$1.85 Billion in Sales Expected for Thor Industries, Inc. (THO) This Quarter
Equities research analysts forecast that Thor Industries, Inc. (NYSE:THO) will announce sales of $1.85 billion for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Thor Industries’ earnings. The lowest sales estimate is $1.80 billion and the highest is $1.90 billion. Thor Industries posted sales of $1.29 billion during the same quarter last year, which suggests a positive year over year growth rate of 43.4%. The firm is expected to announce its next quarterly earnings results on Monday, September 25th.
On average, analysts expect that Thor Industries will report full-year sales of $1.85 billion for the current financial year, with estimates ranging from $7.11 billion to $7.21 billion. For the next financial year, analysts expect that the business will post sales of $7.52 billion per share, with estimates ranging from $7.29 billion to $7.72 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Thor Industries.
Thor Industries (NYSE:THO) last released its earnings results on Monday, June 5th. The construction company reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $1.96 billion. During the same quarter in the prior year, the company posted $1.51 earnings per share. Thor Industries’s revenue was up 56.9% on a year-over-year basis.
A number of equities research analysts have recently commented on the stock. BidaskClub upgraded shares of Thor Industries from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Citigroup Inc. reiterated a “buy” rating and set a $118.00 price target (up previously from $111.00) on shares of Thor Industries in a report on Friday, June 9th. Zacks Investment Research cut shares of Thor Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 8th. Sidoti assumed coverage on shares of Thor Industries in a research report on Friday, August 11th. They set a “buy” rating and a $133.00 price objective on the stock. Finally, BMO Capital Markets restated a “hold” rating and set a $110.00 price objective on shares of Thor Industries in a research report on Thursday, July 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. Thor Industries presently has an average rating of “Buy” and a consensus target price of $109.22.
Thor Industries (THO) traded down 1.61% during mid-day trading on Tuesday, reaching $106.96. The company had a trading volume of 196,625 shares. The stock has a 50 day moving average price of $104.42 and a 200 day moving average price of $101.07. The company has a market capitalization of $5.62 billion, a P/E ratio of 16.69 and a beta of 1.40. Thor Industries has a one year low of $74.00 and a one year high of $115.74. Thor Industries also was the recipient of some unusual options trading activity on Monday. Traders bought 12,680 call options on the company. This represents an increase of approximately 1,256% compared to the typical daily volume of 935 call options.
In other news, Director Alan Siegel sold 1,000 shares of the firm’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $109.45, for a total transaction of $109,450.00. Following the sale, the director now directly owns 4,988 shares in the company, valued at approximately $545,936.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.60% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in THO. Huntington National Bank increased its stake in shares of Thor Industries by 82.0% in the second quarter. Huntington National Bank now owns 983 shares of the construction company’s stock valued at $103,000 after buying an additional 443 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in shares of Thor Industries during the second quarter valued at approximately $104,000. Sterling Investment Advisors Ltd. purchased a new stake in shares of Thor Industries during the second quarter valued at approximately $105,000. Fiduciary Trust Co. purchased a new stake in shares of Thor Industries during the second quarter valued at approximately $133,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of 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 valued at $156,000 after buying an additional 682 shares during the last quarter. Hedge funds and other institutional investors own 89.67% 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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