(FORTUNE Magazine) – This might be the RV's 15 minutes. From the Osbournes' family motor home to Jack Nicholson's recreational ride in About Schmidt, the traditional vehicle of the American retiree is popping up across the pop culture terrain. And there's no bigger star in the RV business right now than Thor Industries (THO, $28). Shares of the fast-growing company (it now makes one out of every four motor homes sold) shot up 86% in 2002.

Thor's joy ride isn't over. Earnings for the vehicle maker are on pace to grow 48% this year, thanks in part to predictable demographics. "Baby-boomers are the target customers for RVs," says Red Chip research analyst Ruthanne Williams, "and that age group just keeps swelling." Plus, record-low interest rates have made the vehicles more affordable to potential buyers. In fact, the company has built up a six-month, $250 million backlog for products like its Dutchmen and Four Winds motor homes, Airstream trailers (the model below can be yours for $38,000), and Champion midsized buses. Thor plans to make room for more growth with the addition of five new production plants in 2003.

The best news for investors is that despite last year's run-up, Thor trades at just ten times projected 2003 earnings--well below its historical average P/E of 16. That means it's not too late to climb onboard. --Melanie Shanley