Patrick Industries Forecast | Price, Price Target & Analyst Assessment

Patrick Industries

NasdaqGS:PATK

$ 111,07

+ $5,37 (5,08%)

111,07 $

+$5,37 (5,08%)

End-of-day quote: 03/31/2026

Patrick Industries Stock Value

The current analyst recommendation for NasdaqGS:PATK is: Outperform.

Outperform

Patrick Industries Company Info

EPS Growth 5Y

9,04%

Market Cap

$3,51 B

Long-Term Debt

$1,31 B

Short Interest

7,46%

Annual earnings

N/A

Dividend

$1,98

Dividend Yield

1,78%

Founded

1959

Industry

Consumer Discretionary

Country

United States

ISIN Number

US7033431039

Website

http://ir.patrickind.com

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

$145,00

30.55%

Last Update: 03/31/2026

Analysts: 10

Highest Price Target $157,00

Average Price Target $145,00

Lowest Price Target $95,00

In the last five quarters, Patrick Industries’s Price Target has risen from $66,70 to $103,30 - a 54,87% increase. Ten analysts predict that Patrick Industries’s share price will increase in the coming year, reaching $145,00. This would represent an increase of 30,55%.

Top growth stocks in the consumer discretionary sector (5Y.)

What does Patrick Industries do?

Patrick Industries, Inc. (Patrick) operates as component solutions provider for the recreational vehicle (RV), marine, powersports, manufactured housing (MH) and various industrial markets – including single and multi-family housing, hospitality, institutional and commercial markets. The company operates through a nationwide network that includes, as of December 31, 2024, approximately 179 manufacturing plants and 47 warehouse and distribution facilities located in 25 states, with a small prese...

The company operates through a nationwide network that includes, as of December 31, 2024, approximately 179 manufacturing plants and 47 warehouse and distribution facilities located in 25 states, with a small presence in Mexico, China and Canada. The company operates within two reportable segments, Manufacturing and Distribution, through a nationwide network of manufacturing and distribution centers for its products, thereby reducing in-transit delivery time and cost to the regional manufacturing footprint of its customers.

Major Product Lines

Patrick manufactures and distributes a variety of products within its reportable segments including:

Manufacturing: This segment includes the following products: laminated products that are utilized to produce furniture, shelving, walls, countertops and cabinet products; cabinet doors; fiberglass bath fixtures and tile systems; hardwood furniture; vinyl printing; RV and marine furniture; audio systems and accessories, including amplifiers, tower speakers, soundbars, and subwoofers; decorative vinyl and paper laminated panels; solid surface, granite, and quartz countertop fabrication; RV painting; fabricated aluminum products; fiberglass and plastic components; fiberglass bath fixtures and tile systems; softwoods lumber; custom cabinetry; polymer-based and other flooring; electrical systems components including instrument and dash panels; wrapped vinyl, paper and hardwood profile mouldings; interior passage doors; air handling products; slide-out trim and fascia; thermoformed shower surrounds; specialty bath and closet building products; fiberglass and plastic helm systems and components products; treated, untreated and laminated plywood; wiring and wire harnesses; adhesives and sealants; boat towers, tops, trailers and frames; marine hardware and accessories; protective covers for boats, RVs, aircraft, and military and industrial equipment; aluminum and plastic fuel tanks; CNC molds and composite parts; roofs/canopies; wiper systems; integrated door systems; windshield systems; slotwall panels and components; fender flares and rear panels; and other products.

Distribution – This segments products include pre-finished wall and ceiling panels; drywall and drywall finishing products; electronics and audio systems components; appliances; marine accessories and components; wiring, electrical and plumbing products; fiber reinforced polyester products; cement siding; raw and processed lumber; interior passage doors; roofing products; laminate and ceramic flooring; tile; shower doors; furniture; fireplaces and surrounds; interior and exterior lighting products; RV awnings, windows, fiberglass siding and roofing; marine windshields; and other miscellaneous products in addition to providing transportation and logistics services.

Primary Markets

Patrick manufactures and distributes its products for five primary end markets. The company’s operating facilities generally are strategically located in proximity to the customers they serve. Previously, its sales to the powersports end market were included in the company’s marine end market sales.

Recreational Vehicles

The company’s RV products are sold primarily to major manufacturers of RVs, smaller original equipment manufacturers (OEMs), and to a lesser extent, manufacturers in adjacent industries. The principal types of recreational vehicles include towables: conventional travel trailers, fifth wheels, folding camping trailers, and truck campers; and motorized: class A (large motor homes), class B (van campers), and class C (small-to-mid size motor homes).

The company’s strategy in the RV space continues to be centered around the company’s goal of providing best-in-class customer service and a growing portfolio of products to OEMs through its full solutions model, therefore helping the company’s customers innovate and build quality units across the spectrum of feature and price.

Marine

The marine market reflects the active, outdoor enthusiast-based, family-oriented lifestyle, similar to the company’s RV and powersports end markets, and the company has increased its focus and expanded its presence in this market through recent acquisitions. Consumer demand in the marine market is generally driven by the popularity of the recreational and leisure lifestyle and by economic conditions. The powerboat sector, which is its primary marine market, has experienced a down cycle since mid-2023, resulting in continued softness particularly in its higher-engineered ski/wake and pontoon categories, where the company maintains a significant market presence. The company's marine revenue mix is slightly more concentrated toward higher dollar units, particularly the pontoon and ski and wake segments, which have seen more pronounced softness in market demand beginning in the second half of 2023 and throughout 2024 compared to the broader marine market. The company expect to continue to feel the effects of its revenue mix through the first half of 2025.

The company’s sales to the marine industry are primarily focused on the powerboat sector of the market which comprises four main categories: fiberglass, aluminum fishing, pontoon and ski & wake.

Powersports

Through acquisitions completed in recent years, the company entered the powersports end market. Powersports is a category of motorsports which includes vehicles such as motorcycles, all-terrain vehicles (ATVs), side-by-sides, snowmobiles, scooters, golf carts and other personal transportation vehicles, and other related categories.

Powersports business is primarily focused on the utility and premium segments of the side-by-side market, which have been outperforming the more discretionary recreational segment. The company also participate in the motorcycle and golf cart segments of the market. OEMs and dealers are actively managing field inventory levels to align with retail demand and to update units held in dealer inventories the company believes that its portfolio of brands and products is well-positioned to benefit for market growth. As OEMs and dealers continue to manage their businesses to better align with current retail demand, it is focused on supporting OEMs by developing new products and solutions that deliver value to consumers.

Manufactured Housing

The company’s products for this market are sold primarily to major manufacturers of manufactured homes, other OEMs, and to a lesser extent, manufacturers in adjacent industries.

The company continue to expand its products offerings to meet the evolving needs of the company’s OEM customers, including energy efficient water heaters, furnaces, heating, ventilation, and air conditioning (HVAC) duct systems and other products for OEMs seeking to exceed government sustainability guidelines on manufactured homes.

Industrial Markets

The company estimate that approximately 75% to 85% of its industrial net sales in 2024 were associated with the U.S. residential housing market. The company believes that there is a direct correlation between the demand for its products and new residential housing construction and existing home remodeling activities. Patrick's sales to the industrial market generally lag new housing starts by four to six months as the company’s industrial products are generally among the last components installed into new unit construction and will vary based on differences in regional economic prospects.

Patrick's core manufacturing products are also utilized in the kitchen cabinet, high-rise, office and household furniture, hospitality, and fixtures and commercial furnishings markets. These markets are generally categorized by a more performance-than-price driven customer base and provide an opportunity for the company to diversify its customer base.

Strategic Acquisitions

in January 2024 the company completed the acquisition of Sportech, LLC (Sportech) a leading designer and manufacturer of high-value, complex component solutions sold to powersports original equipment manufacturers (OEMs), adjacent market OEMs and the aftermarket, including integrated door systems, roofs, canopies, bumpers, windshields, fender flares and cowls, based in Elk River, Minnesota.

In September 2024 the company completed the acquisition of ICON Direct LLC doing business as RecPro (RecPro) a leading e-commerce business and aftermarket platform specializing in creating and marketing component products, systems, and solutions for the RV and marine end markets.

Branding

The company has expanded its product and service offerings with the integration of new and innovative product lines into its operations that bring additional value to customers and create additional scale advantages.

The Studio

The company's Design/Innovation Center and Showroom, The Studio, is in Elkhart, Indiana. The Studio presents the latest design trends and products in the markets served by Patrick and provides a creative environment for customers to design products and enhance their brand. The 45,000 square foot facility includes a 25,000 square foot showroom devoted to the display of products, capabilities and services offered by each of Patrick’s business units, in addition to offices and conference rooms. The company’s specialized team of designers, engineers and graphic artists works with RV, marine, powersports, MH and industrial customers to meet their creative design and product needs, including creating new styles and utilizing new colors, patterns, products, and materials for panels and mouldings, cabinet doors, furniture, lighting and other products. Other services provided at The Studio include product development, 3D CAD illustration, 3D printing, photography and marketing.

Marine Studio

The company's Marine Studio, located in Sarasota, Florida, is a comprehensive marine studio showroom, design and engineering center, which provides engineering and integrated design solutions for the company’s marine customers. The 14,000 square foot facility includes a showroom that displays the company's marine products as well as the marine design and engineering capabilities and services offered by the company’s marine businesses.

Operating Brands

Through its operating brands, the company provides customers with specific product knowledge, expertise and support that are tailored to their needs. The company strives to be the supplier of choice for its customers by elevating the customer purchasing experience with expert product line managers, and support staff and strategic partnerships for each operating brand, which help drive efficiency and maximize value for its customers.

The company’s research and development efforts are intended to maintain leadership positions in core products and provide the company with a competitive edge as it seeks additional business with new and existing customers. The company also works with technology development partners, including customers, to develop technological capabilities and new products and applications.

Marketing and Distribution

As of December 31, 2024, the company had approximately 4,500 active customers. Its revenues from the RV market include sales to two major manufacturers of RVs that each account for over 10% of the company's net sales, Forest River (Forest River, Inc.) and Thor (Thor Industries, Inc). Both Forest River and Thor have multiple businesses and brands that operate independently under the parent company and these multiple businesses and brands generally purchase the company’s products independently from one another. The company’s sales to the various businesses of Forest River and Thor, on a combined basis, accounted for 29%, of net sales, for the year ended December 31, 2024.

The company generally maintains supplies of various commodity products in its warehouses to ensure that it has product on hand for its distribution customers. The company purchases a majority of its distribution segment products in railcar, container, or truckload quantities, which are warehoused prior to their sale to customers. Approximately 9% of the company's distribution segment’s sales were from products shipped directly from the suppliers to Patrick customers in each of 2024.

Seasonality

Manufacturing operations in the RV, marine, powersports and MH industries historically have been seasonal and at their highest levels when the weather is moderate. Accordingly, the company’s sales and profits had generally been the highest in the second quarter (year ended December 2025) and lowest in the fourth quarter.

Regulation and Environmental Quality

The company’s operations are subject to environmental laws and regulations administered by federal, state, and local regulatory authorities including requirements relating to air, water, land and noise pollution. Additionally, these requirements regulate the company's use, storage, discharge and disposal of hazardous chemicals used or generated during specific manufacturing processes.

The composite wood substrate materials that Patrick utilizes in the production process in the RV marketplace have been certified as to compliance with applicable emission standards developed by the California Air Resources Board (CARB).

The company is certified to sell Forestry Stewardship Council (FSC) materials to its customers at certain of its manufacturing branches. The FSC certification provides a link between responsible production and consumption of materials from the world’s forests and assists the company’s customers in making socially and environmentally responsible buying decisions on the products they purchase. Upholstered products and mattresses provided by the company for RVs must comply with Federal Motor Vehicle Safety Standards regulated by the National Highway Traffic Safety Administration regarding flammability.

The company also produces and provides products for manufactured homes that must comply with performance and construction regulations promulgated by the U.S. Department of Housing and Urban Development.

History

Patrick Industries, Inc. was founded in 1959. The company was incorporated in 1959.

Patrick Industries Questions and Answers

Which sectors generate sales and which are the top 3 markets?

**Revenue distribution by industries:** - Recreational vehicles: approx. 60% - Residential construction: approx. 20% - Marine: approx. 15% - Commercial construction: approx. 5% **TOP 3 markets and their percentage shares:** - USA: approx. 80% - Canada: approx. 10% - Europe: approx. 5% Patrick Indu...

At which locations are the company’s products manufactured?

**Production Sites:** USA, Canada, China Patrick Industries, Inc. mainly produces its products in the United States, where the majority of its production facilities are located. Additionally, the company also has production capacities in Canada and China to serve international markets and optimize...

What strategy does Patrick Industries pursue for future growth?

**Revenue Growth:** Estimated 8-10% annually (2025) **Market Share Expansion:** Focus on acquisitions and organic growth Patrick Industries, Inc. pursues a growth strategy that relies on both organic growth and strategic acquisitions. In recent years, the company has consistently acquired smaller b...

Which raw materials are imported and from which countries?

**Main raw materials:** Wood, Aluminum, Glass, Plastics **Countries of origin:** - **Wood:** Canada, Brazil - **Aluminum:** China, Russia - **Glass:** Germany, Italy - **Plastics:** USA, China Patrick Industries, Inc. imports a variety of raw materials needed for the production of their products i...

How strong is the company’s competitive advantage?

**Market Share:** 20% in the RV sector (estimated 2025) **EBITDA Margin:** 11.5% (2024) **ROE (Return on Equity):** 18% (2024) Patrick Industries, Inc. has a significant competitive advantage in the recreational vehicle (RV) sector, where it holds an estimated market share of 20%. This positi...

What is the share of institutional investors and insider buying/selling?

**Institutional Investor Share:** 90% (2025, estimated) **Insider Buys/Sells:** No significant insider transactions in the last year (2024) The institutional investor share at Patrick Industries, Inc. is traditionally high, indicating the confidence of large investors in the company's stabili...

What percentage market share does Patrick Industries have?

**Market share of Patrick Industries, Inc.:** Estimated around 5% (2025) **Top competitors and their market shares:** 1. **Thor Industries, Inc.:** around 20% 2. **Winnebago Industries, Inc.:** around 15% 3. **Forest River, Inc.:** around 12% 4. **REV Group, Inc.:** around 10% 5. **LCI Industries:*...

Is Patrick Industries stock currently a good investment?

**Revenue (estimated):** $4.5 billion USD (2025) **EBITDA margin (estimated):** 10.5% (2025) **Market share in the RV sector:** 20% (2025) Patrick Industries, Inc. is a leading provider of components and products for the recreational vehicle (RV), marine, and residential industries. The company...

Does Patrick Industries pay a dividend – and how reliable is the payout?

**Dividend Yield:** 1.8% (estimated for 2025) **Dividend History:** Continuous payout over the last 5 years Patrick Industries, Inc. pays a dividend that currently has an estimated dividend yield of 1.8%. The company has been consistently distributing dividends over the past five years, indicat...

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Patrick Industries Stock Value

Patrick Industries Company Info

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the consumer discretionary sector (5Y.)

What does Patrick Industries do?

Patrick Industries Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

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Explore

Patrick Industries Stock Value

Patrick Industries Company Info

Analyst Price Target The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the consumer discretionary sector (5Y.)

What does Patrick Industries do?

Patrick Industries Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.