SunTrust Banks Comments on Thor Industries, Inc.’s FY2019 Earnings (NYSE:THO)

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Thor Industries, Inc. (NYSE:THO) – Stock analysts at SunTrust Banks reduced their FY2019 earnings estimates for Thor Industries in a research note issued to investors on Monday, June 10th. SunTrust Banks analyst M. Swartz now expects that the construction company will earn $5.30 per share for the year, down from their prior estimate of $5.40. SunTrust Banks currently has a “Buy” rating and a $80.00 target price on the stock. SunTrust Banks also issued estimates for Thor Industries’ Q4 2019 earnings at $1.66 EPS, Q3 2020 earnings at $2.04 EPS, Q4 2020 earnings at $1.99 EPS and FY2021 earnings at $6.35 EPS.

THO has been the subject of several other reports. ValuEngine downgraded Thor Industries from a “sell” rating to a “strong sell” rating in a research note on Thursday, February 28th. Zacks Investment Research downgraded Thor Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, March 12th. Bank of America assumed coverage on Thor Industries in a research note on Tuesday, March 26th. They set an “underperform” rating and a $62.00 price objective for the company. Finally, Jefferies Financial Group assumed coverage on Thor Industries in a research note on Thursday, March 28th. They set a “hold” rating and a $65.00 price objective for the company. Three analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $86.13.

THO opened at $54.12 on Wednesday. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 6.33, a P/E/G ratio of 0.71 and a beta of 1.82. Thor Industries has a 52 week low of $47.71 and a 52 week high of $109.94.

Thor Industries (NYSE:THO) last posted its quarterly earnings data on Monday, June 10th. The construction company reported $1.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by ($0.01). The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Thor Industries had a net margin of 3.21% and a return on equity of 17.27%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.53 earnings per share.

Several hedge funds have recently modified their holdings of THO. Raymond James & Associates raised its stake in shares of Thor Industries by 56.0% during the 4th quarter. Raymond James & Associates now owns 47,543 shares of the construction company’s stock worth $2,472,000 after buying an additional 17,062 shares in the last quarter. South Dakota Investment Council raised its stake in shares of Thor Industries by 184.3% during the 4th quarter. South Dakota Investment Council now owns 151,800 shares of the construction company’s stock worth $7,894,000 after buying an additional 98,400 shares in the last quarter. Piedmont Investment Advisors Inc. raised its stake in shares of Thor Industries by 44.2% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 4,332 shares of the construction company’s stock worth $225,000 after buying an additional 1,328 shares in the last quarter. Cerity Partners LLC purchased a new position in shares of Thor Industries during the 4th quarter worth approximately $480,000. Finally, Eagle Ridge Investment Management raised its stake in shares of Thor Industries by 20.8% during the 4th quarter. Eagle Ridge Investment Management now owns 92,995 shares of the construction company’s stock worth $4,836,000 after buying an additional 16,004 shares in the last quarter. 87.01% of the stock is owned by institutional investors and hedge funds.

About Thor Industries

Thor Industries, Inc, through its subsidiaries, designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories primarily in the United States and Canada. It operates in two segments, Towable Recreational Vehicles and Motorized Recreational Vehicles. The company offers travel trailers under the Airstream Classic, International, Tommy Bahama, Flying Cloud, Sport, Basecamp, and Nest travel trade names, as well as Interstate series of Class B motorhomes; and gasoline and diesel Class A and Class C motorhomes under the Four Winds, Freedom Elite, Majestic, Hurricane, Chateau, Windsport, Axis, Vegas, Tuscany, Palazzo, Aria, Quantum, Compass, Gemini, and A.C.E trade names.

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Earnings History and Estimates for Thor Industries (NYSE:THO)

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