and ceramic flooring product, shower door, furniture, fireplace and surround, interior and exterior lighting product, and other product. This segment also offers transportation and logistics service. The company was founded in 1959 and is headquartered in Elkhart, Indiana.
IPO Year:
Exchange: NASDAQ
Website: patrickind.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 4/4/2025 | $96.00 | Outperform → Neutral | Robert W. Baird |
| 10/1/2024 | $160.00 | Outperform | Raymond James |
| 8/29/2024 | $145.00 | Buy | The Benchmark Company |
| 12/7/2023 | $105.00 | Outperform | BMO Capital Markets |
| 4/19/2023 | $80.00 | Overweight | KeyBanc Capital Markets |
| 8/26/2022 | $65.00 | Neutral | DA Davidson |
| 5/5/2022 | $93.00 | Buy | MKM Partners |
| 4/12/2022 | $75.00 | Buy | Truist |
| 4/4/2022 | $60.00 | Underperform | BofA Securities |
| 10/26/2021 | $102.00 → $90.00 | Overweight | Keybanc |
ELKHART, Ind., May 27, 2025 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ:PATK) ("Patrick" or the "Company"), a leading component solutions provider for the Outdoor Enthusiast and Housing markets, will participate in the upcoming Baird 2025 Global Consumer, Technology & Services Conference to be held in New York, NY from June 3-5, 2025. On June 3rd, Patrick's management team will participate in a fireside chat and hold one-on-one meetings with institutional investors and analysts. Please contact Baird for attendance information and additional details. About Patrick Industri
ELKHART, Ind., May 19, 2025 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ:PATK) ("Patrick" or the "Company"), a leading component solutions provider for the Outdoor Enthusiast and Housing markets, announced that Jake Petkovich will rejoin Patrick as President – Marine, succeeding Rick Reyenger, effective May 19, 2025. Mr. Reyenger will remain with the Company and move to a strategic advisory role to support continuity and ensure a smooth and seamless transition across the Company's Marine businesses. "We are thrilled to welcome Jake back to the Patrick family," said Andy Ne
ELKHART, Ind., May 16, 2025 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ:PATK) today announced that on May 15, 2025, its Board of Directors (the "Board") declared a quarterly cash dividend on its common stock of $0.40 per share. The dividend is payable on June 9, 2025 to shareholders of record at the close of business on May 27, 2025. About Patrick Industries, Inc. Patrick (NASDAQ:PATK) is a leading component solutions provider serving the RV, Marine, Powersports and Housing markets. Since 1959, Patrick has empowered manufacturers and outdoor enthusiasts to achieve next-le
First Quarter 2025 Highlights (compared to First Quarter 2024 unless otherwise noted) Net sales increased 7% to $1.0 billion, driven by revenue growth of 14% and 7% in the Company's RV and Housing markets, respectively, which more than offset a 4% decline in Marine revenue and a 2% decline in Powersports revenue.Operating margin increased 10 basis points to 6.5%. Adjusted operating margin1 was 6.5% compared to 7.0% in the first quarter of 2024.Net income was $38 million and diluted earnings per share (EPS) was $1.11, compared to net income of $35 million and diluted EPS of $1.06 in the first quarter of 2024. Adjusted diluted EPS1 was $1.11 compared to $1.19 in the prior year period.Reported
ELKHART, Ind., April 17, 2025 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ:PATK) ("Patrick" or the "Company") today announced that it will release its first quarter 2025 financial results before the market opens on Thursday, May 1, 2025. Patrick Industries will host a conference call on Thursday, May 1, 2025 at 10:00 a.m. Eastern Time to discuss results and other business matters. Participation in the question-and-answer session of the call will be limited to institutional investors and analysts. The dial-in number for the live conference call is (877) 407-9036. Interested
ELKHART, Ind., Feb. 27, 2025 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ:PATK) ("Patrick" or the "Company"), a leading component solutions provider for the Outdoor Enthusiast and Housing markets, will participate in three upcoming investor conferences in March. Patrick's management team will engage in fireside chats and one-on-one meetings with institutional investors and analysts at the following conferences: Raymond James 46th Annual Institutional Investors Conference, which will be held at the JW Marriott Grande Lakes in Orlando, Florida. The conference will take place
ELKHART, Ind., Feb. 24, 2025 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ:PATK) ("Patrick" or the "Company") announced today that it has completed the acquisition of Spring Lake, Michigan-based Medallion Instrumentation Systems, LLC ("Medallion"), a premier provider of customized instrumentation and vehicle electronics for marine, RV, powersports, on-highway and military markets. Medallion's engineering team provides complete systems solutions that cater to customer needs, including digital switching, lighting controls, integrated audio, sensor products, wire harnessing, gauges and LCD touchscreen displays. Medallion's 2024 revenue was approximately $38 million.
Fourth Quarter and Full Year 2024 Highlights (compared to Fourth Quarter and Full Year 2023 unless otherwise noted) Net sales for the fourth quarter and full year increased 8% to $846 million and 7% to $3.7 billion, respectively, reflecting the contribution of acquisitions, and higher revenue from our Housing and RV end markets.Operating margin for the fourth quarter and full year was 4.7% and 6.9%, respectively. Adjusted operating margin1 for the fourth quarter and full year was 5.2% and 7.2%, respectively.Diluted earnings per share (EPS) for the fourth quarter and full year 2024 was $0.42 and $4.11, respectively. Adjusted diluted EPS1 for the fourth quarter and full year 2024 was $0.52 and
TEMPE, Ariz., Feb. 4, 2025 /PRNewswire/ -- Rockford Fosgate (www.rockfordfosgate.com), the industry leader in high-performance audio systems, is excited to announce the new M2 Element Ready™ Subwoofers. Bringing unmatched reliability and deep, powerful bass, with enhanced responsiveness and superior thermal management. Built to handle any adventure, they were engineered to endure the toughest conditions. The M2 subwoofers pack 400 watts of power into a 10-inch design, with flexible options to suit a variety of installations. Choose from infinite baffle or sealed enclosures, as
ELKHART, Ind., Feb. 3, 2025 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ:PATK) ("Patrick" or the "Company") announced today that it has completed the acquisition of Elkhart, Indiana-based Elkhart Composites, Inc., a Thor Industries owned company. Marketing its products under the "Elkboard" brand name, Elkhart Composites manufactures composite products for sidewalls and ceilings, which are durable, lightweight, sustainable alternatives to wood products, for sale to Thor branded companies and other external customers. "We are excited about the opportunity to further partner
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Robert W. Baird downgraded Patrick Industries from Outperform to Neutral and set a new price target of $96.00
Raymond James initiated coverage of Patrick Industries with a rating of Outperform and set a new price target of $160.00
The Benchmark Company initiated coverage of Patrick Industries with a rating of Buy and set a new price target of $145.00
BMO Capital Markets initiated coverage of Patrick Industries with a rating of Outperform and set a new price target of $105.00
KeyBanc Capital Markets initiated coverage of Patrick Industries with a rating of Overweight and set a new price target of $80.00
DA Davidson initiated coverage of Patrick Industries with a rating of Neutral and set a new price target of $65.00
MKM Partners initiated coverage of Patrick Industries with a rating of Buy and set a new price target of $93.00
Truist initiated coverage of Patrick Industries with a rating of Buy and set a new price target of $75.00
BofA Securities initiated coverage of Patrick Industries with a rating of Underperform and set a new price target of $60.00
Keybanc reiterated coverage of Patrick Industries with a rating of Overweight and set a new price target of $90.00 from $102.00 previously
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ELKHART, Ind., May 16, 2025 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ:PATK) today announced that on May 15, 2025, its Board of Directors (the "Board") declared a quarterly cash dividend on its common stock of $0.40 per share. The dividend is payable on June 9, 2025 to shareholders of record at the close of business on May 27, 2025. About Patrick Industries, Inc. Patrick (NASDAQ:PATK) is a leading component solutions provider serving the RV, Marine, Powersports and Housing markets. Since 1959, Patrick has empowered manufacturers and outdoor enthusiasts to achieve next-le
First Quarter 2025 Highlights (compared to First Quarter 2024 unless otherwise noted) Net sales increased 7% to $1.0 billion, driven by revenue growth of 14% and 7% in the Company's RV and Housing markets, respectively, which more than offset a 4% decline in Marine revenue and a 2% decline in Powersports revenue.Operating margin increased 10 basis points to 6.5%. Adjusted operating margin1 was 6.5% compared to 7.0% in the first quarter of 2024.Net income was $38 million and diluted earnings per share (EPS) was $1.11, compared to net income of $35 million and diluted EPS of $1.06 in the first quarter of 2024. Adjusted diluted EPS1 was $1.11 compared to $1.19 in the prior year period.Reported
ELKHART, Ind., April 17, 2025 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ:PATK) ("Patrick" or the "Company") today announced that it will release its first quarter 2025 financial results before the market opens on Thursday, May 1, 2025. Patrick Industries will host a conference call on Thursday, May 1, 2025 at 10:00 a.m. Eastern Time to discuss results and other business matters. Participation in the question-and-answer session of the call will be limited to institutional investors and analysts. The dial-in number for the live conference call is (877) 407-9036. Interested
Fourth Quarter and Full Year 2024 Highlights (compared to Fourth Quarter and Full Year 2023 unless otherwise noted) Net sales for the fourth quarter and full year increased 8% to $846 million and 7% to $3.7 billion, respectively, reflecting the contribution of acquisitions, and higher revenue from our Housing and RV end markets.Operating margin for the fourth quarter and full year was 4.7% and 6.9%, respectively. Adjusted operating margin1 for the fourth quarter and full year was 5.2% and 7.2%, respectively.Diluted earnings per share (EPS) for the fourth quarter and full year 2024 was $0.42 and $4.11, respectively. Adjusted diluted EPS1 for the fourth quarter and full year 2024 was $0.52 and
ELKHART, Ind., Feb. 3, 2025 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ:PATK) ("Patrick" or the "Company") announced today that it has completed the acquisition of Elkhart, Indiana-based Elkhart Composites, Inc., a Thor Industries owned company. Marketing its products under the "Elkboard" brand name, Elkhart Composites manufactures composite products for sidewalls and ceilings, which are durable, lightweight, sustainable alternatives to wood products, for sale to Thor branded companies and other external customers. "We are excited about the opportunity to further partner
ELKHART, Ind., Jan. 23, 2025 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ:PATK) ("Patrick" or the "Company") today announced that it will release its fourth quarter and twelve months 2024 financial results before the market opens on Thursday, February 6, 2025. Patrick Industries will host a conference call on Thursday, February 6, 2025 at 10:00 a.m. Eastern Time to discuss results and other business matters. Participation in the question-and-answer session of the call will be limited to institutional investors and analysts. The dial-in number for the live conference call i
ELKHART, Ind., Nov. 19, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ:PATK) ("Patrick" or the "Company") announced today that on November 18, 2024, the Company's Board of Directors approved a three-for-two stock split of the Company's common stock, to be effected in the form of a stock dividend, payable as one additional share of common stock for every two shares of common stock held. Shareholders will receive cash in lieu of any fractional share of common stock that they otherwise would have been entitled to receive in connection with the split. The stock dividend is
ELKHART, Ind., Nov. 15, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ:PATK) ("Patrick" or the "Company") today announced that on November 14, 2024, its Board of Directors (the "Board") approved an increase in the amount of its quarterly cash dividend on its common stock to $0.60 per share from $0.55 per share. The dividend is payable on December 9, 2024 to shareholders of record at the close of business on November 25, 2024. Additionally, the Board authorized an increase in the amount of the Company's common stock that may be acquired over the next 24 months under the current stock repurchase program to $200.0 million, including the $72.9 million remaining under the previous authoriz
Third Quarter 2024 Highlights (compared to Third Quarter 2023 unless otherwise noted) Net sales increased 6% to $919 million driven by a 13% increase in Housing revenue and our first quarter acquisition of Sportech, which together more than offset a 21% decline in Marine revenue.Operating margin decreased 10 basis points to 8.1%. For the first nine months of 2024, adjusted operating margin improved 20 basis points to 7.8%.Net income increased 3% to $41 million. Diluted earnings per share of $1.80 included the dilutive impact of our convertible notes and related warrants in the period, or an estimated $0.06 per share. For the first nine months of 2024, adjusted diluted earnings per share incr
ELKHART, Ind., Oct. 17, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ:PATK) ("Patrick" or the "Company") today announced that it will release its third quarter and nine months 2024 financial results before the market opens on Thursday, October 31, 2024. Patrick Industries will host a conference call on Thursday, October 31, 2024 at 10:00 a.m. Eastern Time to discuss results and other business matters. Participation in the question-and-answer session of the call will be limited to institutional investors and analysts. The dial-in number for the live conference call is (
ELKHART, Ind., Feb. 24, 2025 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ:PATK) ("Patrick" or the "Company") announced today that it has completed the acquisition of Spring Lake, Michigan-based Medallion Instrumentation Systems, LLC ("Medallion"), a premier provider of customized instrumentation and vehicle electronics for marine, RV, powersports, on-highway and military markets. Medallion's engineering team provides complete systems solutions that cater to customer needs, including digital switching, lighting controls, integrated audio, sensor products, wire harnessing, gauges and LCD touchscreen displays. Medallion's 2024 revenue was approximately $38 million.
ROCKFORD FOSGATE® PASSES THE TORCH, PAVING THE WAY FOR CONTINUED STRENGTH AND INNOVATION FOR THE NEXT FUTURE. TEMPE, Ariz., Aug. 19, 2024 /PRNewswire/ -- Rockford Fosgate, the industry leader in high-performance audio systems, is thrilled to announce two significant leadership changes within the company. Bill Jackson, who has served as President and CEO for the past 18 years, will transition to the role of Sr. Operations Business Advisor to Patrick Industries. Succeeding him, Zach Luke, a seasoned leader with over 20 years of dedicated service at Rockford Fosgate, will step into the role of President.
TEMPE, Ariz., May 3, 2024 /PRNewswire/ -- Rockford Fosgate, the industry leader in high-performance audio systems, is thrilled to announce its sponsorship of the Harley-Davidson Museum as the official Motorcycle Audio partner. This partnership promises visitors an immersive on-site audio journey with H-D Museum™ Demos, alongside hosting the H-D Museum Bike Night Concert Series and activation during the annual H-D® Homecoming™ Festival. Zach Luke, as Managing Director of Rockford Fosgate, expressed, "This presents a remarkable opportunity for us to connect with our customers on
TEMPE, Ariz., March 5, 2024 /PRNewswire/ -- Rockford Fosgate, the industry leader in high-performance audio systems, is excited to announce the addition of Doug Dobson as Digital Application Manager. ROCKFORD FOSGATE® APPOINTS DOUG DOBSON AS DIGITAL APPLICATION MANAGERIn his new role, Doug will assume responsibility for vehicle specific guidance and expertise to the embedded software team during UI/APP development. Doug stated, "I am excited and honored to join the great team at Rockford Fosgate and its rich history in the car audio world. I hope to bring my own specialties a
TEMPE, Ariz., March 5, 2024 /PRNewswire/ -- Rockford Fosgate, the industry leader in high-performance audio systems, is excited to announce the addition of Derek Schmiedl as Director of Integration. In his new role, Derek will assume responsibility for overseeing and spearheading the Rockford Fosgate audio integration initiatives. Leveraging his extensive years of industry experience and proven track record of success, Derek will play a crucial role in advancing and crafting tailored solutions for various vehicle models. Derek, stated, "Rockford Fosgate is renowned for creatin
ELKHART, Ind., March 5, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ:PATK) ("Patrick" or the "Company"), a leading component solutions provider for the Outdoor Enthusiast and Housing markets, announced today that it has appointed Andy Roeder as Executive Vice President-Finance, Chief Financial Officer ("CFO"), and Treasurer of the Company, effective March 5. "We are delighted to announce that Andy will be joining Patrick's leadership team after a robust search process that encompassed strong candidates, both internal and external," said Andy Nemeth, Chief Executive
TEMPE, Ariz., Feb. 29, 2024 /PRNewswire/ -- Rockford Fosgate, the industry leader in high-performance audio systems, is excited to announce the addition of Jordan Beecham as Regional Sales Manager, Motorcycle. Rockford Fosgate is excited to announce the addition of Jordan Beecham as Regional Sales Manager, Motorcycle.In his role, Jordan will oversee and lead the Rockford Fosgate aftermarket motorcycle audio sales initiatives, where his years of industry experience and success will play a pivotal part in expanding Rockford's category relationships and growth. Jordan, stated, "R
TEMPE, Ariz., Dec. 20, 2023 /PRNewswire/ -- Rockford Fosgate, the industry leader in high-performance audio systems, is excited to announce the addition of Ora Freeman as Senior Director of OEM Marine. In his role, Ora will oversee and lead the Rockford Fosgate OEM Marine initiatives, where his years of industry experience and success will play a pivotal part in expanding Rockford's category relationships and growth. Ora, stated, "Rockford Fosgate is an iconic brand in the audio industry, and I couldn't be more excited to join this team and help lead them to a prominent positi
ELKHART, Ind., April 17, 2023 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ:PATK) (the "Company") today announced that Jake Petkovich, Executive Vice President of Finance, Chief Financial Officer and Treasurer, will step down in May to accept a senior leadership position with another company. Mr. Petkovich, who has served as CFO of Patrick since November 2020, will remain in his current position until that time and provide support to ensure an orderly transition. "The Board of Directors and I want to thank Jake for his tremendous contributions to the Patrick family," said A