Thor Industries, Inc. (THO) Lowered to “Hold” at Zacks Investment Research
Thor Industries, Inc. (NYSE:THO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Thor Industries manufactures a wide range of recreational vehicles (RVs) at various manufacturing facilities located in Indiana and Ohio and sold through independent dealers in the U.S. and Canada. “
THO has been the topic of a number of other research reports. BMO Capital Markets reiterated a “market perform” rating and issued a $110.00 price objective (up previously from $97.00) on shares of Thor Industries in a report on Tuesday, June 6th. SunTrust Banks, Inc. set a $125.00 price objective on Thor Industries and gave the company a “buy” rating in a report on Thursday, April 20th. Wunderlich increased their price objective on Thor Industries from $80.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, March 7th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $111.00 price objective (down previously from $117.00) on shares of Thor Industries in a report on Saturday, April 22nd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $109.96.
Shares of Thor Industries (THO) traded down 0.28% during midday trading on Wednesday, reaching $105.63. The company’s stock had a trading volume of 278,042 shares. The company has a market cap of $5.55 billion, a P/E ratio of 16.48 and a beta of 1.31. The stock’s 50-day moving average price is $95.48 and its 200-day moving average price is $100.13. Thor Industries has a 12-month low of $60.05 and a 12-month high of $115.74.
Thor Industries (NYSE:THO) last released its quarterly earnings data on Monday, June 5th. The construction company reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.24. Thor Industries had a return on equity of 24.83% and a net margin of 5.11%. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the business posted $1.51 EPS. The business’s revenue for the quarter was up 56.9% on a year-over-year basis. On average, analysts expect that Thor Industries will post $6.75 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 12th. Investors of record on Friday, June 23rd will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, June 21st. This represents a $1.32 dividend on an annualized basis and a yield of 1.25%. Thor Industries’s dividend payout ratio is presently 20.63%.
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In related news, Director Alan Siegel sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $103.19, for a total transaction of $103,190.00. Following the transaction, the director now owns 5,988 shares in the company, valued at approximately $617,901.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. purchased a new position in Thor Industries during the first quarter worth about $154,000. Benjamin F. Edwards & Company Inc. increased its position in Thor Industries by 72.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,621 shares of the construction company’s stock worth $156,000 after buying an additional 682 shares in the last quarter. Sandy Spring Bank increased its position in Thor Industries by 21.0% in the first quarter. Sandy Spring Bank now owns 1,670 shares of the construction company’s stock worth $161,000 after buying an additional 290 shares in the last quarter. Atria Investments LLC increased its position in Thor Industries by 6.1% in the first quarter. Atria Investments LLC now owns 2,219 shares of the construction company’s stock worth $213,000 after buying an additional 128 shares in the last quarter. Finally, Deschutes Portfolio Strategy LLC purchased a new position in Thor Industries during the first quarter worth about $226,000. Hedge funds and other institutional investors own 91.47% of the company’s stock.
About Thor Industries
Thor Industries, Inc manufactures a range of recreational vehicles (RVs) in the United States and sells those vehicles primarily in the United States and Canada. The Company’s segments include towable recreational vehicles, which consists of the operations of Airstream, Inc (Airstream) (towable); Heartland Recreational Vehicles, LLC (Heartland) (including Bison Coach, LLC (Bison), Cruiser RV, LLC (CRV) and DRV, LLC (DRV)); Jayco, Corp.
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