Camping World

Shares of recreational vehicle company Camping World (CWH - Get Report)  were falling sharply Thursday after the company reported second-quarter earnings below analysts' expectations.

Shares declined 17.07% to $8.61 in trading Thursday.

The company reported a 2.3% increase in revenue to $1.474 billion and earnings of 54 cents a share. Analysts were expecting the company to report revenue of $1.45 billion with earnings of 66 cents.

"Despite some of the headwinds across the new RV market, which were evidenced by a significant decline in both new RV wholesale shipments and RV registration reports, we grew both revenue and unit volume and achieved close to $100 million in adjusted EBITDA in the quarter," said CEO Marcus Lemonis. 

Meanwhile, analysts at J.P. Morgan downgraded the stock to neutral from overweight.

"That the market for new RVs is softer is not the thrust of our downgrade, as end-markets have been softening for just over a year now, with the decline in CWH shares we judged having outpaced the deterioration in fundamentals for most of that period, allowing us to remain Overweight; what prompts our downgrade now is that the deterioration in profitability that began to accelerate in recent quarters was forecast by management yesterday after the close to in fact worsen further in 2H19," JPMorgan analyst Ryna Brinkman wrote.