Patrick Industries, Inc. (PATK) is well positioned in an industry that should benefit from a demographic wave of retiring baby boomers. The company manufactures component products and distributes building products and materials for the recreational vehicle (RV) and manufactured housing (MH) industries. Between 2011 and 2016 wholesale RV shipments increased more than 65% and that trend is expected to continue as the baby boomer generation swells the ranks of the retired and semi retired.
PATK has been achieving excellent growth due to its aggressive approach to strategic acquisitions and through the development of a significant number of new products.
In addition to the above, PATK has an expected value that is in excess of its current price. The current trend of price is up and appears to be strengthening. While volume in this instrument is lower than previously, this is mainly due to the holiday period. However, as the new year goes on, it appears this stock is under accumulation.
In September of 2016, the company was ranked #41 on Fortune’s list of fastest growing companies. It was also named Indiana public company of the year for 2016.
PATK has one of the highest FACTS scores in its sector and receives Institutional Shareholder Service’s highest ranking for audit integrity.