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Patrick Industries A Buy

|Includes: Patrick Industries, Inc. (PATK)

The Chart of the Day is Patrick Industries (NASDAQ:PATK). I found the stock near the top of the New High List when I sorted it for frequency. Since the Trend Spotter signaled a buy on 8/20 the stock is up over 15.77%.

It is a manufacturer and supplier of building products and materials to the manufactured housing and recreational vehicle industries. They are expanding as a supplier to certain other industrial markets, such as furniture manufacturing, marine and the automotive aftermarket. They manufacture decorative vinyl and paper panels, cabinet doors, counter tops, aluminum extrusions, drawer sides and wood adhesives.

Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 15 new highs and up 23.09% in the last month
  • Relative Strength Index 74.67%
  • Barchart computes a technical support level at 28.53
  • Recently traded at 29.92 with a 50 day moving average of 24.64


Fundamental factors:

 

  • Market Cap $306.84 million
  • P/E 12.99
  • At the present time no analysts are following he stock
  • Revenue increased 30.50 this year
  • Earnings increased 218.00% this year
  • Financial Strength is C++


This stock is not followed by Wall Street so we have to rely on the technical indicators. Set your exit at the 50 day moving average.