Thor Industries Inc. (THO) Stock Rating Upgraded by Zacks Investment Research
Thor Industries Inc. (NYSE:THO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage presently has a $96.00 target price on the stock. Zacks Investment Research’s target price suggests a potential upside of 13.14% from the stock’s current price.
According to Zacks, “Thor Industries manufactures a wide range of recreational vehicles (RVs) at various manufacturing facilities located in Indiana and Ohio and sold through independent dealers in the U.S. and Canada. “
Other equities research analysts also recently issued research reports about the company. BMO Capital Markets downgraded Thor Industries from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $72.00 to $67.00 in a report on Wednesday, June 8th. They noted that the move was a valuation call. Wellington Shields raised Thor Industries from a “hold” rating to a “gradually accumulate” rating in a report on Monday, June 27th. Wunderlich downgraded Thor Industries from a “buy” rating to a “hold” rating and set a $80.00 price target for the company. in a report on Friday, August 19th. Northcoast Research raised Thor Industries from a “neutral” rating to a “buy” rating and set a $95.00 price target for the company in a report on Tuesday, September 13th. Finally, SunTrust Banks Inc. raised Thor Industries from a “neutral” rating to a “buy” rating and raised their price target for the stock from $65.00 to $90.00 in a report on Friday, July 29th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $80.63.
Shares of Thor Industries (NYSE:THO) opened at 84.85 on Thursday. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 17.38 and a beta of 1.26. The company has a 50-day moving average of $81.75 and a 200 day moving average of $70.93. Thor Industries has a 12-month low of $47.56 and a 12-month high of $87.08.
Thor Industries (NYSE:THO) last issued its quarterly earnings results on Monday, September 26th. The company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.24. The business earned $1.29 billion during the quarter. Thor Industries had a return on equity of 22.50% and a net margin of 5.60%. Thor Industries’s revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.31 EPS. Analysts predict that Thor Industries will post $5.89 earnings per share for the current year.
In related news, Chairman Peter Busch Orthwein sold 4,672 shares of Thor Industries stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $85.69, for a total transaction of $400,343.68. Following the completion of the transaction, the chairman now directly owns 1,400,252 shares in the company, valued at $119,987,593.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Investec Asset Management LTD bought a new position in shares of Thor Industries during the first quarter valued at $117,584,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Thor Industries during the second quarter valued at $35,824,000. Goldman Sachs Group Inc. boosted its position in shares of Thor Industries by 161.3% in the first quarter. Goldman Sachs Group Inc. now owns 410,690 shares of the company’s stock valued at $26,190,000 after buying an additional 253,519 shares in the last quarter. Scout Investments Inc. boosted its position in shares of Thor Industries by 24.8% in the second quarter. Scout Investments Inc. now owns 891,939 shares of the company’s stock valued at $57,744,000 after buying an additional 177,444 shares in the last quarter. Finally, Origin Asset Management LLP bought a new position in shares of Thor Industries during the first quarter valued at $9,830,000. Institutional investors own 85.70% of the company’s stock.
About Thor Industries
Thor Industries, Inc (Thor), manufactures and sells various recreational vehicles (RV) throughout the United States and Canada, as well as related parts and accessories. The principal types of The Company’s towable recreational vehicles that the Company produces include conventional travel trailers and fifth wheels.
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