Thor Industries (NYSE:THO) Stock Price Up 7.1% – Should You Buy?

Shares of Thor Industries, Inc. (NYSE:THO) traded up 7.1% on Thursday. The company traded as high as $68.09 and last traded at $70.1390. 24,339 shares were traded during trading, a decline of 97% from the average session volume of 716,580 shares. The stock had previously closed at $65.47.

Analysts Set New Price Targets

THO has been the topic of several recent research reports. Robert W. Baird dropped their price objective on shares of Thor Industries from $90.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, September 23rd. Zacks Research raised shares of Thor Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. Bank of America decreased their price target on shares of Thor Industries from $96.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday, September 21st. BMO Capital Markets dropped their price objective on shares of Thor Industries from $110.00 to $95.00 and set an “outperform” rating for the company in a research note on Tuesday, September 15th. Finally, Truist Financial increased their price objective on shares of Thor Industries from $80.00 to $87.00 and gave the company a “hold” rating in a report on Thursday, October 8th. Three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Thor Industries currently has an average 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 PE ratio of 20.84, a PEG ratio of 0.89 and a beta of 1.43. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.85 and a current ratio of 1.77. The company’s 50-day simple moving average is $73.41 and its 200 day simple moving average is $75.57.

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 the consensus estimate of $0.88 by ($0.10). Thor Industries had a return on equity of 3.76% and a net margin of 1.85%. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter last year, the company earned $2.36 EPS. Thor Industries’s revenue for the quarter was down 8.4% compared to the same quarter last year. On average, sell-side analysts predict that Thor Industries, Inc. will post 4.09 earnings per share for the current fiscal year.

Thor Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Tuesday, October 27th will be paid 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 payout ratio is currently 61.36%.

Hedge Funds Weigh In On Thor Industries

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its stake in shares of Thor Industries by 108.0% during the third quarter. GAMMA Investing LLC now owns 6,487 shares of the RV manufacturer’s stock worth $448,000 after acquiring an additional 3,368 shares during the period. Versant Capital Management Inc increased its position in 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 buying an additional 883 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Thor Industries by 32.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,310 shares of the RV manufacturer’s stock valued at $850,000 after buying an additional 2,795 shares during the last quarter. Triad Investment Management increased its stake in Thor Industries by 10.9% in the second quarter. Triad Investment Management now owns 51,900 shares of the RV manufacturer’s stock valued at $3,901,000 after purchasing an additional 5,088 shares during the last quarter. Finally, Waverly Advisors LLC increased its position in Thor Industries by 4.4% during the second quarter. Waverly Advisors LLC now owns 6,431 shares of the RV manufacturer’s stock worth $483,000 after purchasing an additional 271 shares during the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

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.