This stock lost more than half its value in 2018. Why one trader says it's a buy for 2019

• Shares of Winnebago fell 56% in 2018 for the company's second-worst year on record.
• "Halftime Report" trader and HPM Partners' Jim Lebenthal owns the stocks and believes it's a compelling buy here since the company has topped estimates "every single quarter for the last year."
• The RV-maker hit a 52-week intraday high of $58.05 on January 11, but has since fallen more than 58 percent, closing at $24.21 on December 31.

It was a rough road for Winnebago in 2018, but one trader is betting that things turn around for the RV maker in 2019.

"Halftime Report" contributor and HPM Partners' Jim Lebenthal believes the stock is poised to outperform in 2019 because the market is already so negative on the name, and because a strong economy should bolster sales.

"The company continues to outperform," he said on Tuesday's "Halftime Report." "Every single quarter for the last year they've blown away estimates."

Winnebago reported Q1 earnings on December 19, topping analyst estimates for both EPS and revenue. The company's quarterly results were helped by improved RV sales in North America, as well as contributions from its new marine division.

Lebenthal also likes Winnebago on a valuation basis.

The company currently trades at 6X forward earnings, which Lebenthal believes is too cheap based on its growth prospects.

"I don't think we're going to get a recession, which this thing is priced for. Any valuation you look at it's ridiculously cheap. The sentiment has been terrible, but I think in the last month it has turned," he said.

Winnebago has a market cap of $766 million, and yields 1.83%.

Jim Lebenthal owns Winnebago.

-CNBC'S Peter Schacknow contributed.