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Investors who bought RV company stocks around Jan. 1 were, in most cases, happy campers at the end of the first quarter.
And there were some surprises among the top performers in terms of stock price gains.
The biggest winners during the first quarter were investors in Kit Manufacturing Co., a company that derives about half of its revenue from building towable RVs and the other half from manufactured homes.
Kit shares traded around $2.20 in early January but its stock closed 55% higher at $3.40 on Thursday (March 28), the last trading session of the first quarter.
Meanwhile, investors Coachmen Industries Inc., an RV and modular structures builder, saw the value of their stock climb 36% from the vicinity of $12 a share around Jan. 1 to $16.30 on Thursday.
Investors in other RV manufacturers, except for Fleetwood Enterprises Inc., also earned increases.
Fleetwood, which continues to incur losses at its towable RV and manufactured home retailing operations, began 2002 with a stock price around $11 a share and it closed Thursday at $10.80.
Here is how other RV manufacturing company stock prices performed during the first quarter:
Monaco’s shares gained around 10% from around $22 at the beginning of this year to $24.30 as of Thursday.
National RV stock climbed 25% from around $9.80 at the beginning of this year to $12.22 on Thursday.
Rexhall, a small motorhome builder in California, saw its stock price increase 6% from around $7.20 at the beginning of this year to $7.65 on Thursday.
Thor’s stock price soared 28% higher from around $37 at the beginning of this year to $47.30 on Thursday.
Winnebago shares increased in value almost 14% from around $37 at the beginning of this year to 41.99 on Thursday.
Rising stock prices are a sign that the investment community believes RV company profits will be higher in the future.