One investment firm downgraded National RV Holdings Inc. stock today (Feb. 2) and another brokerage lowered its 2001 earnings estimate for National RV.
CIBC World Markets downgraded National RV to “hold” from “strong buy,” and A.G. Edwards & Sons lowered its 2001 earnings estimate for National RV to 77 cents per share, from $1.33.
National RV reported its fourth quarter and full year 2000 earnings Thursday (Feb. 1), and the company earned only 4 cents a share during the final three months of 2000 and $1.07 a share for the entire year. CIBC lowered its rating for National RV stock because National RV executives were “cautious” in their sales outlook for the first half of 2001, according to CIBC analyst Daniel Gillies.
A.G. Edwards lowered its earnings estimate for National RV because it believes the RV industry, and the motorhome sector in particular, has “little fuel left to drive the industry as in 1998 and 1999.” A.G. Edwards analysts Mark B. Johnson and Craig Clark believe “consumers are tapped out” and that the RV industry will operate “below trendline” in 2001 and possibly 2002.
A.G. Edwards lowered its 2001 earnings estimate for Monaco on Jan. 23 and on Thursday (Feb. 1) it downgraded Monaco stock to “maintain” from “accumulate.” Currently, Monaco shares “are adequately priced” by the stock market, according to the St. Louis-based firm.