Thor Industries (NYSE:THO) Shares Break Below Two Hundred Day Moving Average – Here’s Why

Thor Industries, Inc. (NYSE:THO)’s stock price passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $81.25 and traded as low as $79.95. Thor Industries shares last traded at $80.8030, with a volume of 747,774 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. 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. Wall Street Zen downgraded shares of Thor Industries from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Citigroup lowered their price objective on shares of Thor Industries from $76.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. BMO Capital Markets dropped their price objective on shares of Thor Industries from $110.00 to $95.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 15th. Finally, Weiss Ratings upgraded shares of Thor Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Three research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $85.00.

Thor Industries Trading Down 1.9%

The firm has a market cap of $4.18 billion, a P/E ratio of 23.84, a PEG ratio of 1.10 and a beta of 1.53. The company has a 50 day moving average of $71.46 and a 200 day moving average of $81.25. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.85 and a current ratio of 1.77.

Thor Industries (NYSE:THO) last released its quarterly earnings data on Tuesday, September 22nd. The RV manufacturer reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.10). The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.17 billion. Thor Industries had a return on equity of 3.76% and a net margin of 1.85%. The company’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.36 EPS. Analysts predict that Thor Industries, Inc. will post 4.09 EPS for the current fiscal year.

Thor Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Tuesday, October 27th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, October 27th. This is a boost from Thor Industries’s previous quarterly dividend of $0.52. Thor Industries’s dividend payout ratio (DPR) is presently 63.72%.

Hedge Funds Weigh In On Thor Industries

Hedge funds have recently bought and sold shares of the business. ACR Alpine Capital Research LLC lifted its position in shares of Thor Industries by 4.6% in the third quarter. ACR Alpine Capital Research LLC now owns 5,781,882 shares of the RV manufacturer’s stock worth $399,528,000 after buying an additional 254,326 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Thor Industries during the 2nd quarter valued at about $363,258,000. Dimensional Fund Advisors LP increased its holdings 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 acquiring an additional 96,080 shares during the last quarter. Madison Asset Management LLC bought a new position in shares of Thor Industries in the 2nd quarter valued at approximately $66,217,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Thor Industries in the 2nd quarter valued at approximately $65,419,000. 96.71% of the stock is owned by institutional investors and hedge funds.

About Thor Industries

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.