5 Best RV and Camping Stocks to Buy Now

4. Fox Factory Holding Corp. (NASDAQ:FOXF)

Number of Hedge Fund Holders: 16

Fox Factory Holding Corp. (NASDAQ:FOXF) is an auto parts manufacturer. The company produces mid- and high-end suspensions for all vehicles, including mountain bikes and recreational vehicles.

On October 5, Truist analyst Michael Swartz reiterated a Buy rating on Fox Factory Holding Corp. (NASDAQ:FOXF)’s shares and lowered the price target to $108 from $130. One of the reasons for price target revision is the worries around the general macro environment and consumer spending uncertainties. According to the analyst, these factors are likely to pressure the near-term earning outlooks of the recreation and leisure segment.

Fox Factory Holding Corp. (NASDAQ:FOXF) is one of the best RV stocks due to its past financial performance. In the last 5-years, the company managed to maintain an annual earnings growth of 26.7% compared to the industry average of 12.2%. Furthermore, in the previous twelve months, Fox Factory Holding Corp. (NASDAQ:FOXF) experienced a 20.7% earnings growth compared to the average industry decline of 17.5%.

Here is what Polen Capital had to say about Fox Factory Holding Corp. (NASDAQ:FOXF) in its Q1 2022 investor letter:

“We believe Fox Factory is in good fundamental shape. Its management team is clear and consistent about what will drive value and durable growth for its business that is best known for its off-road racing suspension products. Despite supply chain, COVID-19, and operational challenges, the company has been one of our top performers since inception. We added to our position over the quarter, given what we believed to be the company’s attractive valuation.”