Thor Industries, Inc. (THO) Rating Increased to Buy at Zacks Investment Research
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 Wednesday. The firm currently has a $122.00 target price on the construction company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.63% 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. “
Other analysts have also recently issued research reports about the company. Citigroup Inc. reaffirmed a “buy” rating and set a $118.00 target price (up previously from $111.00) on shares of Thor Industries in a research report on Friday, June 9th. Sidoti started coverage on Thor Industries in a research report on Friday, August 11th. They set a “buy” rating and a $133.00 target price on the stock. Stifel Nicolaus reaffirmed a “hold” rating on shares of Thor Industries in a research report on Wednesday, August 16th. BidaskClub raised Thor Industries from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $110.00 target price on shares of Thor Industries in a research report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $109.39.
Thor Industries (NYSE THO) opened at 107.37 on Wednesday. The firm has a 50-day moving average price of $104.42 and a 200 day moving average price of $101.07. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of 16.76 and a beta of 1.40. Thor Industries has a 52 week low of $74.00 and a 52 week high of $115.74. Thor Industries also saw unusually large options trading on Monday. Investors purchased 12,680 call options on the stock. This is an increase of approximately 1,256% compared to the average volume of 935 call options.
Thor Industries (NYSE:THO) last announced its earnings results on Monday, June 5th. The construction company reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.24. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Thor Industries had a return on equity of 24.83% and a net margin of 5.11%. The business’s revenue for the quarter was up 56.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.51 EPS. On average, equities research analysts forecast that Thor Industries will post $6.78 earnings per share for the current fiscal year.
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In related news, Director Alan Siegel sold 1,000 shares of the firm’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $109.45, for a total value of $109,450.00. Following the completion of the transaction, the director now owns 4,988 shares in the company, valued at approximately $545,936.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.60% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Thor Industries by 8.7% in the second quarter. BlackRock Inc. now owns 4,122,123 shares of the construction company’s stock worth $430,843,000 after buying an additional 329,996 shares during the period. Vanguard Group Inc. raised its position in shares of Thor Industries by 1.2% in the second quarter. Vanguard Group Inc. now owns 4,042,036 shares of the construction company’s stock worth $422,474,000 after buying an additional 48,345 shares during the period. Wells Fargo & Company MN raised its position in shares of Thor Industries by 7.4% in the second quarter. Wells Fargo & Company MN now owns 1,324,845 shares of the construction company’s stock worth $138,473,000 after buying an additional 90,713 shares during the period. State Street Corp raised its position in shares of Thor Industries by 5.0% in the first quarter. State Street Corp now owns 1,320,280 shares of the construction company’s stock worth $126,925,000 after buying an additional 62,855 shares during the period. Finally, Janus Henderson Group PLC purchased a new position in shares of Thor Industries during the second quarter worth about $128,458,000. 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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