Thor Industries, Inc. (THO) Lifted 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 released on Saturday. The brokerage currently has $129.00 price objective 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. “
Other equities analysts have also recently issued reports about the stock. Citigroup Inc. reiterated a buy rating and set a $118.00 price objective (up from $111.00) on shares of Thor Industries in a research report on Friday, June 9th. Sidoti initiated 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 for the company. Robert W. Baird reiterated a buy rating and set a $120.00 price objective on shares of Thor Industries in a research report on Friday, September 8th. Canaccord Genuity reiterated a buy rating on shares of Thor Industries in a research report on Friday. Finally, Aegis initiated coverage on shares of Thor Industries in a research report on Monday, September 11th. They set a hold rating and a $113.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $113.20.
Shares of Thor Industries (NYSE THO) opened at 116.9700 on Friday. The stock’s 50 day moving average is $107.12 and its 200 day moving average is $100.92. Thor Industries has a 1-year low of $74.00 and a 1-year high of $117.45. The company has a market capitalization of $6.15 billion, a PE ratio of 18.2537 and a beta of 1.38.
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In other Thor Industries news, Chairman Peter Busch Orthwein sold 2,784 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $115.00, for a total transaction of $320,160.00. Following the sale, the chairman now directly owns 1,396,352 shares of the company’s stock, valued at approximately $160,580,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan Siegel sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The stock was 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 $545,936.60. The disclosure for this sale can be found here. Insiders own 6.60% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of THO. BlackRock Inc. grew its holdings in Thor Industries by 14,578.8% during the 1st quarter. BlackRock Inc. now owns 3,792,127 shares of the construction company’s stock worth $364,538,000 after acquiring an additional 3,766,293 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Thor Industries during the 2nd quarter worth approximately $128,458,000. Point72 Asset Management L.P. bought a new stake in Thor Industries during the 1st quarter worth approximately $99,442,000. Scopus Asset Management L.P. bought a new stake in Thor Industries during the 1st quarter worth approximately $59,120,000. Finally, Neuberger Berman Group LLC grew its holdings in Thor Industries by 139.0% during the 1st quarter. Neuberger Berman Group LLC now owns 814,673 shares of the construction company’s stock worth $78,315,000 after acquiring an additional 473,786 shares during the last quarter. 89.48% of the stock is currently owned by hedge funds and other institutional investors.
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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