Results Drive These Automotive Stocks Higher
The automotive industry is struggling with systemic issues but, by all accounts, still doing quite well. While the major OEMs are cutting back on production sales remain robust and the outlook for the industry is healthy. Today, we’re looking at three under-the-radar stocks in the automotive industry benefiting from strong secular demand. One thing these companies have in common is better than expected results but there are other commonalities as well. They also all pay safe dividends and trade a discount relative to the broad market, and they are all investing in growth.
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Patrick Industries, Supplier To The RV Market
Patrick Industries (NASDAQ: PATK) is not a pure-play on the automotive industry but it is sitting pretty as a manufacturer of parts and components for the RV industry. The RV industry is growing at a high-double-digit rate and momentum appears