Investors Reap Benefits from Reliable Patrick Industries

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Investors looking for a reliable source of income can count on Patrick Industries ($NASDAQ:PATK). Patrick Industries is a publicly-traded company that designs, manufactures, and distributes aftermarket components and materials for the RV, marine, industrial and specialty vehicle markets. It is a leading supplier of interior building products and materials, including: decorative vinyl, hardwood furniture, fiberglass, and aluminum trim and moldings. The company also provides wood paneling, countertops, and related products; and electrical and plumbing components, such as wires, cable assemblies, gas detectors, and plumbing pipes. With a strong portfolio of brands, the company has established a reputation as an industry leader.

Patrick Industries takes great pride in its commitment to quality and customer service; this has helped it gain an impressive following of loyal customers. The company’s financial performance remains stable and its shares are regularly traded on the NASDAQ. As such, investors can rely on Patrick Industries as a reliable source of income.

Market Price

On Tuesday, investors in Patrick Industries, Inc. (PATK) reaped the benefits of its reliable performance. PATK opened the day at $88.7 and closed at $87.1, a decrease of 1.5% from the previous closing price of 88.4. Despite this minor setback, investors can be confident that Patrick Industries will continue to deliver reliable results in the long-term. The company specializes in the manufacturing and distribution of building products for the RV, Manufactured Housing, Marine, Industrial, Commercial and Residential markets. Their robust portfolio of products ranges from cabinetry and furniture to interior trim parts and specialty products. They also supply products to recreational vehicle manufacturers, such as Thor Industries and Winnebago Industries.

They have also achieved record net sales in each of the last four quarters. Investors in Patrick Industries have been rewarded with consistent and reliable returns. Given their strong performance, investors can feel confident that Patrick Industries will continue to deliver reliable returns in the long-term. With a strong portfolio of products and a commitment to providing quality service, investors are sure to reap the benefits of a reliable Patrick Industries stock. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Patrick Industries. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Patrick Industries. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Patrick Industries. More…

Key Ratios Snapshot

Some of the financial key ratios for Patrick Industries are shown below. More…

Analysis

As GoodWhale, we have analyzed the fundamentals of PATRICK INDUSTRIES and come to the conclusion that it has a high health score of 8/10 when it comes to its cashflows and debt. This indicates that the company is capable of paying off debt and funding future operations. Furthermore, we classified PATRICK INDUSTRIES as ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. Given the strengths PATRICK INDUSTRIES has in dividend, growth, and profitability, investors with a dividend-oriented strategy, those focused on capital growth, or those seeking a reliable return on their investments may be interested in this company. Furthermore, given its weak performance in asset management, PATRICK INDUSTRIES may also be of interest to investors looking for an active role in asset management. More…

Peers

The Company’s segments include Recreational Vehicle Products, Manufactured Housing Products, Marine Products, and Commercial Products. Patrick Industries Inc was founded in 1959 and is headquartered in Elkhart, Indiana. The Company’s competitors include Chai Watana Tannery Group PCL, PT Goodyear Indonesia Tbk, Koda Ltd, and others.

– Chai Watana Tannery Group PCL ($SET:CWT)

Chai Watana Tannery Group PCL is a publicly traded company with a market capitalization of 1.76B as of 2022. The company’s return on equity is 11.99%. Chai Watana Tannery Group PCL is a tannery that produces and exports leather products. The company is based in Thailand and has been in business for over 50 years.

– PT Goodyear Indonesia Tbk ($IDX:GDYR)

The company’s market capitalization is 533 billion as of 2022, and its return on equity is 3.59%. The company produces and sells tires and other rubber products. It is based in Indonesia and has operations in various countries in Asia, Europe, and North America.

– Koda Ltd ($SGX:BJZ)

Koda Ltd is a market leader in providing innovative software solutions to the energy sector. The company has a strong focus on delivering customer value and has a proven track record in delivering high quality products and services. Koda Ltd has a market capitalisation of $39.05 million as of 2022 and a return on equity of 8.61%. The company is well positioned to continue its growth trajectory and deliver shareholder value in the future.

Summary

Patrick Industries is an attractive option for investors due to its steady income stream, low levels of debt, and favorable performance in the markets. The company has a long-term track record of consistent growth and profitability. It pays a regular dividend, and generally has healthy free cash flow. Its size and diversified business model make it more resilient to economic downturns than other, smaller stocks.

Its share price has also outperformed the market in recent years, with a high return on equity and a strong balance sheet. With a focus on organic growth, acquisitions, and partnerships, Patrick Industries has the potential to continue generating strong returns for investors in the years to come.