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Better than expected earnings reported today (April 16) by General Motors and Texas Instruments propelled the stock market higher and investors holding most RV company stocks also benefitted.
The majority of RV company shares closed higher today and five RV stocks — Coachmen, Flexsteel, Skyline, Spartan Motors and Thor — reached new 52-week highs.
The positive earnings reports today from GM and TI followed better than expected earnings issued Monday by Eli Lilly and Citigroup, and by General Electric on Friday. Consequently, more investors are becoming convinced that the economy is improving fast enough to lift corporate earnings in the future.
Here are details about the stock price movements of the RV firms whose shares reached new 52-week highs:
Coachmen stock climbed as high as $19.50 a share today before closing at $19.00, up 35 cents for the day.
Flexsteel shares gained 46 cents today to close at $17.10, a new 52-week high.
Skyline stock climbed as high as $33.55 today before closing at $33.51, up $1.31 for the day.
Spartan Motors shares climbed as high as $10.91 today before closing at $10.70, up 11 cents for the day.
Thor stock climbed as high as $58.51 today before closing at $58.00, up $1.00 for the day.