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

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Zacks Research raised shares of Thor Industries from a “strong sell” rating to a “hold” rating in a report on Monday, August 24th. BMO Capital Markets reduced their target price 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. Roth Capital reissued a “neutral” rating and issued a $74.00 price target on shares of Thor Industries in a research report on Wednesday, September 23rd. Truist Financial boosted their price target on shares of Thor Industries from $80.00 to $87.00 and gave the company a “hold” rating in a research report on Thursday, October 8th. Finally, Citigroup dropped their price target on shares of Thor Industries from $76.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Thor Industries presently has an average rating of “Hold” and a consensus target price of $85.00.

Thor Industries Price Performance

The business’s 50-day moving average price is $73.03 and its 200 day moving average price is $75.45. The company has a quick ratio of 0.85, a current ratio of 1.77 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $3.53 billion, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 0.96 and a beta of 1.43.

Thor Industries (NYSE:THO) last posted its earnings results on Tuesday, September 22nd. The RV manufacturer reported $0.78 earnings per share (EPS) 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 firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter in the prior year, the company earned $2.36 earnings per share. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. Analysts anticipate that Thor Industries, Inc. will post 4.09 EPS for the current fiscal year.

Thor Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Tuesday, October 27th will be given a dividend of $0.54 per share. The ex-dividend date is Tuesday, October 27th. This is a positive change from Thor Industries’s previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a yield of 3.2%. Thor Industries’s dividend payout ratio (DPR) is presently 61.36%.

Institutional Trading of Thor Industries

Several institutional investors and hedge funds have recently modified their holdings of THO. Waverly Advisors LLC lifted 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 valued at $483,000 after purchasing an additional 271 shares during the last quarter. State of Michigan Retirement System lifted its holdings in shares of Thor Industries by 2.4% during the 1st quarter. State of Michigan Retirement System now owns 12,718 shares of the RV manufacturer’s stock worth $1,016,000 after acquiring an additional 300 shares during the last quarter. Allworth Financial LP bought a new stake in shares of Thor Industries during the 2nd quarter worth $26,000. Oregon Public Employees Retirement Fund grew its position in Thor Industries by 3.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 10,863 shares of the RV manufacturer’s stock worth $868,000 after acquiring an additional 371 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Thor Industries by 0.7% in the first quarter. Janney Montgomery Scott LLC now owns 62,451 shares of the RV manufacturer’s stock worth $4,989,000 after acquiring an additional 405 shares in the last quarter. 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.