RV company stock prices soared higher today (Jan. 16) after Winnebago Industries Inc. announced it was increasing production due to robust dealer and consumer demand for its motorhomes.
Winnebago’s stock gained $3.80 a share, or 10%, to close at $40.70. Earlier in the trading day, New York Stock Exchange-listed Winnebago shares reached as high as $41.45, surpassing its previous 52-week high of $41.32 a share.
Winnebago’s announcement apparently was a factor in lifting the stocks of Coachmen Industries Inc., Monaco Coach Corp. and Thor Industries Inc. to new 52-week highs.
Monaco shares gained $3.36, or 15%, today to close at $26.35. Along the way, Monaco stock climbed as high as $26.49 today, shattering its previous 52-week high of $23.75.
Meanwhile, Coachmen gained 95 cents, or 7%, today to close at $14.27. It climbed as high as $14.90, eclipsing its previous 52-week high of $13.75.
Thor, which has set new 52-week highs on numerous occasions the last two months, gained 74 cents today to close at $47.24. Earlier in the trading day, Thor stock climbed as high as $47.60, breaking its previous 52-week high of $46.54.
The performance of the four RV manufacturers’ stocks stood in dramatic contrast to the broader market. The Dow Jones Industrials Average fell 2.1% and the Nasdaq Composite fell 2.8% after computer memory chip maker Intel announced it will reduce its capital spending in anticipation of a weak tech sector recovery.
However, the RV industry has a track record of being a leading economic indicator and Winnebago’s report before the stock market opened today clearly convinced many investors that the RV sector will outperform the general economy at least in the near term.