THOR Industries (NYSE:THO) Cut to “Neutral” at Robert W. Baird

Robert W. Baird lowered shares of THOR Industries (NYSE:THO) from an outperform rating to a neutral rating in a research note released on Friday, Marketbeat reports. They currently have $85.00 price objective on the construction company’s stock, down from their prior price objective of $100.00.

A number of other research analysts have also recently issued reports on THO. BMO Capital Markets decreased their price objective on shares of THOR Industries from $120.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. KeyCorp reiterated an “underweight” rating and issued a $65.00 price target on shares of THOR Industries in a research note on Thursday, March 20th. Truist Financial reduced their price objective on THOR Industries from $110.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, March 6th. DA Davidson decreased their target price on THOR Industries from $95.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Finally, Citigroup cut shares of THOR Industries from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $94.00 to $86.00 in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, THOR Industries has a consensus rating of “Hold” and a consensus price target of $90.86.

THOR Industries Price Performance

Shares of NYSE THO opened at $71.33 on Friday. The stock has a market capitalization of $3.80 billion, a PE ratio of 18.24, a P/E/G ratio of 1.16 and a beta of 1.59. THOR Industries has a fifty-two week low of $66.00 and a fifty-two week high of $118.85. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.71 and a quick ratio of 0.78. The business has a fifty day moving average price of $91.38 and a two-hundred day moving average price of $100.26.

THOR Industries (NYSE:THO) last posted its quarterly earnings results on Wednesday, March 5th. The construction company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.98 billion. THOR Industries had a net margin of 2.17% and a return on equity of 5.97%. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period last year, the firm earned $0.13 EPS. As a group, equities analysts predict that THOR Industries will post 4.64 earnings per share for the current fiscal year.

THOR Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 8th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Tuesday, April 8th. THOR Industries’s dividend payout ratio (DPR) is currently 53.05%.

Institutional Investors Weigh In On THOR Industries

A number of institutional investors have recently added to or reduced their stakes in the business. Atala Financial Inc acquired a new position in shares of THOR Industries during the fourth quarter worth $27,000. First Horizon Advisors Inc. lifted its holdings in THOR Industries by 57.3% during the 4th quarter. First Horizon Advisors Inc. now owns 332 shares of the construction company’s stock worth $32,000 after buying an additional 121 shares during the period. Brown Brothers Harriman & Co. lifted its holdings in THOR Industries by 369.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 418 shares of the construction company’s stock worth $40,000 after buying an additional 329 shares during the period. Stonebridge Financial Group LLC bought a new stake in shares of THOR Industries in the 4th quarter valued at about $51,000. Finally, Tortoise Investment Management LLC increased its stake in shares of THOR Industries by 78.3% in the fourth quarter. Tortoise Investment Management LLC now owns 576 shares of the construction company’s stock valued at $55,000 after buying an additional 253 shares during the period. 96.71% of the stock is owned by institutional investors.

THOR Industries Company Profile

THOR Industries, Inc designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories in the United States, Canada, and Europe. The company offers travel trailers; gasoline and diesel Class A, Class B, and Class C motorhomes; conventional travel trailers and fifth wheels; luxury fifth wheels; and motorcaravans, caravans, campervans, and urban vehicles.