Thor Industries (NYSE:THO) Shares Down 3.2%

Thor Industries, Inc. (NYSE:THO)’s share price fell 3.2% during trading on Friday . The company traded as low as $98.36 and last traded at $99.32. 2,936 shares traded hands during mid-day trading, a decline of 100% from the average session volume of 824,795 shares. The stock had previously closed at $102.62.

A number of brokerages have recently commented on THO. BMO Capital Markets boosted their price target on Thor Industries from $166.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, December 9th. Zacks Investment Research lowered Thor Industries from a “buy” rating to a “hold” rating and set a $107.00 target price on the stock. in a report on Monday, December 13th. Wedbush upped their target price on Thor Industries from $126.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, September 29th. Truist dropped their target price on Thor Industries from $142.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 9th. The analyst attributes his reduced price target to expectations of difficult retail comparisons, faster-than-anticipated inventory replenishment, and the likelihood of easing margins over coming quarters. Longer term however, Thor should continue to benefit from a multi-quarter restocking dynamic and historically-elevated margins, Swartz tells investors in a research note, adding that at below 5-times expected FY22 EBITDA, the risk-reward on the stock “remains attractive”. Finally, KeyCorp downgraded Thor Industries from an “overweight” rating to a “sector weight” rating in a research report on Monday, October 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $135.89.

The company has a quick ratio of 0.76, a current ratio of 1.58 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $5.47 billion, a P/E ratio of 7.04 and a beta of 2.02. The firm has a 50 day moving average of $105.43 and a 200-day moving average of $110.89.

Thor Industries (NYSE:THO) last issued its quarterly earnings results on Wednesday, December 8th. The construction company reported $4.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $1.24. The business had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Thor Industries had a return on equity of 27.58% and a net margin of 5.74%. The firm’s revenue for the quarter was up 56.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.05 earnings per share. As a group, research analysts expect that Thor Industries, Inc. will post 15.37 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 13th. Shareholders of record on Thursday, December 30th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.75%. The ex-dividend date was Wednesday, December 29th. Thor Industries’s payout ratio is presently 12.17%.

Thor Industries announced that its board has authorized a stock repurchase program on Tuesday, December 21st that allows the company to buyback $250.00 million in shares. This buyback authorization allows the construction company to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

In other news, Director Andrew E. Graves purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, January 4th. The stock was bought at an average cost of $104.74 per share, for a total transaction of $209,480.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Amelia Huntington purchased 500 shares of the company’s stock in a transaction dated Monday, December 27th. The stock was purchased at an average price of $100.89 per share, with a total value of $50,445.00. The disclosure for this purchase can be found here. Insiders have acquired 12,500 shares of company stock valued at $1,294,025 over the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Mercantile Trust Co. lifted its position in shares of Thor Industries by 7.0% during the 3rd quarter. First Mercantile Trust Co. now owns 1,647 shares of the construction company’s stock worth $203,000 after buying an additional 108 shares in the last quarter. Bank of Nova Scotia increased its stake in shares of Thor Industries by 2.9% during the 3rd quarter. Bank of Nova Scotia now owns 4,174 shares of the construction company’s stock worth $512,000 after purchasing an additional 116 shares during the last quarter. Wolff Wiese Magana LLC increased its stake in shares of Thor Industries by 133.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 212 shares of the construction company’s stock worth $26,000 after purchasing an additional 121 shares during the last quarter. Howe & Rusling Inc. increased its stake in shares of Thor Industries by 4.0% during the 2nd quarter. Howe & Rusling Inc. now owns 3,411 shares of the construction company’s stock worth $385,000 after purchasing an additional 132 shares during the last quarter. Finally, Dupont Capital Management Corp increased its stake in shares of Thor Industries by 1.7% during the 3rd quarter. Dupont Capital Management Corp now owns 9,607 shares of the construction company’s stock worth $1,179,000 after purchasing an additional 157 shares during the last quarter. 88.23% of the stock is currently owned by institutional investors and hedge funds.

Thor Industries Company Profile (NYSE:THO)

Thor Industries, Inc engages in the manufacture and sale of recreational vehicles. It operates through the following segments: North American Towable Recreational Vehicles; North American Motorized Recreational Vehicles; and European Recreational Vehicles. The North American Towable Recreational Vehicles segment includes operating entities such as Airstream, Heartland, Jayco, Keystone, and KZ.

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