Thor Industries (NYSE:THO) Now Covered by Analysts at Wells Fargo & Company

Research analysts at Wells Fargo & Company began coverage on shares of Thor Industries (NYSE:THO) in a report released on Monday, Briefing.com reports. The firm set an “equal weight” rating and a $80.00 price target on the RV manufacturer’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 0.99% from the stock’s current price.

THO has been the topic of several other research reports. Roth Capital restated a “neutral” rating and issued a $74.00 target price on shares of Thor Industries in a report on Wednesday, September 23rd. BMO Capital Markets lowered their price target on shares of Thor Industries from $110.00 to $95.00 and set an “outperform” rating for the company in a report on Tuesday, September 15th. Zacks Research raised shares of Thor Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, August 24th. Bank of America cut their price target on shares of Thor Industries from $96.00 to $86.00 and set a “buy” rating on the stock in a report on Monday, September 21st. Finally, Weiss Ratings upgraded shares of Thor Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Three analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $84.50.

Thor Industries Price Performance

THO opened at $80.80 on Monday. The stock’s 50 day simple moving average is $71.46 and its 200 day simple moving average is $81.25. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.77 and a quick ratio of 0.85. Thor Industries has a 1 year low of $62.83 and a 1 year high of $122.83. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 1.10 and a beta of 1.53.

Thor Industries (NYSE:THO) last announced its quarterly earnings results on Tuesday, September 22nd. The RV manufacturer reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.10). Thor Industries had a return on equity of 3.76% and a net margin of 1.85%. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same period last year, the firm earned $2.36 earnings per share. Thor Industries’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, analysts predict that Thor Industries will post 4.09 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new position in shares of Thor Industries in the 2nd quarter valued at approximately $1,077,000. Edgestream Partners L.P. boosted its position in shares of Thor Industries by 133.0% during the first quarter. Edgestream Partners L.P. now owns 26,816 shares of the RV manufacturer’s stock valued at $2,142,000 after purchasing an additional 15,309 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Thor Industries in the second quarter worth $65,419,000. Bank of America Corp DE purchased a new stake in Thor Industries in the second quarter worth $6,886,000. Finally, QV Investors Inc. raised its holdings in Thor Industries by 79.3% in the second quarter. QV Investors Inc. now owns 197,996 shares of the RV manufacturer’s stock worth $14,881,000 after purchasing an additional 87,590 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.

Thor Industries Company Profile

Thor Industries is a manufacturer of recreational vehicles (RVs), including towable travel trailers and fifth wheels, as well as motorhomes. Its products serve consumers seeking options for road travel, camping and other forms of leisure recreation.

The company sells RVs through a portfolio of brands that includes Airstream, Jayco, Keystone RV, Tiffin Motorhomes and the European-based Erwin Hymer Group. Its brands offer a range of vehicle styles and configurations for different customers and markets.

Founded in 1980 with the acquisition of Airstream, Thor Industries is headquartered in Elkhart, Indiana.