Industrials

Sector Snap: Recreational Vehicles Shipments Climb

 

NEW YORK (AP) — Monthly wholesale shipments of recreational vehicles rose in August for the first time in nearly two years, a trade group said Monday as shares of companies that make such products climbed.

The Recreational Vehicle Industry Association said overall wholesale shipments of recreational vehicles last month increased 5.3 percent over August 2008 — the first monthly increase since October 2007.

The improvement stemmed from a 9.9-percent gain in the number of towable recreational vehicles that were shipped, the industry group reported.

Janney Montgomery Scott analyst John T.G. Rogers said the sector appears poised for steady growth.

"We continue to believe consumer tastes, demographics, and the economics of RV ownership will support continued growth over the long term," he wrote in a client note.

Rogers said White Plains, N.Y.-based Drew Industries Inc., which makes parts for recreational vehicles, will be a major beneficiary of the sector's return to growth.

"Management has done an excellent job of managing costs during the downturn, and with its strong balance sheet and adequate access to capital, Drew is well positioned to capitalize on competition weakness," the analyst said, reiterating his "Neutral" rating on the stock.

TheStreet Premium Services

Jim Cramer
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
OptionsProfits
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn More
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
Dow Jones S&P 500 NASDAQ 10-Year Note
12,393.45 1,310.33 2,827.34 15.81
Oil *
101.78
DOWN
26.41
DOWN
2.99
DOWN
10.02
DOWN
0.44
10 Yr
1.58%
SPDR Gold
151.62
-0.21%
-0.23%
-0.35%
-2.71%
Data delayed 20 minutes

Top Stories and Tools

Articles From

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

We respect your privacy.
Podcasts

Connect with TheStreet