Monaco Leads RV Stock Price Rebound
A strong earnings report issued by Monaco Coach Corp. today (Jan. 28) contributed to strong stock price gains by Monaco and several other RV manufacturers.
Monaco’s stock fell to a new 52-week low on Monday (Jan. 27) but, today, Monaco shares gained $2.19, or 18%, to close at $14.27 a share.
However, Monaco’s stock remains well below its 52-week high of $30.70 a share.
Meanwhile, shares of Winnebago Industries Inc. and Thor Industries Inc., until recently the RV industry’s two high fliers, also closed higher today.
Winnebago’s shares gained $2.86, or 8%, to close at $36.81, while Thor’s stock climbed 61 cents higher to close at $27.31.
During much of the second half of last year, Winnebago and Thor’s stocks traded near their 52-week highs. Winnebago’s 52-week high is $51.48 and Thor’s is $42.78.
But in recent weeks, Winnebago’s and Thor’s stock prices have trended lower towards the companies’ 52-week lows. Winnebago’s 52-week low is $31.85 and Thor’s is $21.05.
Coachmen Industries Inc. also saw its stock price gain 59 cents, or 4%, today to close at $14.93. Coachmen’s 52-week high is $19.50 and its 52-week low is $11.30.
RV stock prices have been sliding lower in recent weeks because of worries about the impact on RV sales and RV company profitability, from a possible war with Iraq, higher gasoline prices resulting in political turmoil in Venezuela and the chance of a double-dip recession.