Thor Industries (NYSE:THO) Stock Gets Price Target Cut from Citigroup

Thor Industries (NYSE:THO) had its price target cut by Citigroup from $76.00 to $70.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the RV manufacturer’s stock.

THO has been the subject of several other reports. Bank of America lowered their target price on Thor Industries from $96.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, September 21st. Roth Capital restated a “neutral” rating and set a $74.00 target price on shares of Thor Industries in a research report on Wednesday, September 23rd. DA Davidson cut their price target on Thor Industries from $100.00 to $80.00 and set a “neutral” rating on the stock in a research note on Monday, June 15th. BMO Capital Markets decreased their price target on Thor Industries from $110.00 to $95.00 and set an “outperform” rating on the stock in a report on Tuesday, September 15th. Finally, Truist Financial raised their price target on Thor Industries from $80.00 to $87.00 and gave the company a “hold” rating in a report on Thursday, October 8th. Three equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Thor Industries currently has an average rating of “Hold” and an average price target of $85.00.

Thor Industries Price Performance

THO opened at $69.93 on Tuesday. Thor Industries has a one year low of $62.83 and a one year high of $122.83. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.77 and a quick ratio of 0.85. The company’s 50 day simple moving average is $73.26 and its 200-day simple moving average is $75.50. The stock has a market capitalization of $3.61 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 0.90 and a beta of 1.43.

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

Thor Industries Increases Dividend

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

Hedge Funds Weigh In On Thor Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of THO. Allworth Financial LP acquired a new stake in Thor Industries during the 2nd quarter worth $26,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Thor Industries in the 2nd quarter valued at $52,000. Versant Capital Management Inc lifted its stake in shares of Thor Industries by 865.7% in the 3rd quarter. Versant Capital Management Inc now owns 985 shares of the RV manufacturer’s stock valued at $68,000 after purchasing an additional 883 shares during the period. Koshinski Asset Management Inc. boosted its position in shares of Thor Industries by 32.2% in the 1st quarter. Koshinski Asset Management Inc. now owns 2,592 shares of the RV manufacturer’s stock worth $207,000 after purchasing an additional 631 shares during the last quarter. Finally, Maridea Wealth Management LLC bought a new position in shares of Thor Industries in the 1st quarter worth $220,000. 96.71% of the stock is owned by institutional investors.

About Thor Industries

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.