Thor Industries, Inc. (THO) Posts Earnings Results, Beats Expectations By $0.31 EPS
Thor Industries, Inc. (NYSE:THO) released its quarterly earnings results on Wednesday. The construction company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.31, Briefing.com reports. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.83 billion. Thor Industries had a net margin of 5.11% and a return on equity of 24.83%. The business’s revenue was up 49.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.57 EPS.
Shares of Thor Industries (NYSE THO) traded up 2.35% during midday trading on Wednesday, reaching $119.99. 1,877,359 shares of the company traded hands. The company’s 50 day moving average is $107.11 and its 200-day moving average is $100.92. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 18.73 and a beta of 1.38. Thor Industries has a 12 month low of $74.00 and a 12 month high of $120.41.
THO has been the topic of a number of research analyst reports. Stifel Nicolaus reissued a “hold” rating on shares of Thor Industries in a research note on Wednesday, August 16th. BidaskClub raised shares of Thor Industries from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Zacks Investment Research raised shares of Thor Industries from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a research note on Wednesday, August 30th. Citigroup Inc. reissued a “buy” rating and issued a $118.00 price target (up from $111.00) on shares of Thor Industries in a research note on Friday, June 9th. Finally, Aegis initiated coverage on shares of Thor Industries in a research note on Monday, September 11th. They issued a “hold” rating and a $113.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $113.20.
In other Thor Industries news, Chairman Peter Busch Orthwein sold 2,784 shares of Thor Industries 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 transaction, the chairman now directly owns 1,396,352 shares of the company’s stock, valued at $160,580,480. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 6.60% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. World Asset Management Inc lifted its position in Thor Industries by 14.3% during the first quarter. World Asset Management Inc now owns 3,722 shares of the construction company’s stock valued at $358,000 after buying an additional 467 shares in the last quarter. Karp Capital Management Corp acquired a new position in Thor Industries during the first quarter valued at approximately $2,351,000. United Capital Financial Advisers LLC lifted its position in 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 valued at $1,276,000 after buying an additional 354 shares in the last quarter. Vanguard Group Inc. lifted its position in Thor Industries by 5.7% during the first quarter. Vanguard Group Inc. now owns 3,993,691 shares of the construction company’s stock valued at $383,913,000 after buying an additional 214,042 shares in the last quarter. Finally, Financial Counselors Inc. acquired a new position in Thor Industries during the second quarter valued at approximately $1,144,000. 89.48% of the stock is currently owned by hedge funds and other institutional investors.
Thor Industries Company Profile
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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