Recreational Vehicle wholesale shipments decline 11.0% in October driven by towables down 10.5% and motorized down 14.6%, KeyBanc analyst Brett Andress tells investors in a research note, citing data from the Recreational Vehicle Industry Association. The numbers are in line with the analyst's expectations. Headline shipment declines have been communicated by industry participants as channel inventories continue to normalize and dealer ordering patterns shift toward the early Spring months, Andress writes. He believes industry shipments are likely to remain pressured through Q4, but with declines stabilizing somewhat over the coming months. The analyst views normalizing inventories positively for Patrick Industries (PATK) as well as the industry. Further, Andress also views the October data positively for Camping World (CWH) as channel inventories "further normalize."