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Our mission: Bringing practical business and technical intelligence to today's structured cabling professionals

For more than 30 years, Cabling Installation & Maintenance has provided useful, practical information to professionals responsible for the specification, design, installation and management of structured cabling systems serving enterprise, data center and other environments. These professionals are challenged to stay informed of constantly evolving standards, system-design and installation approaches, product and system capabilities, technologies, as well as applications that rely on high-performance structured cabling systems. Our editors synthesize these complex issues into multiple information products. This portfolio of information products provides concrete detail that improves the efficiency of day-to-day operations, and equips cabling professionals with the perspective that enables strategic planning for networks’ optimum long-term performance.

Throughout our annual magazine, weekly email newsletters and 24/7/365 website, Cabling Installation & Maintenance digs into the essential topics our audience focuses on.

  • Design, Installation and Testing: We explain the bottom-up design of cabling systems, from case histories of actual projects to solutions for specific problems or aspects of the design process. We also look at specific installations using a case-history approach to highlight challenging problems, solutions and unique features. Additionally, we examine evolving test-and-measurement technologies and techniques designed to address the standards-governed and practical-use performance requirements of cabling systems.
  • Technology: We evaluate product innovations and technology trends as they impact a particular product class through interviews with manufacturers, installers and users, as well as contributed articles from subject-matter experts.
  • Data Center: Cabling Installation & Maintenance takes an in-depth look at design and installation workmanship issues as well as the unique technology being deployed specifically for data centers.
  • Physical Security: Focusing on the areas in which security and IT—and the infrastructure for both—interlock and overlap, we pay specific attention to Internet Protocol’s influence over the development of security applications.
  • Standards: Tracking the activities of North American and international standards-making organizations, we provide updates on specifications that are in-progress, looking forward to how they will affect cabling-system design and installation. We also produce articles explaining the practical aspects of designing and installing cabling systems in accordance with the specifications of established standards.

Cabling Installation & Maintenance is published by Endeavor Business Media, a division of EndeavorB2B.

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Why Camping World Rose 9% in the First Week of 2023

camping world stock

Camping World (NYSE: CWH) rose 9% in the first week of 2023 due to valuation and yield. At the heart of the RV industry, the company should contract by 20% to 30% in 2023. Camping World stock trades at only 5x its earnings, about 6.7x versus the consensus for next year, and it pays a 10% yield. The company is growing in 2023 by acquisition, if not by any other metric.

Camping World: A Value in Every Way that Counts 

Camping World is valuable relative to its peers, not just the broad market, with its P/E of 6.7x next year's consensus. The next best value in the group is Winnebago at 7.35x, but it has too much exposure to the new RV market compared to Camping World, which has exposure to both the OEM/new market and the aftermarket. Others in the group, like Thor Industries (NYSE: THO) and LCI Industries (NYSE: LCII), trade above 10x their 2023 earnings estimates and all pay a much lower dividend. Winnebago (NYSE: WGO) is the weakest payer and only yields about 1.9% with shares at 7x forward earnings, while LCI Industries is the strongest. LCI Industries pays about 4.15% with shares at 10x earnings and has robust potential for distribution growth. 

However, Camping World's 10.25% dividend may be a red flag for investors because coverage appears to be limited by debt. The company's debt load has been decreasing steadily over the past years. However, coverage is still below 1.0, and the payout ratio relative to the 2023 Marketbeat.com analyst consensus figure is a little high, at 70%. In this scenario, it appears that Camping World may have to increase debt in 2023 or cut its dividend payment, which would not boost share prices. 

Expansion of the business may have caused the debt, which has been very aggressive over the past few years. The latest news includes acquisitions in Alabama and California that added three new dealerships, one in Alabama and two in California. These deals should close in Q1 2023, which means they will be accretive to the top and bottom lines early in the year. Economic pressure may hurt the company on a comp-store basis, but the increasing store count sets it up for leverage when the economic rebound gets underway. 

Analysts Buying Camping World 

The institutional and insider activity has been iffy, but Camping World remains a very tightly held issue with 47% insider ownership and 36% institutional ownership. There is a recipe for higher share prices if overshadowed by broader economic conditions. The analysts have lowered their targets since last year, but the price targets firmed over the past two months; the sentiment improved to a "moderate buy." This has the market bottoming and set up for a reversal should the catalyst arrive. 

Looking at the chart, Camping World is bouncing off a key and potentially strong support level at the bottom of a multi-year trading range. This range has been in place since the pandemic rebound began and may keep the stock moving sideways over the long term. In the near term, Camping World is moving higher within the range and may hit the $26 level soon. A move above that resistance point could lead the stock up to the $28 and then the $32 levels. 

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