Thor Industries (NYSE:THO) Stock Price Crosses Above Fifty Day Moving Average – Should You Sell?

Shares of Thor Industries, Inc. (NYSE:THO) crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $71.32 and traded as high as $73.82. Thor Industries shares last traded at $73.5670, with a volume of 724,237 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on THO shares. Truist Financial raised their price objective on shares of Thor Industries from $80.00 to $87.00 and gave the company a “hold” rating in a research note on Thursday, October 8th. Citigroup decreased their target price on shares of Thor Industries from $76.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, October 13th. Weiss Ratings downgraded shares of Thor Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, September 28th. Wall Street Zen lowered shares of Thor Industries from a “hold” rating to a “sell” rating in a report on Saturday, September 19th. Finally, Bank of America dropped 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 report on Monday, September 21st. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $85.00.

Thor Industries Stock Up 0.4%

The company has a current ratio of 1.77, a quick ratio of 0.85 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $3.82 billion, a PE ratio of 21.81, a P/E/G ratio of 1.01 and a beta of 1.43. The stock’s fifty day simple moving average is $71.23 and its 200-day simple moving average is $82.10.

Thor Industries (NYSE:THO) last announced its quarterly earnings data 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 firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same period last year, the business posted $2.36 EPS. The company’s revenue was down 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Thor Industries, Inc. will post 4.09 EPS 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. Stockholders of record on Tuesday, October 27th will be given a dividend of $0.54 per share. This is a boost from Thor Industries’s previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Tuesday, October 27th. Thor Industries’s dividend payout ratio (DPR) is currently 63.72%.

Institutional Investors Weigh In On Thor Industries

A number of institutional investors and hedge funds have recently modified their holdings of THO. ACR Alpine Capital Research LLC lifted its stake in Thor Industries by 18.6% during the first quarter. ACR Alpine Capital Research LLC now owns 4,903,124 shares of the RV manufacturer’s stock worth $391,711,000 after purchasing an additional 769,342 shares during the last quarter. BlackRock Inc. bought a new position in shares of Thor Industries during the 2nd quarter valued at about $363,258,000. Dimensional Fund Advisors LP increased its position in shares of Thor Industries by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,146,574 shares of the RV manufacturer’s stock valued at $251,375,000 after purchasing an additional 96,080 shares during the last quarter. Madison Asset Management LLC purchased a new position in shares of Thor Industries during the 2nd quarter valued at about $66,217,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Thor Industries during the 2nd quarter valued at about $65,419,000. 96.71% of the stock is owned by hedge funds and other institutional investors.

Thor Industries Company Profile

Thor Industries, Inc is a manufacturer of recreational vehicles (RVs) and related products. The company produces towable RVs, including travel trailers and fifth-wheel trailers, as well as motorized RVs such as Class A, Class B and Class C motorhomes. Its products are marketed to consumers seeking options for travel, camping and outdoor recreation.

Thor’s portfolio includes a broad range of brands, including Airstream, Jayco, Keystone RV, Entegra Coach, Tiffin and Dutchmen in North America.