What’s happening: Investors on Thursday continued snapping up shares in mobile- and modular-home-manufacturing companies. Champion Enterprises Inc.’s stock Thursday hit a 52-week high of $13.50, while shares of Nobility Homes Inc. were up 12 percent, to $30.75, and Elkhart-based Skyline Corp. was up 4.5 percent, to $41.14. In the last two days, shares of Cavalier Homes Inc. jumped 35 percent, to $6.60, and Fleetwood Enterprises Inc. climbed 14 percent, to $10.33.
Why: The Federal Emergency Management Agency indicated it would use mobile homes to house thousands of storm victims. Analysts said FEMA has excess mobile homes in Florida but needs more. Manufactured-housing executives said the first order of business is assessing what inventory is available.
Before the storm: The manufactured-housing industry has been in a slump for several years, racking up big losses due to an inventory glut after the industry expanded too quickly.
What’s ahead: FEMA has not said how much it plans to spend or how many mobile homes it will buy, investors speculate the number will be high.
