THOR Industries (NYSE:THO) Hits New 12-Month Low Following Weak Earnings

THOR Industries, Inc. (NYSE:THO)’s share price reached a new 52-week low on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $86.60 and last traded at $80.30, with a volume of 3372 shares changing hands. The stock had previously closed at $95.23.

The construction company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.08). The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.98 billion. THOR Industries had a net margin of 2.17% and a return on equity of 5.97%. The company’s revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 earnings per share.

THOR Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were issued a $0.50 dividend. The ex-dividend date was Monday, January 6th. This represents a $2.00 annualized dividend and a yield of 2.45%. THOR Industries’s dividend payout ratio is presently 51.15%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on THO shares. Benchmark reiterated a “hold” rating on shares of THOR Industries in a research note on Tuesday, December 3rd. Bank of America upgraded shares of THOR Industries from a “neutral” rating to a “buy” rating and boosted their target price for the company from $110.00 to $125.00 in a research note on Monday. StockNews.com upgraded shares of THOR Industries from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Finally, Truist Financial boosted their target price on shares of THOR Industries from $98.00 to $110.00 and gave the company a “hold” rating in a research note on Monday, February 10th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Institutional Investors Weigh In On THOR Industries

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Castlekeep Investment Advisors LLC acquired a new stake in THOR Industries in the 4th quarter valued at about $440,000. Neo Ivy Capital Management lifted its stake in THOR Industries by 11.7% during the fourth quarter. Neo Ivy Capital Management now owns 2,451 shares of the construction company’s stock valued at $234,000 after buying an additional 257 shares in the last quarter. Waverly Advisors LLC lifted its stake in THOR Industries by 57.6% during the fourth quarter. Waverly Advisors LLC now owns 5,535 shares of the construction company’s stock valued at $530,000 after buying an additional 2,023 shares in the last quarter. Vident Advisory LLC lifted its stake in THOR Industries by 10.5% during the fourth quarter. Vident Advisory LLC now owns 9,431 shares of the construction company’s stock valued at $903,000 after buying an additional 897 shares in the last quarter. Finally, Southpoint Capital Advisors LP lifted its position in shares of THOR Industries by 73.2% in the fourth quarter. Southpoint Capital Advisors LP now owns 606,149 shares of the construction company’s stock worth $58,015,000 after purchasing an additional 256,149 shares in the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

THOR Industries Stock Down 14.5 %

The business’s 50-day moving average price is $99.81 and its 200-day moving average price is $104.20. The company has a quick ratio of 0.78, a current ratio of 1.71 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $4.34 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 1.16 and a beta of 1.69.

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.