Patrick Industries director Forbes sells $263k in stock

John A. Forbes, a director at Patrick Industries Inc. (NASDAQ:PATK), recently sold 2,875 shares of the company’s common stock. The transaction, which took place on June 13, 2025, was executed at a weighted average price of $91.62 per share, generating a total of $263,407. The sale price was near the current trading price of $90.10, with analysts setting price targets between $80 and $110. According to InvestingPro analysis, Patrick Industries maintains strong financial health with a GOOD overall rating. Forbes now holds 52,591 shares following the sale.

Additionally, on June 12, 2025, Forbes gifted 150 shares of common stock, which did not involve any monetary exchange. The company, currently valued at $3.01 billion, shows solid fundamentals with a healthy current ratio of 2.41. InvestingPro subscribers can access additional insights, including 6 key ProTips and a comprehensive Pro Research Report, which is available for over 1,400 US stocks.

In other recent news, Patrick Industries reported impressive financial results for the first quarter of 2025, surpassing analysts’ expectations. The company achieved an earnings per share (EPS) of $1.11, exceeding the forecasted $0.97, and reported revenue of $1 billion, which was above the anticipated $960.2 million. This represents a 7% increase in revenue year-over-year, indicating strong operational performance. Additionally, Patrick Industries completed two acquisitions and repurchased $8.5 million of its stock, further diversifying its business model and strengthening its market position.

In related developments, KeyBanc Capital Markets reiterated its Overweight rating for Patrick Industries, maintaining a price target of $100. This decision reflects KeyBanc’s confidence in the company’s long-term growth prospects through both organic initiatives and acquisitions. The firm highlighted Patrick Industries’ ability to leverage expenses and increase production as market conditions improve, citing its diversified exposure across multiple segments as a key strength.

These developments underscore Patrick Industries’ strategic growth initiatives and its ability to navigate market challenges effectively. The company’s diversified business model, coupled with strong liquidity, positions it well for future growth opportunities. Investors may find these recent achievements and strategic moves indicative of Patrick Industries’ robust market position and potential for continued success.

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