Baird raised the firm’s price target on Patrick Industries to $105 from $95. The firm noted Patrick has agreed to acquire Sportech LLC, a leading component supplier to the powersports industry. Baird likes the strategic fit as Patrick establishes a wider footprint in the powersports market, building on the acquisitions of Rockford Fosgate, Wet Sounds, and Progressive Group.
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Read More on PATK:
- Patrick Industries, Inc. Signs Definitive Agreement to Acquire Sportech, LLC – a Leading Supplier of Premium Component Solutions to Powersports OEMs
- Patrick Industries signs definitive agreement to acquire Sportech for $315M
- Patrick Industries price target raised to $125 from $95 at Truist
- Patrick Industries initiated with an Outperform at BMO Capital
- Patrick Industries, Inc. Announces Increase to Regular Quarterly Cash Dividend
