This is a great company in a bad industry at a terrible time. THO, with its very strong balance sheet, will weather the storm. The lack of capital available for financing RVs is likely to be a problem for some time. THO is positioned well within the sector due to its focus on towables rather than motorized vehicles. The RV industry ultimately will do better when the aging baby boomers actually retire.
The stock is dirt cheap on any metric, whether trailing PE, trailing P/S or P/BV. Earnings will be down for a couple of years, but the company will come out of the recession with larger market share.
