TRG Still Bullish on RV Industry’s ‘Blue Bloods’
Editor’s Note: The Thompson Research Group (TRG) tracks the RV industry for its investor clients. Here are excerpts from a recent client newsletter following release this week of the year-end retail sales figures from Statistical Surveys Inc. (SSI). Towable retail sales increased 4.9% in December to 5,940 units. This marked the first year-over-year increase in towable retail sales since October 2007.
“We are very encouraged to see the long awaited return to increases in towable retail sales. Coupled with Thor’s record breaking backlogs released two weeks ago and feedback from recent RV shows, it appears the towable segment is continuing to gain traction in a recovery. We believe next month’s retail sales data, which will include some of the previously mentioned shows, will show continued improvement. We remain highly focused on retail sales trends going into the spring and summer selling season, as this determines the trajectory and sustainability of the current RV industry recovery.”
TRG reiterated its “buy” ratings for Thor Industries Inc., Drew Industries Inc. and Winnebago Industries Inc.