THOR Industries (NYSE:THO) Hits New 52-Week Low – Here’s What Happened

THOR Industries, Inc. (NYSE:THO)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $75.27 and last traded at $75.83, with a volume of 21530 shares changing hands. The stock had previously closed at $77.08.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on THO shares. Truist Financial cut their price target on THOR Industries from $110.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, March 6th. Robert W. Baird cut their target price on THOR Industries from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. DA Davidson decreased their price target on THOR Industries from $95.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Bank of America upgraded shares of THOR Industries from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $125.00 in a research note on Monday, March 3rd. Finally, Citigroup lowered shares of THOR Industries from a “buy” rating to a “neutral” rating and decreased their target price for the company from $94.00 to $86.00 in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, THOR Industries currently has a consensus rating of “Hold” and an average target price of $93.00.

THOR Industries Price Performance

The firm has a market capitalization of $4.04 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.16 and a beta of 1.74. The business’s fifty day moving average is $94.11 and its 200 day moving average is $101.23. The company has a current ratio of 1.71, a quick ratio of 0.78 and a debt-to-equity ratio of 0.26.

THOR Industries (NYSE:THO) last posted its quarterly earnings results on Wednesday, March 5th. The construction company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.08). The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.98 billion. THOR Industries had a return on equity of 5.97% and a net margin of 2.17%. The company’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 EPS. As a group, analysts forecast that THOR Industries, Inc. will post 4.64 EPS for the current year.

THOR Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 8th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.63%. THOR Industries’s dividend payout ratio (DPR) is 53.05%.

Hedge Funds Weigh In On THOR Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of THOR Industries by 8.0% during the third quarter. FMR LLC now owns 29,716 shares of the construction company’s stock valued at $3,265,000 after buying an additional 2,205 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in THOR Industries by 8.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,884 shares of the construction company’s stock valued at $1,306,000 after acquiring an additional 949 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of THOR Industries by 46.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 501,479 shares of the construction company’s stock valued at $55,108,000 after purchasing an additional 159,022 shares during the period. Captrust Financial Advisors lifted its position in shares of THOR Industries by 21.1% in the third quarter. Captrust Financial Advisors now owns 2,992 shares of the construction company’s stock worth $329,000 after purchasing an additional 521 shares in the last quarter. Finally, Aureus Asset Management LLC acquired a new stake in shares of THOR Industries during the third quarter worth approximately $230,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

THOR Industries Company Profile

THOR Industries, Inc designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories in the United States, Canada, and Europe. The company offers travel trailers; gasoline and diesel Class A, Class B, and Class C motorhomes; conventional travel trailers and fifth wheels; luxury fifth wheels; and motorcaravans, caravans, campervans, and urban vehicles.