DA Davidson lowered the firm’s price target on Patrick Industries (PATK) to $111 from $114 and keeps a Neutral rating on the shares. The firm cites the company’s Q3 earnings miss and a cut in operating margin guidance, also noting that the management updated its industry outlooks, with strength in the Manufactured Housing segment being more than offset by weakness in the marine, RV, and powersports segments, the analyst tells investors in a research note.
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Read More on PATK:
- Patrick Industries price target lowered to $136 from $160 at Raymond James
- Patrick Industries Sees Sales Growth Amid Strategic Moves
- Patrick Industries Reports Q3 Growth Amid Acquisitions
- Patrick Industries reports Q3 EPS $1.80, consensus $1.83
- PATK Earnings Report this Week: Is It a Buy, Ahead of Earnings?
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