Patrick Industries has delivered a perfect 4-for-4 earnings beat streak with an average surprise of 8.6%, and trades at a PEG of 0.27 with 21% analyst upside, though a confirmed death cross and declining revenue trend present near-term technical headwinds.
Thesis pillars
- Perfect Earnings Beat Streak↓Deteriorating
- Peg Discount Valuation↓Deteriorating
- Volume Accumulation Signal↑Improving
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Feb 19, 2026· older than 90 days
Patrick Industries, Inc. (PATK) Stock Analysis
Recovery setup
Consumer Cyclical · Recreational Vehicles
Sell if holding. Analyst target reached at $84.68 — A.R:R 0.1:1 is below the 1.5:1 minimum. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: V7 low-quality RISK_OFF penalty: -0.5 (Q=4.2).
Patrick Industries manufactures and distributes building products and components for the RV (45% of 2025 net sales), marine, powersports, manufactured housing, and industrial markets through approximately 191 manufacturing plants and 50 distribution facilities in 25 states.... Read more
Sell if holding. Analyst target reached at $84.68 — A.R:R 0.1:1 is below the 1.5:1 minimum. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: V7 low-quality RISK_OFF penalty: -0.5 (Q=4.2). Chart setup: Death cross but MACD improving, RSI 80. Score 5.5/10, high confidence.
Passes 7/9 gates (positive momentum, clean insider activity, no SEC red flags, news events none recent, earnings proximity 90d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: speculative.
About Patrick Industries, Inc.
About Patrick Industries, Inc.
Patrick Industries delivered 2025 net sales across five end markets — RV at 45%, manufactured housing at 17%, marine at 15%, industrial at 13%, and powersports at 10% — through 191 manufacturing plants and 50 warehouse and distribution facilities in 25 states. The Manufacturing segment contributed 74% of consolidated net sales and Distribution 26%. Over three years, the company deployed approximately $560 million in acquisitions.
Patrick generates revenue by selling fabricated components and distribution products to OEMs and dealers across its two reportable segments. In the RV segment, Forest River and Thor together accounted for 28% of consolidated net sales in 2025; in manufactured housing, three OEMs — Clayton Homes, Champion Homes, and Cavco Industries — commanded roughly 86% of MH retail unit shipments. Raw materials — principally lauan, gypsum, particleboard, aluminum, fiberglass, and softwood and hardwood lumber — are sourced from commodity markets and international suppliers in China, Indonesia, Vietnam, Malaysia, Mexico, and Canada. Evolving U.S. tariff policy exposes input costs to change, and the company relies on price pass-throughs to customers but notes no assurance on full or timely recovery. Competition in each product line is primarily regional and local; the company estimates a substantial capital commitment would be required for any competitor to replicate its national scale.
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Patrick's RV business is structurally tied to consumer confidence, employment rates, financing availability, and fuel costs — factors the 10-K characterizes as cyclical and beyond company control that have adversely affected past results during recessions. The filing notes that 2025 dealer inventory levels remained below historical norms, with replenishment dependent on retail demand recovery. A prolonged consumer spending contraction could compress OEM production orders and reduce demand for the components that have historically made the RV segment Patrick's single largest revenue source.
See also: Consumer Cyclical · Recreational Vehicles
From Patrick Industries, Inc.'s most recent 10-K filing, extracted June 11, 2026.
Recent developments
updated Nov 2, 2026Recent Developments — Patrick Industries, Inc.
Latest news
- NEWS Patrick Industries to Participate in Upcoming Investor Conferences — fiscal.ai Nov 2, 2026 neutral
- NEWS PATK|Patrick Industries Inc|Price:88.200|Chg%:+0.320 - TradingKey — TradingKey Jul 28, 2026 positive
- NEWS Patrick Industries Inc (PATK) Risk Assessment: Volatility, Financial Risk & Investment Risk - TradingKey — TradingKey Jul 28, 2026 negative
- NEWS Patrick Industries Inc (PATK) Valuation: PE, PB & Fair Value Analysis - TradingKey — TradingKey Jul 28, 2026 neutral
- NEWS Patrick Industries, Inc. (PATK) Q1 2026 Earnings Report - Results, Call & Slides - TipRanks — TipRanks Jul 23, 2026 neutral
Latest item Nov 2, 2026 · Generated 2026-11-05T11:49:11Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- MEDIUMCustomerForest River and Thor28%10-K Item 1: 'The Company's sales to the various businesses of Forest River and Thor, on a combined basis, accounted for 28% ... of our consolidated net sales'
- MEDIUMProductRV market45%10-K Item 1A: 'the Company's net sales to the RV industry were approximately 45% and 44%, respectively, of consolidated net sales'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
1 floor-breaker
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Analyst target reached at $84.68 — A.R:R 0.1:1 is below the 1.5:1 minimum. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: V7 low-quality RISK_OFF penalty: -0.5 (Q=4.2). Chart setup: Death cross but MACD improving, RSI 80. Prior stop was $78.75. Score 5.5/10, high confidence.
Analyst target: $85.50 (+1.0% upside). Prior stop was $78.75. Stop-loss: $78.75.
Analyst target reached - limited upside remaining; V7 low-quality RISK_OFF penalty: -0.5 (Q=4.2); Sector modifier (Consumer Cyclical): -1.5.
Patrick Industries, Inc. trades at a P/E of 21.9 (forward 16.7). TrendMatrix value score: 7.3/10. Verdict: Sell.
17 analysts rate PATK, with a consensus score of 3.9/5. 11 analysts publish price targets averaging $98.
What does Patrick Industries, Inc. do?Patrick Industries manufactures and distributes building products and components for the RV (45% of 2025 net sales),...
Patrick Industries manufactures and distributes building products and components for the RV (45% of 2025 net sales), marine, powersports, manufactured housing, and industrial markets through approximately 191 manufacturing plants and 50 distribution facilities in 25 states. Manufacturing (74%) and Distribution (26%) segments sell primarily to OEMs with no long-term supply contracts.