Zacks Investment Research upgraded shares of Thor Industries, Inc. (NYSE:THO) from a hold rating to a buy rating in a research note released on Saturday morning. They currently have $120.00 target price on the construction company’s stock.
According to Zacks, “Thor Industries manufactures a wide range of recreational vehicles (RVs) at various manufacturing facilities located in Indiana and Ohio and sold through independent dealers in the U.S. and Canada. “
Other equities research analysts also recently issued research reports about the company. Citigroup Inc. reissued a buy rating and set a $111.00 target price (down previously from $117.00) on shares of Thor Industries in a report on Saturday, April 22nd. SunTrust Banks, Inc. set a $125.00 target price on Thor Industries and gave the stock a buy rating in a report on Thursday, April 20th. Wunderlich lifted their target price on Thor Industries from $80.00 to $94.00 and gave the stock a buy rating in a report on Tuesday, March 7th. Finally, BMO Capital Markets reissued a market perform rating and set a $110.00 target price (up previously from $97.00) on shares of Thor Industries in a report on Tuesday, June 6th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $110.30.
Shares of Thor Industries (NYSE THO) opened at 107.94 on Friday. Thor Industries has a one year low of $60.05 and a one year high of $115.74. The firm has a 50-day moving average of $96.76 and a 200 day moving average of $100.36. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 16.84 and a beta of 1.31.
Thor Industries (NYSE:THO) last posted its earnings results on Monday, June 5th. The construction company reported $2.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.24. Thor Industries had a return on equity of 24.83% and a net margin of 5.11%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the firm earned $1.51 earnings per share. The company’s revenue was up 56.9% on a year-over-year basis. Equities research analysts anticipate that Thor Industries will post $6.75 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 12th. Investors of record on Friday, June 23rd will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Wednesday, June 21st. Thor Industries’s dividend payout ratio (DPR) is presently 20.63%.
In related news, Director Alan Siegel sold 1,000 shares of the business’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $103.19, for a total value of $103,190.00. Following the completion of the transaction, the director now owns 5,988 shares of the company’s stock, valued at $617,901.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.60% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Thor Industries by 5.7% in the first quarter. Vanguard Group Inc. now owns 3,993,691 shares of the construction company’s stock worth $383,913,000 after buying an additional 214,042 shares during the period. BlackRock Inc. increased its position in Thor Industries by 14,578.8% in the first quarter. BlackRock Inc. now owns 3,792,127 shares of the construction company’s stock worth $364,538,000 after buying an additional 3,766,293 shares during the period. State Street Corp increased its position in Thor Industries by 5.0% in the first quarter. State Street Corp now owns 1,320,280 shares of the construction company’s stock worth $126,925,000 after buying an additional 62,855 shares during the period. JPMorgan Chase & Co. increased its position in Thor Industries by 217.6% in the first quarter. JPMorgan Chase & Co. now owns 1,173,336 shares of the construction company’s stock worth $112,792,000 after buying an additional 803,868 shares during the period. Finally, AQR Capital Management LLC increased its position in Thor Industries by 19.5% in the first quarter. AQR Capital Management LLC now owns 1,053,386 shares of the construction company’s stock worth $101,262,000 after buying an additional 171,908 shares during the period. 91.52% of the stock is owned by institutional investors and hedge funds.
About Thor Industries
Thor Industries, Inc manufactures a range of recreational vehicles (RVs) in the United States and sells those vehicles primarily in the United States and Canada. The Company’s segments include towable recreational vehicles, which consists of the operations of Airstream, Inc (Airstream) (towable); Heartland Recreational Vehicles, LLC (Heartland) (including Bison Coach, LLC (Bison), Cruiser RV, LLC (CRV) and DRV, LLC (DRV)); Jayco, Corp.
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