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RV company stock prices have not been punished as much as companies in other sectors, but their prices have come down quite far since reaching highs this past summer.
But on thursday (Oct. 10), several RV company stock prices rebounded sharply, and in certain cases, it was because of positive developments reported by the companies.
Winnebago Industries Inc., for example, reported record fourth fiscal quarter and fiscal year 2002 sales and earnings after the market closed Wednesday, and investors rewarded the company Thursday by bidding its stock price up $3.30 a share, or 9%, to close at $39.75.
Monaco Coach Corp. also revealed plans earlier this week to expand its production of travel trailers and fifth-wheels, and its stock price climbed $1.52 a share, or 9%, to close at $17.72.
Meanwhile, motorhome manufacturer Rexhall Industries Inc. revealed on Thursday it has expanded its stock repurchase program, and its shares gained 61 cents, or 22%, in value today to close at $3.33.
Other RV manufacturer stocks posting significant gains today were Coachmen Industries Inc., which increased 65 cents, or 5%, to close at $14.00, and Thor Industries Inc., which gained $1.19, or 4%, to close at $31.02.
Cummins Inc. stock also increased $1.71 a share, or 9%, to close at $21.40, after announcing on Wednesday plans to consolidate its heavy-duty engine manufacturing in Western New York State.
An engine model that is used in diesel-pusher motorhomes is among the products that will eventually be assembled exclusively in Jamestown, N.Y.