Thor Industries (NYSE:THO) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Thor Industries (NYSE:THO) in a research report report published on Monday, MarketBeat reports. The brokerage issued an equal weight rating and a $80.00 target price on the RV manufacturer’s stock.

A number of other equities research analysts have also issued reports on the company. Citigroup reduced their price target on Thor Industries from $76.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. Wall Street Zen downgraded Thor Industries from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Bank of America cut their target price on shares of Thor Industries from $96.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday, September 21st. Truist Financial raised their target price on shares of Thor Industries from $80.00 to $87.00 and gave the company a “hold” rating in a report on Thursday, October 8th. Finally, Zacks Research upgraded shares of Thor Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. Three research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $84.50.

Thor Industries Stock Performance

Shares of THO stock opened at $78.22 on Monday. The firm has a 50 day moving average of $71.71 and a two-hundred day moving average of $80.70. The stock has a market capitalization of $4.05 billion, a PE ratio of 23.07, a P/E/G ratio of 1.09 and a beta of 1.53. The company has a quick ratio of 0.85, a current ratio of 1.77 and a debt-to-equity ratio of 0.20. Thor Industries has a 52 week low of $62.83 and a 52 week high of $122.83.

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

Thor Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 10th. Stockholders of record on Tuesday, October 27th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, October 27th. This is an increase from Thor Industries’s previous quarterly dividend of $0.52. Thor Industries’s dividend payout ratio (DPR) is presently 63.72%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC increased its position in Thor Industries by 50.9% during the third quarter. Private Advisor Group LLC now owns 5,804 shares of the RV manufacturer’s stock worth $401,000 after buying an additional 1,957 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of Thor Industries in the third quarter valued at approximately $1,429,000. Voya Investment Management LLC boosted its holdings in shares of Thor Industries by 3.8% in the third quarter. Voya Investment Management LLC now owns 5,403 shares of the RV manufacturer’s stock valued at $373,000 after acquiring an additional 198 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Thor Industries by 1.1% in the third quarter. Russell Investments Group Ltd. now owns 85,866 shares of the RV manufacturer’s stock valued at $5,933,000 after acquiring an additional 941 shares during the period. Finally, Jacobi Capital Management LLC purchased a new position in shares of Thor Industries during the third quarter worth approximately $39,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

About Thor Industries

Thor Industries is a manufacturer of recreational vehicles (RVs), including towable travel trailers and fifth wheels, as well as motorhomes. Its products serve consumers seeking options for road travel, camping and other forms of leisure recreation. The company sells RVs through a portfolio of brands that includes Airstream, Jayco, Keystone RV, Tiffin Motorhomes and the European-based Erwin Hymer Group. Its brands offer a range of vehicle styles and configurations for different customers and markets.