(MONEY Magazine) – As the baby boomers hit middle age, they look for low-impact ways to stay fit. Not surprisingly, camping and hiking are more popular than ever. Since 1983, the number of overnight camping stays in U.S. national parks has risen 15% to more than 18 million a year, according to the National Park Service. So times couldn't be better for Coleman (symbol: CLN; NYSE, $27.75; no yield), the world's leading producer of camping equipment with estimated 1994 revenues of $730 million. The 93-year-old firm makes everything from stoves and lanterns to flashlights and canoes. In addition, since 1982 the company has acquired businesses that manufacture electrical generators, high-pressure washers and air compressors for do-it-yourselfers. Overall, says analyst Boyd S. Poston at A.G. Edwards in St. Louis, Coleman's domestic sales growth can chug along at 10% a year. Foreign sales are expanding nearly three times as fast, largely because camping is becoming increasingly popular in Japan. "Currently, overseas business accounts for just over 26% of Coleman's sales, but it could be 50% by the end of the decade," says analyst Peter J. Barry at C.J. Lawrence/Deutsche Bank Securities in New York City. Financier Ronald O. Perelman's holding company, MacAndrews & Forbes, which controls Revlon, also owns 82% of Coleman's stock. That means the shares trade too thinly for institutions to buy easily, but that's not a problem for small investors. Poston and Barry project the stock could rise 26% to $35 over the next 18 months.