Zacks Investment Research Upgrades Thor Industries, Inc. (THO) to Buy
Thor Industries, Inc. (NYSE:THO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday. The firm presently has a $120.00 price objective on the construction company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.17% from the company’s previous close.
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 subject of several other research reports. Citigroup Inc. reiterated a “buy” rating and set a $111.00 target price (down previously from $117.00) on shares of Thor Industries in a research report on Saturday, April 22nd. Wunderlich upped their price objective on shares of Thor Industries from $80.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, March 7th. BMO Capital Markets restated a “market perform” rating and issued a $110.00 price objective (up previously from $97.00) on shares of Thor Industries in a research report on Tuesday, June 6th. Finally, SunTrust Banks, Inc. set a $125.00 price objective on shares of Thor Industries and gave the company a “buy” rating in a research report on Thursday, April 20th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $110.30.
Shares of Thor Industries (NYSE:THO) opened at 107.94 on Friday. The firm has a market cap of $5.68 billion, a PE ratio of 16.84 and a beta of 1.31. Thor Industries has a 12 month low of $60.05 and a 12 month high of $115.74. The stock has a 50 day moving average price of $96.76 and a 200 day moving average price of $100.36.
Thor Industries (NYSE:THO) last issued its earnings results on Monday, June 5th. The construction company reported $2.11 EPS for the quarter, beating the consensus estimate of $1.87 by $0.24. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Thor Industries had a net margin of 5.11% and a return on equity of 24.83%. The business’s revenue for the quarter was up 56.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.51 EPS. On average, equities research analysts expect that Thor Industries will post $6.75 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 12th. Investors of record on Friday, June 23rd will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Wednesday, June 21st. Thor Industries’s dividend payout ratio is currently 20.63%.
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In related news, Director Alan Siegel sold 1,000 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $103.19, for a total value of $103,190.00. Following the completion of the sale, the director now owns 5,988 shares in the company, valued at approximately $617,901.72. The transaction was disclosed in a filing with the SEC, which is available through this link. 6.60% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in THO. First Manhattan Co. purchased a new stake in Thor Industries during the first quarter worth approximately $1,592,000. First United Bank Trust boosted its stake in Thor Industries by 38.5% in the first quarter. First United Bank Trust now owns 7,394 shares of the construction company’s stock worth $711,000 after buying an additional 2,055 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in Thor Industries by 122.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,968 shares of the construction company’s stock worth $1,084,000 after buying an additional 6,045 shares in the last quarter. Creative Planning boosted its stake in Thor Industries by 467.9% in the first quarter. Creative Planning now owns 6,025 shares of the construction company’s stock worth $579,000 after buying an additional 4,964 shares in the last quarter. Finally, World Asset Management Inc raised its position in shares of Thor Industries by 14.3% in the first quarter. World Asset Management Inc now owns 3,722 shares of the construction company’s stock worth $358,000 after buying an additional 467 shares during the last quarter. Institutional investors and hedge funds own 91.52% 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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