Patrick Industries (PATK) trades at an attractive valuation given the strong growth and shift away from the weaker manufactured housing market towards the stronger recreational vehicle market.
PATK manufacturers component products and distributes building products and materials for the recreational vehicle (RV), manufactured housing (MH) and industrial markets in the U.S. PATK operates 14 manufacturing facilities and 13 warehouse and distribution centers in 11 states.
Manufactured products include decorative panels, countertops, mouldings, doors, hardwood furniture and exterior graphics.
Distributed products include pre-finished wall and ceiling panels, drywall, electronics, wiring, electrical, plumbing, cement siding, doors, roofing, flooring, furniture, fireplaces and lighting.
PATK survived the financial crisis (not an insignificant accomplishment given the multiple industry bankruptcies)...