JPMorgan Lowers Camping World Price Target to $9.00

JPMorgan Chase & Co. has revised its outlook for Camping World (NYSE:CWH), lowering its price target from $11.00 to $9.00. The adjustment was disclosed in a research note issued to investors on Tuesday. Despite the reduction, JPMorgan maintained an overweight rating on the stock, suggesting a potential upside of 94.22% from its previous close.

The price target change follows a series of other recent analyst reports on Camping World. Weiss Ratings upgraded the stock from a sell (e+) to a sell (d) rating in early August. KeyCorp also lowered its price objective from $12.00 to $9.00, while Raymond James Financial reiterated an outperform rating. Citigroup reduced its target from $9.00 to $8.00, and Truist Financial dropped its target from $14.00 to $10.00, both maintaining buy ratings.

Camping World's stock has seen mixed performance, trading at $4.63 on Tuesday with a 52-week range of $3.96 to $17.15. The company reported earnings per share of $0.57 for the latest quarter, meeting analyst estimates. However, revenue of $1.93 billion fell short of expectations and marked a 2.1% decline year-over-year. The stock has a market cap of $478.67 million and a beta of 2.15, indicating higher volatility compared to the broader market.

Institutional investors have been active in adjusting their holdings. Caitong International Asset Management, Allworth Financial LP, and Public Employees Retirement System of Ohio recently acquired or increased their stakes in Camping World. Institutional investors and hedge funds collectively own 52.54% of the company's stock.