THOR Industries (NYSE:THO) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of THOR Industries (NYSE:THO) from a sell rating to a hold rating in a research note released on Friday morning.

Several other analysts have also recently issued reports on THO. DA Davidson raised shares of THOR Industries to a “hold” rating in a research note on Monday, April 14th. Citigroup cut shares of THOR Industries from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $94.00 to $86.00 in a research note on Wednesday, March 19th. Truist Financial upped their price objective on shares of THOR Industries from $72.00 to $78.00 and gave the company a “hold” rating in a research note on Tuesday, June 3rd. BMO Capital Markets dropped their price objective on shares of THOR Industries from $120.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Finally, Bank of America raised shares of THOR Industries from a “neutral” rating to a “buy” rating and upped their price objective for the company from $110.00 to $125.00 in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $89.14.

THOR Industries Stock Up 0.9%

THO opened at $86.75 on Friday. THOR Industries has a twelve month low of $63.16 and a twelve month high of $118.85. The company has a quick ratio of 0.78, a current ratio of 1.71 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average price of $75.86 and a 200 day moving average price of $89.61. The company has a market cap of $4.62 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 1.16 and a beta of 1.21.

THOR Industries (NYSE:THO) last released its quarterly earnings results on Wednesday, June 4th. The construction company reported $2.53 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.74. THOR Industries had a net margin of 2.17% and a return on equity of 5.97%. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the prior year, the firm earned $2.13 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side analysts expect that THOR Industries will post 4.64 earnings per share for the current fiscal year.

THOR Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 8th were paid a $0.50 dividend. The ex-dividend date was Tuesday, April 8th. This represents a $2.00 annualized dividend and a dividend yield of 2.31%. THOR Industries’s dividend payout ratio (DPR) is 47.96%.

Institutional Trading of THOR Industries

Hedge funds have recently made changes to their positions in the company. Atala Financial Inc purchased a new stake in shares of THOR Industries in the 4th quarter valued at approximately $27,000. First Horizon Advisors Inc. boosted its position in shares of THOR Industries by 57.3% during the 4th quarter. First Horizon Advisors Inc. now owns 332 shares of the construction company’s stock worth $32,000 after purchasing an additional 121 shares during the period. UMB Bank n.a. boosted its position in shares of THOR Industries by 135.6% during the 1st quarter. UMB Bank n.a. now owns 483 shares of the construction company’s stock worth $37,000 after purchasing an additional 278 shares during the period. Brown Brothers Harriman & Co. boosted its position in shares of THOR Industries by 369.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 418 shares of the construction company’s stock worth $40,000 after purchasing an additional 329 shares during the period. Finally, Stonebridge Financial Group LLC purchased a new position in shares of THOR Industries during the 4th quarter worth approximately $51,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

About THOR Industries

THOR Industries, Inc designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories in the United States, Canada, and Europe. The company offers travel trailers; gasoline and diesel Class A, Class B, and Class C motorhomes; conventional travel trailers and fifth wheels; luxury fifth wheels; and motorcaravans, caravans, campervans, and urban vehicles.