Thor Industries Inc. (THO) Given New $102.00 Price Target at BMO Capital Markets
Thor Industries Inc. (NYSE:THO) had its target price lifted by equities research analysts at BMO Capital Markets from $80.00 to $102.00 in a research note issued on Tuesday. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 0.16% from the stock’s previous close.
A number of other equities analysts have also weighed in on the stock. Zacks Investment Research raised shares of Thor Industries from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a research note on Wednesday, August 3rd. Argus reissued a “buy” rating and set a $92.00 price target on shares of Thor Industries in a research report on Sunday, October 9th. Wunderlich cut shares of Thor Industries from a “buy” rating to a “hold” rating and set a $80.00 price target on the stock. in a research report on Friday, August 19th. Wellington Shields raised shares of Thor Industries from a “gradually accumulate” rating to a “buy” rating in a research report on Wednesday, September 28th. Finally, Vetr cut shares of Thor Industries from a “strong-buy” rating to a “buy” rating and set a $95.66 price target on the stock. in a research report on Tuesday, November 15th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $86.18.
Shares of Thor Industries (NYSE:THO) traded up 12.61% during midday trading on Tuesday, hitting $101.84. The stock had a trading volume of 5,265,768 shares. The company’s 50 day moving average price is $82.33 and its 200-day moving average price is $75.91. Thor Industries has a 1-year low of $47.56 and a 1-year high of $104.38. The firm has a market capitalization of $5.34 billion, a PE ratio of 20.86 and a beta of 1.21.
Thor Industries (NYSE:THO) last announced its earnings results on Monday, November 28th. The company reported $1.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.26. The firm earned $1.71 billion during the quarter. Thor Industries had a net margin of 5.60% and a return on equity of 22.50%. Thor Industries’s revenue for the quarter was up 65.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 earnings per share. Equities analysts predict that Thor Industries will post $5.88 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, November 7th. Investors of record on Monday, October 24th were paid a $0.33 dividend. The ex-dividend date of this dividend was Thursday, October 20th. This represents a $1.32 dividend on an annualized basis and a yield of 1.30%. This is a positive change from Thor Industries’s previous quarterly dividend of $0.30. Thor Industries’s dividend payout ratio is 27.10%.
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In related news, Chairman Peter Busch Orthwein sold 4,672 shares of the company’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $85.69, for a total value of $400,343.68. Following the transaction, the chairman now owns 1,400,252 shares in the company, valued at approximately $119,987,593.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 6.60% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Piedmont Investment Advisors LLC acquired a new position in shares of Thor Industries during the third quarter worth about $534,000. Price T Rowe Associates Inc. MD raised its position in shares of Thor Industries by 1.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 21,188 shares of the company’s stock worth $1,795,000 after buying an additional 340 shares during the last quarter. LPL Financial LLC raised its position in shares of Thor Industries by 3.4% in the third quarter. LPL Financial LLC now owns 9,398 shares of the company’s stock worth $806,000 after buying an additional 312 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its position in shares of Thor Industries by 40,585.0% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 8,137 shares of the company’s stock worth $689,000 after buying an additional 8,117 shares during the last quarter. Finally, Credit Suisse AG raised its position in shares of Thor Industries by 4.3% in the third quarter. Credit Suisse AG now owns 88,121 shares of the company’s stock worth $7,464,000 after buying an additional 3,619 shares during the last quarter. Hedge funds and other institutional investors own 87.01% of the company’s stock.
About Thor Industries
Thor Industries, Inc (Thor), manufactures and sells various recreational vehicles (RV) throughout the United States and Canada, as well as related parts and accessories. The principal types of The Company’s towable recreational vehicles that the Company produces include conventional travel trailers and fifth wheels.
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