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Investing.com - BMO Capital raised its price target on Patrick Industries (NASDAQ:PATK) to $115.00 from $110.00 on Friday, while maintaining an Outperform rating on the stock. Patrick Industries is currently trading at $100.83, with analyst consensus maintaining a Buy recommendation and price targets ranging from $95 to $115.
The price target increase follows Patrick Industries’ third-quarter 2025 results, which exceeded expectations according to the research firm. BMO Capital attributed the strong performance to a richer product mix and ongoing content share wins for the company. The manufacturer has generated $3.82 billion in revenue over the last twelve months with an EBITDA of $436 million, according to InvestingPro data.
Patrick Industries adjusted its 2025 expectations and introduced initial 2026 industry assumptions, which BMO Capital described as reasonable. The company also provided operating margin expansion guidance of 70-90 basis points year-over-year. With a projected EPS of $4.41 for fiscal 2025 and a modest 2% revenue growth forecast, the company maintains a "GOOD" overall financial health score.
BMO Capital’s new price target is supported by its 2027 estimates for Patrick Industries. The firm believes the company is well-positioned as its industry backdrops normalize.
The research firm sees further upside potential from Patrick Industries’ ongoing transition to becoming a more premium, solutions and systems-based company.
In other recent news, Patrick Industries reported its third-quarter earnings for 2025, surpassing market expectations. The company achieved an earnings per share of $1.01, exceeding the forecasted $0.93. Additionally, Patrick Industries’ revenue reached $976 million, outperforming the anticipated $896.78 million. These results highlight the company’s strong financial performance in the recent quarter. Meanwhile, Loop Capital initiated coverage on Patrick Industries with a Hold rating and set a price target of $99. The firm noted Patrick Industries’ strong market share positions and described its long-term outlook as attractive. These developments provide investors with insights into the company’s current financial health and market position.
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