THOR Industries (NYSE:THO) Upgraded at StockNews.com

StockNews.com upgraded shares of THOR Industries (NYSE:THO) from a sell rating to a hold rating in a research report released on Wednesday.

Other research analysts have also issued research reports about the company. Truist Financial boosted their target price on THOR Industries from $95.00 to $105.00 and gave the company a “hold” rating in a report on Friday, September 20th. DA Davidson restated a “neutral” rating and set a $95.00 price objective on shares of THOR Industries in a research report on Monday, September 30th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $120.00 target price on shares of THOR Industries in a report on Thursday, September 19th. Benchmark reiterated a “hold” rating on shares of THOR Industries in a research note on Tuesday, December 3rd. Finally, Citigroup raised their price objective on shares of THOR Industries from $119.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, THOR Industries currently has an average rating of “Hold” and a consensus price target of $112.33.

THOR Industries Stock Performance

Shares of THOR Industries stock opened at $95.84 on Wednesday. The firm’s fifty day simple moving average is $106.92 and its 200-day simple moving average is $103.14. THOR Industries has a 12 month low of $88.37 and a 12 month high of $129.31. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 24.51 and a beta of 1.67. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.71 and a quick ratio of 0.78.

THOR Industries (NYSE:THO) last posted its quarterly earnings data on Tuesday, September 24th. The construction company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.33. THOR Industries had a net margin of 2.17% and a return on equity of 5.97%. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the business posted $1.68 earnings per share. THOR Industries’s quarterly revenue was down 7.4% on a year-over-year basis. As a group, equities analysts forecast that THOR Industries will post 4.67 earnings per share for the current year.

THOR Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Monday, January 6th will be issued a $0.50 dividend. The ex-dividend date is Monday, January 6th. This represents a $2.00 dividend on an annualized basis and a yield of 2.09%. THOR Industries’s dividend payout ratio (DPR) is presently 51.15%.

Insider Activity

In related news, VP Colleen A. Zuhl sold 4,354 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $115.00, for a total value of $500,710.00. Following the sale, the vice president now directly owns 131,905 shares of the company’s stock, valued at approximately $15,169,075. This represents a 3.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.50% of the company’s stock.

Institutional Trading of THOR Industries

Several institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. purchased a new position in shares of THOR Industries during the 3rd quarter worth approximately $233,000. Sanctuary Advisors LLC increased its position in THOR Industries by 2.1% during the third quarter. Sanctuary Advisors LLC now owns 21,501 shares of the construction company’s stock worth $2,412,000 after buying an additional 442 shares in the last quarter. Anchor Investment Management LLC acquired a new position in shares of THOR Industries in the third quarter worth $58,000. Geode Capital Management LLC lifted its position in shares of THOR Industries by 1.4% in the third quarter. Geode Capital Management LLC now owns 911,232 shares of the construction company’s stock valued at $100,161,000 after acquiring an additional 12,758 shares in the last quarter. Finally, MML Investors Services LLC boosted its stake in shares of THOR Industries by 10.2% during the third quarter. MML Investors Services LLC now owns 10,556 shares of the construction company’s stock valued at $1,160,000 after acquiring an additional 976 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

About THOR Industries

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.