THOR Industries (NYSE:THO) Trading Up 4.9% – Here’s What Happened

by · The Cerbat Gem

THOR Industries, Inc. (NYSE:THO – Get Free Report) shares traded up 4.9% during mid-day trading on Thursday . The company traded as high as $85.35 and last traded at $85.38. 676,334 shares traded hands during trading, a decline of 1% from the average session volume of 684,861 shares. The stock had previously closed at $81.40.

Wall Street Analysts Forecast Growth

THO has been the topic of several research reports. StockNews.com upgraded shares of THOR Industries from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Bank of America upgraded shares of THOR Industries from a “neutral” rating to a “buy” rating and lifted their target price for the company from $110.00 to $125.00 in a report on Monday, March 3rd. Truist Financial lowered their price target on THOR Industries from $110.00 to $90.00 and set a “hold” rating for the company in a report on Thursday. BMO Capital Markets reduced their price objective on THOR Industries from $120.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Robert W. Baird lowered their target price on THOR Industries from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Thursday. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, THOR Industries presently has a consensus rating of “Moderate Buy” and an average target price of $104.00.

Get Our Latest Stock Report on THO

THOR Industries Stock Performance

The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 1.16 and a beta of 1.74. The company has a quick ratio of 0.78, a current ratio of 1.71 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average of $99.31 and a 200 day moving average of $103.92.

THOR Industries (NYSE:THO – Get Free Report) last announced its earnings results on Wednesday, March 5th. The construction company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). THOR Industries had a net margin of 2.17% and a return on equity of 5.97%. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the company earned $0.13 earnings per share. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. As a group, equities research analysts expect that THOR Industries, Inc. will post 4.64 EPS for the current fiscal year.

THOR Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Monday, January 6th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Monday, January 6th. THOR Industries’s dividend payout ratio is currently 53.05%.

Institutional Investors Weigh In On THOR Industries

Institutional investors have recently modified their holdings of the stock. Venturi Wealth Management LLC increased its holdings in THOR Industries by 1.7% in the fourth quarter. Venturi Wealth Management LLC now owns 6,312 shares of the construction company’s stock valued at $604,000 after buying an additional 108 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in THOR Industries by 0.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 15,971 shares of the construction company’s stock worth $1,529,000 after buying an additional 112 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of THOR Industries by 0.5% in the 4th quarter. Sanctuary Advisors LLC now owns 21,614 shares of the construction company’s stock worth $2,278,000 after acquiring an additional 113 shares in the last quarter. Blue Trust Inc. grew its position in shares of THOR Industries by 22.1% in the 4th quarter. Blue Trust Inc. now owns 669 shares of the construction company’s stock worth $64,000 after acquiring an additional 121 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in shares of THOR Industries by 57.3% in the 4th quarter. First Horizon Advisors Inc. now owns 332 shares of the construction company’s stock valued at $32,000 after acquiring an additional 121 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

About THOR Industries

(Get Free Report)

THOR Industries, Inc designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories in the United States, Canada, and Europe. The company offers travel trailers; gasoline and diesel Class A, Class B, and Class C motorhomes; conventional travel trailers and fifth wheels; luxury fifth wheels; and motorcaravans, caravans, campervans, and urban vehicles.

Further Reading