Camping World Holdings announced the acquisition of Lee’s Family Trailer in Windham for an undisclosed sum.
Camping World (CWH) expects the transaction to close in April. This will be the company’s first location in Maine. Camping World seeks to set up a recreation dealer platform in all 48 US states. At present, the company has agreements to acquire RV dealerships, under construction or pending land acquisition, in all 48 states.
Camping World CEO Marcus Lemonis said, “This achievement not only creates more convenience for our nearly 5.5 million unique customers but sets the stage for a web centric process to sell both new and used RVs nationwide completely online.”
The facility at Maine is the first of at least two locations in the state and will include a range of new and used recreational vehicles along with outdoor products and accessories.
Earlier this month, Camping World announced the acquisition of Flagg RV and the acquisition of two locations in the Northwest. (See Camping World stock analysis on TipRanks)
On Feb. 17 Robert W. Baird analyst Craig Kennison raised the price target on the stock to $44 (19% upside potential) from $38 and reiterated a Hold rating.
“RV industry demand surged 38% in 4Q and comments from key executives suggest confidence in results to be reported on Feb. 25. The RV market remains hot as consumers pursue the outdoors and Camping World appears to be capturing more than its fair share,” Kennison wrote in a note to investors.
The rest of the Street has a Moderate Buy consensus rating on the stock based on 2 Buys and 1 Hold. The average analyst price target of $45.50 implies about 23% upside from current levels. Thats after the stock rallied about 129% over the past year.