Patrick Industries Inc. shares dropped to a 52‑week low of $68.41 on Sept. 24, 2026, marking a 32.84% decline over the past year, a 37.6% fall in the last six months and a 35.3% slide year‑to‑date.
The company reported second‑quarter 2026 adjusted earnings of $1.29 per share, missing the Wall Street consensus of $1.38. Revenue rose to $1.04 billion, edging above expectations, driven by stronger performance in the marine, powersports and housing segments. However, wholesale shipments of recreational vehicles fell 16%.
Analyst houses revised their outlooks. Benchmark lowered its price target to $115, citing reduced shipment volumes in key segments. Truist Securities cut its target to $108 and reduced fiscal 2026‑27 earnings estimates amid softness in the RV market. BofA Securities further reduced its target to $85 and kept an Underperform rating following the earnings miss.
InvestingPro’s analysis flags the stock as undervalued relative to its fair‑value estimate, placing it on the platform’s most‑undervalued stocks list.
