THOR Industries (NYSE:THO) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of THOR Industries (NYSE:THO) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

Several other brokerages have also issued reports on THO. Bank of America assumed coverage on shares of THOR Industries in a report on Friday, December 13th. They issued a “neutral” rating and a $120.00 price objective on the stock. Benchmark restated a “hold” rating on shares of THOR Industries in a report on Tuesday, December 3rd. Truist Financial increased their price objective on shares of THOR Industries from $95.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Citigroup boosted their target price on THOR Industries from $119.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, DA Davidson restated a “neutral” rating and set a $95.00 price target on shares of THOR Industries in a research report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $112.33.

THOR Industries Stock Down 0.6 %

THO stock opened at $95.84 on Wednesday. THOR Industries has a one year low of $88.37 and a one year high of $129.31. The firm has a market cap of $5.10 billion, a PE ratio of 24.51 and a beta of 1.67. The firm’s 50 day moving average price is $106.92 and its 200-day moving average price is $103.14. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.78 and a current ratio of 1.71.

THOR Industries (NYSE:THO) last posted its earnings results on Tuesday, September 24th. The construction company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.33. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.47 billion. THOR Industries had a return on equity of 5.97% and a net margin of 2.17%. The firm’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.68 earnings per share. On average, equities research analysts anticipate that THOR Industries will post 4.67 EPS for the current year.

THOR Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, January 6th will be issued a $0.50 dividend. The ex-dividend date is Monday, January 6th. This represents a $2.00 dividend on an annualized basis and a yield of 2.09%. THOR Industries’s dividend payout ratio (DPR) is presently 51.15%.

Insiders Place Their Bets

In other news, VP Colleen A. Zuhl sold 4,354 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $115.00, for a total value of $500,710.00. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On THOR Industries

Several large investors have recently bought and sold shares of THO. Tortoise Investment Management LLC raised its holdings in THOR Industries by 77.0% during the second quarter. Tortoise Investment Management LLC now owns 285 shares of the construction company’s stock worth $27,000 after purchasing an additional 124 shares in the last quarter. Quarry LP purchased a new position in shares of THOR Industries in the 2nd quarter valued at $28,000. UMB Bank n.a. raised its stake in THOR Industries by 2,050.0% during the 3rd quarter. UMB Bank n.a. now owns 258 shares of the construction company’s stock worth $28,000 after acquiring an additional 246 shares in the last quarter. Van ECK Associates Corp purchased a new stake in THOR Industries in the third quarter valued at $32,000. Finally, International Assets Investment Management LLC acquired a new position in THOR Industries in the second quarter valued at $33,000. 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.