12 Best RV and Camping Stocks To Buy Now

9. Polaris Inc. (NYSE:PII)

Number of Hedge Fund Holders: 20

Polaris Inc. (NYSE:PII) is an American automotive manufacturer and recreation vehicle company. It designs and manufactures power sports vehicles, including off-road vehicles, all-terrain vehicles, snowmobiles, and side-by-side vehicles.

In the third quarter of 2024, Polaris Inc. (NYSE:PII) reported sales of $1.72 billion, reflecting a significant decline of 23% compared to the previous year. This drop in sales is largely attributed to ongoing challenges in consumer confidence and retail demand.

To address these market conditions, the company is focusing on managing dealer inventory and improving operational efficiency. Polaris Inc. (NYSE:PII) aims to reduce dealer inventory by 15% to 20% by year-end, which is essential for maintaining a healthy dealer network and long-term success. Despite the current retail challenges, Polaris Inc. (NYSE:PII) remains committed to innovation and cost management, which are vital for achieving its growth targets and enhancing shareholder value.

Polaris Inc. (NYSE:PII) announced plans to lower production and shipments to protect its dealer network in July, which contributed to the sales decline in Q3. While these decisions negatively impacted short-term results, they were necessary to support strong dealer partnerships. The company also reported a 7% decrease in retail sales, driven by persistent inflation and high interest rates affecting consumer spending.

Despite market challenges, Polaris Inc. (NYSE:PII), as an industry leader in innovation, continues to invest strategically in research and development. The company has made new product introductions over the past 18 months, and it plans to enter 2025 with the most compelling lineup of products.

Overall, Polaris Inc.’s (NYSE:PII) focus on operational efficiency and commitment to innovation make it one of the best RV stocks.

According to Insider Monkey’s database of over 900 hedge funds, 20 hedge funds held stakes in Polaris Inc. (NYSE:PII) in Q2 2024. Additionally, the 12-month median price target for Polaris Inc.’s (NYSE:PII) stock set by analysts indicates a potential increase of almost 9% from the stock’s current price.