Thor Industries Inc. (THO) Sees Large Volume Increase After Earnings Beat
Shares of Thor Industries Inc. (NYSE:THO) saw strong trading volume on Tuesday following a better than expected earnings announcement. 5,266,084 shares traded hands during trading, an increase of 643% from the previous session’s volume of 708,322 shares.The stock last traded at $101.84 and had previously closed at $90.44.
The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.26. The company had revenue of $1.71 billion for the quarter. Thor Industries had a return on equity of 22.50% and a net margin of 5.60%. The firm’s revenue for the quarter was up 65.8% compared to the same quarter last year. During the same period last year, the business posted $0.97 EPS.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 7th. Investors of record on Monday, October 24th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Thursday, October 20th. This is an increase from Thor Industries’s previous quarterly dividend of $0.30. Thor Industries’s dividend payout ratio (DPR) is 27.10%.
Several analysts recently issued reports on the company. BMO Capital Markets lifted their target price on Thor Industries from $80.00 to $102.00 and gave the company a “market perform” rating in a research note on Tuesday. Vetr downgraded Thor Industries from a “strong-buy” rating to a “buy” rating and set a $95.66 price objective on the stock. in a research note on Tuesday, November 15th. Argus reaffirmed a “buy” rating and issued a $92.00 price objective on shares of Thor Industries in a research note on Sunday, October 9th. Zacks Investment Research raised Thor Industries from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a research note on Thursday, October 6th. Finally, Wellington Shields raised Thor Industries from a “gradually accumulate” rating to a “buy” rating in a research note on Wednesday, September 28th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Thor Industries has a consensus rating of “Buy” and an average price target of $86.18.
In related news, Chairman Peter Busch Orthwein sold 4,672 shares of the business’s stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $85.69, for a total transaction of $400,343.68. Following the completion of the transaction, the chairman now owns 1,400,252 shares in the company, valued at approximately $119,987,593.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.60% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of THO. Ngam Advisors L.P. boosted its position in Thor Industries by 47.9% in the second quarter. Ngam Advisors L.P. now owns 189,629 shares of the company’s stock worth $12,277,000 after buying an additional 61,432 shares during the last quarter. TradeLink Capital LLC boosted its position in Thor Industries by 59.6% in the second quarter. TradeLink Capital LLC now owns 5,149 shares of the company’s stock worth $333,000 after buying an additional 1,922 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Thor Industries by 20.6% in the second quarter. Teacher Retirement System of Texas now owns 6,992 shares of the company’s stock worth $453,000 after buying an additional 1,196 shares during the last quarter. BB&T Securities LLC boosted its position in Thor Industries by 17.1% in the second quarter. BB&T Securities LLC now owns 37,745 shares of the company’s stock worth $2,443,000 after buying an additional 5,522 shares during the last quarter. Finally, Oakbrook Investments LLC acquired a new position in Thor Industries during the second quarter worth about $280,000. Institutional investors own 87.01% of the company’s stock.
The firm has a market capitalization of $5.34 billion, a P/E ratio of 20.86 and a beta of 1.21. The stock’s 50-day moving average price is $82.33 and its 200-day moving average price is $75.91.
Thor Industries Company Profile
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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