Thor Industries, Inc. (NYSE:THO) Receives Average Rating of “Hold” from Brokerages

Thor Industries, Inc. (NYSE:THO) has earned a consensus recommendation of “Hold” from the twelve analysts that are covering the stock, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $104.00.

Several brokerages recently issued reports on THO. Roth Capital set a $93.00 price objective on shares of Thor Industries and gave the company a “neutral” rating in a research note on Wednesday, September 17th. Truist Financial dropped their price objective on shares of Thor Industries from $115.00 to $110.00 and set a “hold” rating for the company in a research note on Thursday, October 9th. Citigroup dropped their price objective on shares of Thor Industries from $122.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thor Industries in a research note on Wednesday, October 8th. Finally, KeyCorp raised shares of Thor Industries from an “underweight” rating to a “sector weight” rating in a research note on Friday, August 1st.

Hedge Funds Weigh In On Thor Industries

Several institutional investors and hedge funds have recently bought and sold shares of THO. Janney Montgomery Scott LLC boosted its holdings in Thor Industries by 21.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 143,691 shares of the RV manufacturer’s stock valued at $10,893,000 after purchasing an additional 24,938 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Thor Industries by 33.5% in the 1st quarter. QRG Capital Management Inc. now owns 20,453 shares of the RV manufacturer’s stock valued at $1,551,000 after purchasing an additional 5,136 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Thor Industries by 3.0% in the 1st quarter. State of Alaska Department of Revenue now owns 6,235 shares of the RV manufacturer’s stock valued at $472,000 after purchasing an additional 180 shares during the last quarter. Retirement Systems of Alabama boosted its holdings in Thor Industries by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 64,775 shares of the RV manufacturer’s stock valued at $4,911,000 after purchasing an additional 207 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Thor Industries by 43.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 547,659 shares of the RV manufacturer’s stock worth $41,518,000 after acquiring an additional 167,148 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Thor Industries Stock Up 0.1%

THO stock opened at $104.63 on Wednesday. Thor Industries has a 52 week low of $63.15 and a 52 week high of $118.85. The stock has a market capitalization of $5.51 billion, a P/E ratio of 25.09, a P/E/G ratio of 1.83 and a beta of 1.35. The company has a quick ratio of 0.90, a current ratio of 1.75 and a debt-to-equity ratio of 0.21. The firm has a 50-day simple moving average of $106.23 and a 200-day simple moving average of $91.24.

Thor Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Thursday, October 23rd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.0%. The ex-dividend date is Thursday, October 23rd. This is a positive change from Thor Industries’s previous quarterly dividend of $0.50. Thor Industries’s dividend payout ratio (DPR) is presently 47.96%.

Thor Industries declared that its board has authorized a stock repurchase plan on Monday, June 23rd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the RV manufacturer to purchase up to 8.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.