Starting To Buy Camping World (NYSE:CWH)

I highlighted my sale of Camping World Holdings (CWH) earlier this summer. I thought the share price at $30 was starting to get a little rich. I subsequently sold my shares at $34.

Covid-19 served as a tailwind and boosted camping and RV demand. 2020 has been a summer where most Americans have not taken any international vacations, attended concerts or sports events. It has been the summer of camping.

This week, CWH held their annual investor day. After reviewing the material, I am now more bullish on the company. I think a valuation of $30 is conservative and the company is most likely worth closer to $50 per share. Subsequently, I will be accumulating shares in the $25-30 range.

Valuation is Solid

The company is currently valued at $2.7 Billion. The enterprise value is $5.0 Billion.

The company is now projecting $500 million in Adjusted EBITDA in 2021. Furthermore,

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