Posted: 6 month(s) and 29 days(s) ago   |   0 Comment(s)   |   Rating: 0 0
Posted by: ToddShriber

Here's another update on a name that I've mentioned several times in the past. Lumber producer Patrick Industries (PATK.NSDQ) soared 79 cents, or 49%, to $2.40 today, making the stock the top gainer on the Nasdaq. Volume was brisk at 2.5 times the daily average.

For the second quarter of 2009, Patrick reported a net loss of $0.7 million or $0.07 per diluted share, compared to net income of $1.9 million or $0.25 per diluted share for the 2008 period. All things considered, that loss wasn't all that bad given Patrick's exposure to the residential real estate sector.

That exposure actually makes Patrick Industries worth a look here because from the housing sector has been getting progressively better over the past few weeks. Patrick Industries also has exposure to auto and recreational vehicle industries and if the economy really starts to perk up, that could spark further buying in Patrick shares.

For more on Patrick Industries, go here: http://www.patrickind.com

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