Thor Industries (NYSE:THO) Stock Price Up 7.1% – Still a Buy?

Thor Industries, Inc. (NYSE:THO) shot up 7.1% on Thursday. The stock traded as high as $68.09 and last traded at $70.1390. Approximately 24,339 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 716,580 shares. The stock had previously closed at $65.47.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on THO shares. Bank of America decreased their target price on Thor Industries from $96.00 to $86.00 and set a “buy” rating for the company in a report on Monday, September 21st. Truist Financial boosted their price objective on shares of Thor Industries from $80.00 to $87.00 and gave the stock a “hold” rating in a research note on Thursday, October 8th. Citigroup dropped their price objective on shares of Thor Industries from $76.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday. Roth Capital reissued a “neutral” rating and issued a $74.00 target price on shares of Thor Industries in a research note on Wednesday, September 23rd. Finally, Zacks Research raised shares of Thor Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Thor Industries has a consensus rating of “Hold” and a consensus price target of $85.00.

Thor Industries Price Performance

The company has a market cap of $3.63 billion, a price-to-earnings ratio of 20.84, a P/E/G ratio of 0.89 and a beta of 1.43. The company’s 50-day simple moving average is $73.41 and its 200-day simple moving average is $75.57. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.77 and a quick ratio of 0.85.

Thor Industries (NYSE:THO) last posted its earnings results on Tuesday, September 22nd. The RV manufacturer reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.10). Thor Industries had a return on equity of 3.76% and a net margin of 1.85%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same period in the previous year, the firm posted $2.36 earnings per share. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, equities research analysts anticipate that Thor Industries, Inc. will post 4.09 EPS for the current year.

Thor Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Tuesday, October 27th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, October 27th. This is a positive change from Thor Industries’s previous quarterly dividend of $0.52. Thor Industries’s dividend payout ratio (DPR) is 61.36%.

Institutional Investors Weigh In On Thor Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP purchased a new position in Thor Industries in the 2nd quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Thor Industries during the second quarter valued at about $52,000. Versant Capital Management Inc increased its position in shares of Thor Industries by 865.7% during the third quarter. Versant Capital Management Inc now owns 985 shares of the RV manufacturer’s stock worth $68,000 after acquiring an additional 883 shares during the last quarter. Koshinski Asset Management Inc. increased its position in shares of Thor Industries by 32.2% during the first quarter. Koshinski Asset Management Inc. now owns 2,592 shares of the RV manufacturer’s stock worth $207,000 after acquiring an additional 631 shares during the last quarter. Finally, Maridea Wealth Management LLC acquired a new position in shares of Thor Industries in the first quarter worth about $220,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Thor Industries Company Profile

Thor Industries, Inc is a recreational vehicle (RV) manufacturer headquartered in Elkhart, Indiana. The company designs, manufactures, and sells towable and motorized RVs, including travel trailers, fifth wheels, conventional motorhomes, and touring coaches. Its products are marketed for vacation travel, camping, and other forms of recreational use.

Thor’s North American portfolio includes well-known brands such as Airstream, Jayco, Keystone, Dutchmen, and CrossRoads. Airstream produces premium travel trailers and touring coaches, while the company’s other brands serve a broad range of customers and price points across the RV market.

Thor also operates internationally through the Erwin Hymer Group, a major European recreational vehicle platform.