Thor Industries (NYSE:THO) Shares Gap Down After Earnings Miss

Thor Industries, Inc. (NYSE:THO) shares gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $77.54, but opened at $70.30. Thor Industries shares last traded at $76.41, with a volume of 133,043 shares.

The RV manufacturer reported $1.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.02). The company had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Thor Industries had a net margin of 3.02% and a return on equity of 6.96%. Thor Industries’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.53 EPS.

Thor Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 20th. Investors of record on Monday, April 6th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, April 6th. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. Thor Industries’s dividend payout ratio is presently 64.60%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on THO. Truist Financial reduced their price target on Thor Industries from $112.00 to $109.00 and set a “hold” rating on the stock in a research report on Wednesday, March 11th. Citigroup reduced their target price on Thor Industries from $100.00 to $82.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. Wall Street Zen cut Thor Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. BMO Capital Markets dropped their target price on shares of Thor Industries from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, April 17th. Finally, Benchmark reiterated a “hold” rating on shares of Thor Industries in a research note on Wednesday, March 4th. Three research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $108.11.

Insider Buying and Selling at Thor Industries

In related news, Director Peter Busch Orthwein acquired 2,600 shares of Thor Industries stock in a transaction on Friday, March 6th. The stock was acquired at an average price of $88.25 per share, for a total transaction of $229,450.00. Following the purchase, the director owned 139,000 shares of the company’s stock, valued at approximately $12,266,750. This represents a 1.91% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.70% of the company’s stock.

Institutional Trading of Thor Industries

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Choreo LLC boosted its holdings in Thor Industries by 9.9% during the fourth quarter. Choreo LLC now owns 394,513 shares of the RV manufacturer’s stock worth $41,128,000 after buying an additional 35,655 shares in the last quarter. WINTON GROUP Ltd lifted its stake in Thor Industries by 115.9% in the 3rd quarter. WINTON GROUP Ltd now owns 57,262 shares of the RV manufacturer’s stock valued at $5,937,000 after buying an additional 30,740 shares in the last quarter. Triad Investment Management purchased a new stake in Thor Industries during the 4th quarter worth approximately $4,276,000. Natixis Advisors LLC increased its stake in Thor Industries by 5.4% during the 3rd quarter. Natixis Advisors LLC now owns 686,278 shares of the RV manufacturer’s stock worth $71,160,000 after buying an additional 35,294 shares in the last quarter. Finally, Mirabella Financial Services LLP raised its holdings in shares of Thor Industries by 65.1% during the third quarter. Mirabella Financial Services LLP now owns 30,340 shares of the RV manufacturer’s stock valued at $3,140,000 after acquiring an additional 11,965 shares during the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

Thor Industries Stock Down 1.5%

The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 1.55 and a beta of 1.32. The business has a fifty day simple moving average of $77.89 and a 200 day simple moving average of $95.25. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.76 and a quick ratio of 0.73.

Thor Industries Company Profile

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.