Thor Industries (NYSE:THO) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Thor Industries (NYSE:THO) from a sell rating to a hold rating in a research report report published on Saturday,Wall Street Zen reports.

A number of other analysts have also recently weighed in on THO. Argus upgraded Thor Industries to a “hold” rating in a research report on Friday, June 12th. Benchmark restated a “hold” rating on shares of Thor Industries in a research report on Friday, June 12th. Roth Capital set a $78.00 price objective on Thor Industries in a research note on Thursday, June 4th. Bank of America cut their target price on Thor Industries from $120.00 to $96.00 and set a “buy” rating on the stock in a research note on Thursday, June 4th. Finally, Truist Financial cut their target price on Thor Industries from $109.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $92.33.

Thor Industries Trading Up 1.5%

NYSE THO opened at $76.93 on Friday. Thor Industries has a one year low of $69.71 and a one year high of $122.83. The company has a 50-day simple moving average of $76.91 and a 200-day simple moving average of $80.13. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.80 and a current ratio of 1.71. The firm has a market capitalization of $4.00 billion, a PE ratio of 33.30, a price-to-earnings-growth ratio of 1.69 and a beta of 1.34.

Thor Industries (NYSE:THO) last released its quarterly earnings data on Wednesday, June 3rd. The RV manufacturer reported $1.86 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.02). Thor Industries had a return on equity of 5.74% and a net margin of 2.67%.The business had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter last year, the company earned $2.53 EPS. Thor Industries’s revenue was down 3.9% compared to the same quarter last year. On average, equities analysts forecast that Thor Industries will post 3.21 earnings per share for the current year.

Thor Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Wednesday, July 1st. Thor Industries’s payout ratio is 90.04%.

Institutional Trading of Thor Industries

Several large investors have recently added to or reduced their stakes in the business. Corient Private Wealth LP raised its stake in Thor Industries by 32.5% during the 2nd quarter. Corient Private Wealth LP now owns 34,935 shares of the RV manufacturer’s stock valued at $2,626,000 after acquiring an additional 8,572 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Thor Industries in the second quarter worth $248,000. California State Teachers Retirement System grew its stake in shares of Thor Industries by 7,200.4% in the second quarter. California State Teachers Retirement System now owns 4,324,556 shares of the RV manufacturer’s stock worth $325,034,000 after purchasing an additional 4,265,319 shares in the last quarter. Copley Financial Group Inc. grew its stake in shares of Thor Industries by 24.0% in the second quarter. Copley Financial Group Inc. now owns 4,770 shares of the RV manufacturer’s stock worth $359,000 after purchasing an additional 922 shares in the last quarter. Finally, Nykredit A S acquired a new position in shares of Thor Industries during the second quarter valued at $229,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

About Thor Industries

Thor Industries, Inc is a leading manufacturer of recreational vehicles (RVs) and related components for the leisure travel market. Through its family of well-known brands—such as Airstream, Heartland, Jayco, Keystone RV and Thor Motor Coach—the company designs, manufactures and sells a broad range of motorized and towable RVs, complemented by aftermarket parts and service solutions. Thor offers products that span travel trailers, fifth wheels, toy haulers and Class A, B and C motorhomes, addressing both entry-level and premium segments.

Founded in 1980 when Wade Thompson and Peter Orthwein acquired Airstream from Beatrice Foods, Thor Industries has grown organically and through strategic acquisitions to become one of the largest RV producers in the world.