Winnebago (WGO +2.2%), Thor Industries (THO +2.3%) and Drew Industries (DW +0.2%) are all moving higher again as the sector rally extends.
The two big catalysts this week were a strong earnings report from Thor and a bustling National RV Show in Louisville. BMO Capital was on the scene of the RV industry event, calling the mood "almost euphoric" and saying it see no signs of demand letup.
Drew Industries (NYSE:DW) named Brian Hall as Chief Financial Officer, effective immediately. Mr. Hall has served as the Company's interim CFO since September 26, replacing David M. Smith.
"We are pleased that Brian has agreed to become our new CFO," said Jason Lippert, Chief Executive Officer of Drew Industries. "His several years of experience in the RV industry, combined with the leadership and technical skills he has demonstrated since joining our Company and through this recent transition period, make him the ideal person to lead our financial team for the continued execution of our business strategies. Our executive management team and Board of Directors look forward to continuing to work with Brian in his new role."
Drew Industries (NYSE:DW) acquires assets of the seating and chassis component division of Atwood Mobile Product for $12.5M.
The deal is being run through Drew's Lippert subsidiary.
Atwood Mobile Products is a subsidiary of Dometic Group (OTC:DTCGF).
Products acquired in the acquisition include seating frames and related components, as well as Atwood's manual, power and scissor jacks, leveling systems and controls, couplers and hitch balls, fifth wheel landing gear and braking components.
"Atwood's chassis hardware products are a natural fit," notes a Lippert exec.
Thor Industries (THO +3.2%) tracks higher after the company blasts past estimates with its FQ4 report.
A positive spin on industry demand has shares of other recreational vehicle makers on the move, including Arctic Cat (ACAT +1.9%), Drew Industries(DW +1%), and Polaris Industries (PII +1.4%). Supplier Patrick Industries (PATK +5%) is also higher.
"During the fourth quarter, we saw continued year-over-year industry growth in most product categories and were able to capitalize on opportunities to expand our production capacity and output to meet the growing demand for affordably priced travel trailers and motorhomes," noted CEO Bob Martin.