StoneX cuts Patrick Industries stock price target on weaker RV outlook

StoneX has lowered its price target on Patrick Industries (NASDAQ:PATK) stock to $100, down from $115, while maintaining a Buy rating. The stock is currently trading at $64.20, near its 52-week low of $63. The firm has revised its fiscal 2026 and fiscal 2027 estimates, citing a weaker recreational vehicle outlook and expectations for a delayed sector recovery.

StoneX highlighted suppliers as the strongest position in the RV value chain, with Patrick Industries standing out as the most robust business model. The company now projects $0.98 in adjusted earnings per share for the upcoming quarter and $4.20 for the full year. The stock's P/E ratio stands at 15.25, and 3 analysts have revised their earnings estimates downward for the next period.

Patrick Industries reported Q2 2026 adjusted earnings of $1.29 per share on $1.04 billion in revenue, falling short of analysts' expectations of $1.38. Despite a 16% decline in RV wholesale shipments, revenue was bolstered by better performance in marine, powersports, and housing sectors. Other firms, including BofA Securities and Truist Securities, have also reduced their price targets for Patrick Industries, attributing the changes to softness in the RV segment and reduced shipment volumes.