THOR Industries (NYSE:THO) Rating Increased to Buy at Bank of America

Bank of America upgraded shares of THOR Industries (NYSE:THO) from a neutral rating to a buy rating in a research report sent to investors on Monday, Marketbeat Ratings reports. The firm currently has $125.00 price objective on the construction company’s stock, up from their previous price objective of $110.00.

Several other analysts have also issued reports on the company. Benchmark restated a “hold” rating on shares of THOR Industries in a research note on Tuesday, December 3rd. Truist Financial upped their price objective on THOR Industries from $98.00 to $110.00 and gave the company a “hold” rating in a research note on Monday, February 10th. Finally, StockNews.com upgraded THOR Industries from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, THOR Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

THOR Industries Stock Performance

THO opened at $99.49 on Monday. THOR Industries has a 52-week low of $88.37 and a 52-week high of $128.80. The firm has a market capitalization of $5.29 billion, a PE ratio of 25.45, a PEG ratio of 1.16 and a beta of 1.69. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.78 and a current ratio of 1.71. The business’s 50-day simple moving average is $99.82 and its 200 day simple moving average is $104.25.

THOR Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Monday, January 6th. THOR Industries’s dividend payout ratio is currently 51.15%.

Institutional Investors Weigh In On THOR Industries

A number of large investors have recently added to or reduced their stakes in THO. Madison Investment Advisors LLC acquired a new stake in THOR Industries during the fourth quarter worth approximately $95,688,000. ACR Alpine Capital Research LLC grew its position in THOR Industries by 40.6% during the fourth quarter. ACR Alpine Capital Research LLC now owns 2,142,966 shares of the construction company’s stock worth $205,103,000 after buying an additional 619,318 shares in the last quarter. Norges Bank acquired a new stake in shares of THOR Industries in the 4th quarter valued at $54,754,000. Raymond James Financial Inc. acquired a new stake in shares of THOR Industries in the 4th quarter valued at $52,497,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of THOR Industries by 37.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,502,208 shares of the construction company’s stock valued at $165,078,000 after purchasing an additional 411,466 shares in the last quarter. Institutional investors and hedge funds 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.