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Investing.com - BMO Capital has raised its price target on Patrick Industries (NASDAQ:PATK) to $110.00 from $100.00 while maintaining an Outperform rating on the stock. With a current market capitalization of $3.25 billion and a strong financial health rating according to InvestingPro, PATK has demonstrated robust performance, including an 8.12% revenue growth over the last twelve months.
The price target increase follows Patrick Industries’ second-quarter 2025 results, which BMO noted came in "a bit better than expected," with guidance remaining largely unchanged except for recreational vehicle (RV) industry assumptions. The company maintains a healthy financial position with a current ratio of 2.41, indicating strong liquidity. InvestingPro analysis reveals that Patrick Industries has consistently raised its dividend for 6 consecutive years, currently yielding 1.65%.
BMO Capital expects production levels in Patrick’s end markets to remain uneven during the second half of the year until dealers gain more confidence in retail demand trends.
Despite potential market choppiness, BMO raised its 2026 estimates for Patrick Industries, citing multiple growth opportunities that could help the company offset uneven end market demand.
These growth levers include expansion into adjacent markets with cross-selling potential, aftermarket opportunities, mergers and acquisitions, and continued development of higher-engineered products, according to BMO Capital.
In other recent news, Patrick Industries reported its second-quarter 2025 earnings, showcasing a positive performance. The company achieved an adjusted earnings per share (EPS) of $1.50, which exceeded analyst forecasts of $1.40, representing a 7.14% surprise. Additionally, Patrick Industries reported a revenue of $1.05 billion, surpassing expectations by 1.94%. Despite these favorable financial results, the company’s stock experienced a decline, reflecting a mixed market reaction. These developments highlight the company’s ability to outperform earnings and revenue projections.
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