Wall Street Rewarding RV Industry's Investors
RV builders and suppliers posted an unusually strong session on Wall Street on Friday (June 7). And a breakout on an 11% gain by Thor Industries Inc. drew attention to three of the group's other stocks, Investors Business Daily reported.
RV shipments rose to more than 32,000 units in April, the highest level for the month since 2007. And the peak selling season for RVs is just beginning.
Thor reported adjusted EPS growth of 24%, easily clearing analyst expectations for a 13% pop. Revenue just met analyst forecasts. The company held its dividend steady at 18 cents, equal to about 1.7% on an annualized basis.
The stock rose in heavy trading Friday of 494,357 shares, clearing a $43.54 buy point. It also lifted shares to their highest mark since October 2007.
Winnebago Industries Inc. gained 4% in weak trade Friday. In this case, the weak trade is a positive. The possible buy point here is $21.42. Analysts see Winnebago's EPS rising 261% this fiscal year ending in August, on a 34% gain in sales, the best estimates in the group.
Two other stocks in the group, both thinly traded, are also set up in bases. Drew Industries Inc. has scooped out a shallow, three-month "cup" with a $38.92 buy point. Cavco Industries Inc. builds manufactured homes and park model RVs.