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Patrick Industries, Inc. (PATK) manufactures and distributes building products and materials for the recreational vehicle, manufactured housing, and industrial markets in the United States and Canada.
Its Manufacturing segment manufactures and fabricates decorative vinyl and paper laminated panels; fabricated aluminum products; wrapped vinyl, paper, and hardwood profile moldings; solid surface, granite, and quartz countertops; cabinet doors and components; hardwood furniture; fiberglass bath and shower surrounds and fixtures; fiberglass marine helms; fiberglass and plastic component products; slide-out trim and fascia; interior passage doors; RV paintings; softwoods lumber; simulated wood and stone products; slotwall panels and components; and others. It also offers custom fabrication, edge-banding, drilling, boring, and cut-to-size services.
The companys Distribution segment distributes pre-finished wall and ceiling panels, drywall and drywall finishing products, electronics, wiring products, electrical and plumbing products, cement siding products, fiber reinforced polyester products, interior passage doors, roofing products, laminate and ceramic flooring products, shower doors, furniture, fireplaces and surrounds, interior and exterior lighting products, and others.
The company markets its products under the Adorn, Custom Vinyls, Patrick Distribution, AIA Countertops, Quest Audio Video, Interior Components Plus, Gravure Ink, Praxis Group, Infinity Graphics, Décor Manufacturing, Gustafson Lighting, Creative Wood Designs, Middlebury Hardwood Products, Frontline Manufacturing, Premier Concepts, West Side Furniture, Precision Painting, Carrera Custom Painting, Millennium Paint, Foremost Fabricators, PolyDyn3, Charleston, Better Way Products, SCI, North American, and Decorative Dynamics brand names.
Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock. Note that the company's main customers such as Winnebago Industries (WGO) and Thor Industries (THO) are reporting strong results which should boe well for PATK.
52-Weeks Trading Range: $29.28 - $76.75
Entry Point: $76.75
Stop Loss: $72.00
Target Price: $84.45
PATK closed at $81.50
