Raymond James Upgrades Outlook for Camping World Holdings Amid Strong Financial Projections
Analysts Predict Significant Growth for Camping World Holdings
On October 30, 2024, Raymond James upgraded Camping World Holdings (NYSE:CWH) from Market Perform to Outperform. This positive shift reflects growing confidence in the company’s future.
Price Target Forecast Offers Encouraging Upside
The average one-year price target for Camping World Holdings, as of October 22, 2024, stands at $27.44 per share. This target marks a 20.93% increase from the latest closing price of $22.69 per share, with estimates ranging from a low of $22.22 to a high of $36.75.
Steady Revenue Growth on the Horizon
Projected annual revenue for Camping World Holdings is estimated at $7,112 million, indicating an 18.44% rise. The non-GAAP earnings per share (EPS) is projected at 3.62, suggesting solid financial performance ahead.
Industry Fund Sentiment Overview
Currently, 375 funds and institutions are invested in Camping World Holdings, representing a decrease of 3.35% or 13 owners from the previous quarter. The average portfolio weight of these funds in CWH is 0.10%, which has increased by 22.42%. Institutional ownership has grown by 7.42% in the last three months, totaling 49,427,000 shares. The put/call ratio for CWH is 0.49, which reflects a bullish outlook among investors.
Abrams Capital Management maintains 5,109,000 shares, holding 11.32% ownership, with no change this quarter. In contrast, Eminence Capital has increased its shareholding from 2,416,000 to 4,344,000 shares, representing a 44.38% increase and a 31.21% rise in portfolio allocation since last quarter.
Other significant changes include: Capital Research Global Investors, which increased its holdings from 2,159,000 to 2,448,000 shares (up 11.79%), while also reducing its allocation by 29.50%. SMCWX – SMALLCAP WORLD FUND INC raised its shares from 1,908,000 to 2,171,000 (up 12.13%) but decreased its allocation by 24.74%. Crestview Partners II GP reported a slight increase from 1,908,000 to 1,914,000 shares, yet decreased its allocation by 40.60% over the last quarter.
Understanding Camping World Holdings
Based in Lincolnshire, Illinois, Camping World Holdings is the leading recreational vehicle and outdoor retailer in the United States. Offering a wide range of recreational vehicles, camping gear, maintenance services, and protection plans, Camping World has developed a strong customer base since its establishment in 1966. The company operates over 170 locations across 37 states and boasts a comprehensive online presence.
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The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.