Thor Industries, Inc. (THO) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Thor Industries, Inc. (NYSE:THO) from a hold rating to a buy rating in a research note issued to investors on Tuesday. Zacks Investment Research currently has $122.00 target price on the construction company’s stock.
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. “
A number of other analysts also recently commented on THO. BidaskClub upgraded Thor Industries from a sell rating to a hold rating in a report on Friday, August 4th. Citigroup Inc. reiterated a buy rating and issued a $118.00 price target (up from $111.00) on shares of Thor Industries in a report on Friday, June 9th. BMO Capital Markets reiterated a hold rating and issued a $110.00 price target on shares of Thor Industries in a report on Friday, September 1st. Sidoti started coverage on Thor Industries in a report on Friday, August 11th. They issued a buy rating and a $133.00 price target for the company. Finally, Stifel Nicolaus started coverage on Thor Industries in a report on Thursday, July 6th. They issued a hold rating and a $110.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $109.39.
Thor Industries (NYSE THO) opened at 109.47 on Tuesday. The company has a 50-day moving average price of $105.65 and a 200-day moving average price of $101.00. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 17.08 and a beta of 1.38. Thor Industries has a 12-month low of $74.00 and a 12-month high of $115.74.
Thor Industries (NYSE:THO) last released its quarterly earnings data on Monday, June 5th. The construction company reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.24. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $1.51 EPS. On average, equities research analysts forecast that Thor Industries will post $6.78 earnings per share for the current year.
In other news, Director Alan Siegel sold 1,000 shares of the stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $109.45, for a total transaction of $109,450.00. Following the transaction, the director now owns 4,988 shares of the company’s stock, valued at $545,936.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.60% of the company’s stock.
Hedge funds have recently modified their holdings of the company. World Asset Management Inc lifted its position in shares of Thor Industries by 14.3% during the first quarter. World Asset Management Inc now owns 3,722 shares of the construction company’s stock worth $358,000 after purchasing an additional 467 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of Thor Industries during the first quarter worth about $2,351,000. United Capital Financial Advisers LLC lifted its position in shares of Thor Industries by 2.7% during the first quarter. United Capital Financial Advisers LLC now owns 13,278 shares of the construction company’s stock worth $1,276,000 after purchasing an additional 354 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Thor Industries by 5.7% during the first quarter. Vanguard Group Inc. now owns 3,993,691 shares of the construction company’s stock worth $383,913,000 after purchasing an additional 214,042 shares during the last quarter. Finally, Profund Advisors LLC lifted its position in shares of Thor Industries by 3.4% during the first quarter. Profund Advisors LLC now owns 6,547 shares of the construction company’s stock worth $629,000 after purchasing an additional 216 shares during the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.
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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