THOR Industries (NYSE:THO) Rating Lowered to “Sell” at StockNews.com

THOR Industries (NYSE:THO) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

Other analysts have also issued reports about the stock. Benchmark reiterated a “hold” rating on shares of THOR Industries in a report on Tuesday, December 3rd. DA Davidson restated a “neutral” rating and issued a $95.00 price objective on shares of THOR Industries in a report on Monday, September 30th. Truist Financial raised their price objective on shares of THOR Industries from $95.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Citigroup raised their price objective on shares of THOR Industries from $119.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $120.00 price objective on shares of THOR Industries in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $110.80.

THOR Industries Stock Performance

THOR Industries stock opened at $106.42 on Friday. The company has a current ratio of 1.71, a quick ratio of 0.82 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average of $109.10 and a 200-day moving average of $102.74. The firm has a market cap of $5.66 billion, a P/E ratio of 27.22 and a beta of 1.67. THOR Industries has a 1-year low of $88.37 and a 1-year high of $129.31.

THOR Industries (NYSE:THO) last posted its earnings results on Tuesday, September 24th. The construction company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.33. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.47 billion. THOR Industries had a net margin of 2.17% and a return on equity of 5.97%. THOR Industries’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.68 earnings per share. Sell-side analysts expect that THOR Industries will post 4.82 EPS for the current year.

Insider Activity

In other news, VP Colleen A. Zuhl sold 4,354 shares of THOR Industries stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $115.00, for a total transaction of $500,710.00. Following the completion of the transaction, the vice president now directly owns 131,905 shares in the company, valued at approximately $15,169,075. This trade represents a 3.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On THOR Industries

Several large investors have recently made changes to their positions in THO. Tortoise Investment Management LLC increased its position in shares of THOR Industries by 77.0% during the second quarter. Tortoise Investment Management LLC now owns 285 shares of the construction company’s stock valued at $27,000 after acquiring an additional 124 shares in the last quarter. Quarry LP bought a new stake in shares of THOR Industries during the second quarter valued at approximately $28,000. UMB Bank n.a. increased its position in shares of THOR Industries by 2,050.0% during the third quarter. UMB Bank n.a. now owns 258 shares of the construction company’s stock valued at $28,000 after acquiring an additional 246 shares in the last quarter. Blue Trust Inc. increased its position in shares of THOR Industries by 548.1% during the second quarter. Blue Trust Inc. now owns 337 shares of the construction company’s stock valued at $31,000 after acquiring an additional 285 shares in the last quarter. Finally, Van ECK Associates Corp bought a new stake in shares of THOR Industries during the third quarter valued at approximately $32,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

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.