11 Best RV and Camping Stocks To Invest In

Published on February 23, 2024 at 9:59 am by Hamna Asim in Hedge Funds, News

In this article, we discuss 11 best RV and camping stocks to invest in. If you want to skip our discussion on the RV and camping market, head directly to 5 Best RV and Camping Stocks To Invest In.

The RV Industry Association (RVIA) predicts a notable rebound in RV wholesale shipments for 2024, with expectations ranging between 343,900 to 356,300 units, representing an 11.8% to 15.8% increase over 2023 figures. The industry faced challenges in 2023, including high-interest rates and reduced consumer buying power, leading to a decline in shipments. However, stabilized interest rates in 2024 are poised to drive recovery, with RVIA highlighting the enduring appeal of RVing as a cost-effective way to enjoy outdoor experiences. The global RV market is also experiencing robust growth, valued at $51.2 billion in 2021 and projected to expand at a CAGR of 7.7% through 2031. The positive long-term outlook for the RV industry reflects sustained interest in RVing and evolving consumer preferences. Despite past challenges, the industry is expected to thrive in 2024, meeting growing demand and emphasizing the enduring appeal of RVing.

On the other hand, the campground industry in North America is undergoing transformation with technological innovations, sustainability efforts, and modern amenities reshaping the camping experience. The demand for reliable Wi-Fi access in campgrounds has surged, driven by the ‘work from home’ and ‘workation’ movements, where campgrounds become appealing locations for remote work. A 2023 report indicated that Wi-Fi significantly influences campers’ length of stay, growing from 14% in 2017 to 40% in 2022. Similarly, the increasing popularity of electric vehicles and RVs is a growing trend, which poses both challenges and opportunities for campgrounds. As electric vehicles are projected to account for 58% of new car sales globally by 2040, campgrounds need to adapt by installing EV charging stations to cater to eco-conscious travelers. Transitioning to renewable energy sources, such as solar panels, not only reduces carbon footprints but also aligns with the growing trend of eco-aware consumerism. Campgrounds embracing green solutions are expected to attract a larger audience and contribute to a more sustainable future for the industry.

In the last five years, a surge in consumer interest driven by pent-up demand and a desire for a nature-oriented experience has led individuals to choose campgrounds and RV parks. This influx of new campers has created a heightened demand for upscale facilities and amenities, commonly found in competing rental properties and hotels. Responding to evolving consumer preferences, owners of campsites and RV parks have started incorporating features such as yurts, glamping tents, pools, and spas. According to IBIS World, the revenue in this sector has seen a compound annual growth rate (CAGR) of 4.3% over the past five years, reaching $10.7 billion, with a notable 4.4% increase in 2023 alone.

Younger generations, particularly Gen Z and millennials, are increasingly adopting the RV lifestyle, driven by a desire for freedom, flexibility, and remote work opportunities. Contrary to the traditional association of RV travel with older demographics, younger individuals are becoming a significant force behind the industry’s growth. Factors such as the COVID-19 pandemic, which led to a heightened interest in safe and socially distant vacation options, have further accelerated this trend. Social media platforms showcasing the RVing lifestyle have played a crucial role in attracting younger audiences. To meet the unique needs of these demographics, the RV industry is adapting by incorporating technology, providing eco-friendly options, and establishing vibrant RV communities. The future of RV travel is anticipated to be shaped by Gen Z and millennials’ preferences for immersive experiences, digital connectivity, and sustainable travel choices.

Some of the best RV and camping stocks to buy include Deckers Outdoor Corporation (NYSE:DECK), DICK’S Sporting Goods, Inc. (NYSE:DKS), and Camping World Holdings, Inc. (NYSE:CWH).

Photo by Roadpass on Unsplash

Our Methodology

We chose the top RV and camping stocks based on overall hedge fund sentiment toward each stock. We have assessed the hedge fund sentiment from Insider Monkey’s database of 933 elite hedge funds tracked as of the end of the fourth quarter of 2023. The list is arranged in ascending order of the number of hedge fund holders in each firm. Hedge funds’ top 10 consensus stock picks outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here).

Best RV and Camping Stocks To Invest In

11. BRP Inc. (NASDAQ:DOOO)

Number of Hedge Fund Holders: 15

BRP Inc. (NASDAQ:DOOO) is a Canadian company engaged in the design, development, manufacturing, distribution, and marketing of powersports vehicles and marine products. The company operates in two segments – Powersports and Marine. The Powersports segment includes year-round products like Can-Am ATVs, SSVs, and 3WVs, as well as seasonal products such as Ski-Doo and Lynx snowmobiles, Sea-Doo PWCs, pontoons, and Rotax engines for karts and recreational aircraft. The Marine segment offers boats and marine engine products.

On January 22, BRP Inc. (NASDAQ:DOOO) entered into an agreement with Bain Capital Integral Investors II for a secondary offering on a bought deal basis, facilitated by RBC Capital Markets. In this deal, RBC will purchase 2,000,000 subordinate voting shares at a public price of C$91 per share. Currently, Bain holds 20.8% of the issued shares and 33% of the voting power in BRP, but after the offering, it will retain 29.9% of the voting power with 13,796,615 multiple voting shares.

According to Insider Monkey’s fourth quarter database, 15 hedge funds were bullish on BRP Inc. (NASDAQ:DOOO), compared to 12 funds in the prior quarter. Steve Cohen’s Point72 Asset Management is the leading stakeholder of the company, with 382,317 shares worth $27.4 million.

Like Deckers Outdoor Corporation (NYSE:DECK), DICK’S Sporting Goods, Inc. (NYSE:DKS), and Camping World Holdings, Inc. (NYSE:CWH), BRP Inc. (NASDAQ:DOOO) is one of the best RV stocks to invest in.

10. REV Group, Inc. (NYSE:REVG)

Number of Hedge Fund Holders: 18

REV Group, Inc. (NYSE:REVG) is involved in the design, manufacturing, and distribution of specialty vehicles, along with aftermarket parts and services globally. The company operates in three segments – Fire & Emergency, Commercial, and Recreation. The Recreation segment manufactures motorized and towable RV models and custom molded fiberglass products. It is one of the best RV stocks to invest in. On January 29, REV Group, Inc. (NYSE:REVG) announced a special dividend of $3 per share, which was paid to shareholders on February 16.

According to Insider Monkey’s fourth quarter database, REV Group, Inc. (NYSE:REVG) was part of 18 hedge fund portfolios, compared to 15 in the last quarter. Richard S. Pzena’s Pzena Investment Management is the leading stakeholder of the company, with 2.5 million shares worth $45.6 million.

9. MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Number of Hedge Fund Holders: 18

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) is engaged in the design, manufacturing, and marketing of recreational powerboats. The company operates through three segments – MasterCraft, Crest, and Aviara. The MasterCraft segment focuses on premium recreational performance sport boats for activities like water skiing, wakeboarding, and wake surfing. The Crest segment produces pontoon boats for general recreational boating, while the Aviara segment specializes in luxury day boats. MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) is one of the best RV stocks to monitor.

On February 7, MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) announced financial results for its second quarter of fiscal 2024 ended December 31, 2023. The company reported a non-GAAP EPS of $0.37 and a revenue of $99.5 million, topping market estimates by $0.14 and $3.97 million, respectively.

According to Insider Monkey’s fourth quarter database, 18 hedge funds were long MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT), same as the prior quarter. Coliseum Capital is the leading stakeholder of the company, with 2 million shares worth $45.3 million.

8. Winnebago Industries, Inc. (NYSE:WGO)

Number of Hedge Fund Holders: 19

Winnebago Industries, Inc. (NYSE:WGO) ranks 8th on our list of the best RV stocks. It is a manufacturer and seller of recreational vehicles and marine products primarily designed for leisure travel and outdoor recreation. The company operates in three segments – Towable RV, Motorhome RV, and Marine. On February 22, Xos, Inc. (NASDAQ:XOS), an electric commercial vehicle manufacturer, and Winnebago announced that they have formed a partnership to develop a fully electric chassis for Winnebago’s Specialty Vehicles division. The chassis will incorporate Xos’ established battery and electronics technology, tailored to meet Winnebago’s specific commercial applications.

According to insider Monkey’s fourth quarter database, Winnebago Industries, Inc. (NYSE:WGO) was found in 19 hedge fund portfolios, compared to 23 in the last quarter. Ken Fisher’s Fisher Asset Management is the leading stakeholder of the company, with 1.3 million shares worth $97.2 million.

7. YETI Holdings, Inc. (NYSE:YETI)

Number of Hedge Fund Holders: 19

YETI Holdings, Inc. (NYSE:YETI) specializes in designing, marketing, retailing, and distributing outdoor and recreation products under the YETI brand. Their product range includes hard and soft coolers, bags, outdoor living equipment, and accessories. The company also offers a variety of drinkware such as colsters, tumblers, bottles, and associated accessories under the Rambler brand. YETI Holdings, Inc. (NYSE:YETI) is one of the best RV and camping stocks to monitor.

On January 31, YETI Holdings, Inc. (NYSE:YETI) revealed its plans to acquire Mystery Ranch, a Montana-based company, for an undisclosed sum. Mystery Ranch is recognized as a top designer and manufacturer of durable load-bearing backpacks, bags, and pack accessories. Mystery Ranch has gained a global reputation in communities for crafting load-bearing equipment that excels in harsh environments.

According to Insider Monkey’s fourth quarter database, 19 hedge funds were long YETI Holdings, Inc. (NYSE:YETI), compared to 16 funds in the prior quarter. Ken Griffin’s Citadel Investment Group is the largest stakeholder of the company, with 1.5 million shares worth $79 million.

Wasatch Small Cap Growth Strategy made the following comment about YETI Holdings, Inc. (NYSE:YETI) in its Q3 2023 investor letter:

“YETI Holdings, Inc. (NYSE:YETI) was also a significant contributor. The company designs, markets and distributes coolers, beverage holders, and other types of outdoor and recreational gear. Last year, the stock was down because YETI issued a recall on a popular line of coolers due to defects in magnet-lined closures. That recall negatively impacted sales and earnings, especially during the important holiday shopping season. This year, YETI has benefited because the defects have been fixed and consumer spending has been strong. Going into 2023’s holiday shopping season, we think the stock will be supported by the company beating year-ago revenues and earnings. We recently met with the management team in Austin, Texas. We came away from the meeting with confidence in our investment thesis: YETI offers premium products at premium prices, generates high margins, self-funds its expansion without debt, and operates in a market that allows for double-digit annual revenue and earnings growth for years on end.”

6. Columbia Sportswear Company (NASDAQ:COLM)

Number of Hedge Fund Holders: 21

Columbia Sportswear Company (NASDAQ:COLM) is engaged in the design, sourcing, marketing, and distribution of outdoor, active, and everyday lifestyle apparel, footwear, accessories, and equipment globally. The company caters to mountaineering, climbing, skiing, snowboarding, trail, and camping enthusiasts. On February 1, Columbia Sportswear Company (NASDAQ:COLM) declared a quarterly dividend of $0.30 per share, in line with previous. The dividend is payable on March 22, to shareholders on record as of March 8.

According to Insider Monkey’s fourth quarter database, 21 hedge funds were bullish on Columbia Sportswear Company (NASDAQ:COLM), compared to 18 funds in the last quarter. Israel Englander’s Millennium Management is the biggest stakeholder of the company, with 285,307 shares worth $22.7 million.

In addition to Deckers Outdoor Corporation (NYSE:DECK), DICK’S Sporting Goods, Inc. (NYSE:DKS), and Camping World Holdings, Inc. (NYSE:CWH), Columbia Sportswear Company (NASDAQ:COLM) is one of the best RV and camping stocks to buy. It ranks 6th on our list.

Click to continue reading and see 5 Best RV and Camping Stocks To Invest In.

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Published on October 30, 2024 at by Inan Dogan, PhD

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Published on November 16, 2024 at by Insider Monkey Staff

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