Zacks Investment Research cut shares of Thor Industries, Inc. (NYSE:THO) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday, August 8th.
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. “
Several other brokerages have also recently weighed in on THO. Off Wall Street assumed coverage on shares of Thor Industries in a research report on Thursday, June 29th. They issued a sell rating and a $75.00 price target on the stock. BidaskClub cut shares of Thor Industries from a hold rating to a sell rating in a research report on Thursday, July 27th. BMO Capital Markets cut shares of Thor Industries from an outperform rating to a market perform rating in a research report on Thursday, July 6th. Stifel Nicolaus began coverage on shares of Thor Industries in a research report on Thursday, July 6th. They set a hold rating and a $110.00 price objective on the stock. Finally, Citigroup Inc. reiterated a buy rating and set a $118.00 price objective (up previously from $111.00) on shares of Thor Industries in a research report on Friday, June 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $109.22.
Thor Industries (NYSE THO) traded up 0.14% during trading on Tuesday, hitting $102.73. 327,918 shares of the company traded hands. Thor Industries has a 52 week low of $74.00 and a 52 week high of $115.74. The stock has a market capitalization of $5.40 billion, a PE ratio of 16.03 and a beta of 1.40. The company’s 50 day moving average is $104.58 and its 200-day moving average is $101.09.
Thor Industries (NYSE:THO) last announced its quarterly earnings results on Monday, June 5th. The construction company reported $2.11 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.24. Thor Industries had a net margin of 5.11% and a return on equity of 24.83%. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the business posted $1.51 earnings per share. Thor Industries’s quarterly revenue was up 56.9% on a year-over-year basis. Analysts predict that Thor Industries will post $6.77 earnings per share for the current year.
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In other news, Director Alan Siegel sold 1,000 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $103.19, for a total transaction of $103,190.00. Following the completion of the sale, the director now directly owns 5,988 shares of the company’s stock, valued at $617,901.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.60% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the stock. Huntington National Bank raised its stake in shares of Thor Industries by 82.0% in the second quarter. Huntington National Bank now owns 983 shares of the construction company’s stock worth $103,000 after buying an additional 443 shares in the last quarter. Sterling Investment Advisors Ltd. bought a new stake in shares of Thor Industries during the second quarter worth about $105,000. Fiduciary Trust Co. bought a new stake in shares of Thor Industries during the second quarter worth about $133,000. Winslow Evans & Crocker Inc. acquired a new stake in Thor Industries during the first quarter worth $154,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Thor Industries by 72.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,621 shares of the construction company’s stock worth $156,000 after buying an additional 682 shares during the period. 89.62% of the stock is 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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