Truist Financial Has Lowered Expectations for THOR Industries (NYSE:THO) Stock Price

THOR Industries (NYSE:THO) had its price objective lowered by Truist Financial from $90.00 to $72.00 in a research report released on Monday,Benzinga reports. The brokerage currently has a hold rating on the construction company’s stock.

Several other analysts have also issued reports on THO. DA Davidson cut their price target on shares of THOR Industries from $95.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. StockNews.com upgraded THOR Industries from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Baird R W cut THOR Industries from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Citigroup lowered THOR Industries from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $94.00 to $86.00 in a research note on Wednesday, March 19th. Finally, Robert W. Baird downgraded shares of THOR Industries from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $100.00 to $85.00 in a research note on Friday, April 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $88.29.

THOR Industries Stock Performance

THOR Industries stock opened at $70.37 on Monday. THOR Industries has a 1-year low of $63.16 and a 1-year high of $118.85. The company has a current ratio of 1.71, a quick ratio of 0.78 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $3.74 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 1.16 and a beta of 1.59. The firm’s 50 day simple moving average is $85.97 and its 200 day simple moving average is $98.18.

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

THOR Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 8th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date is Tuesday, April 8th. THOR Industries’s dividend payout ratio (DPR) is presently 53.05%.

Institutional Investors Weigh In On THOR Industries

Several hedge funds have recently added to or reduced their stakes in THO. Wellington Management Group LLP bought a new position in THOR Industries in the 3rd quarter worth about $7,682,000. MML Investors Services LLC lifted its stake in shares of THOR Industries by 10.2% in the third quarter. MML Investors Services LLC now owns 10,556 shares of the construction company’s stock worth $1,160,000 after buying an additional 976 shares in the last quarter. Geode Capital Management LLC increased its position in shares of THOR Industries by 1.4% during the third quarter. Geode Capital Management LLC now owns 911,232 shares of the construction company’s stock valued at $100,161,000 after acquiring an additional 12,758 shares in the last quarter. Anchor Investment Management LLC bought a new stake in shares of THOR Industries during the third quarter valued at approximately $58,000. Finally, Sanctuary Advisors LLC raised its holdings in THOR Industries by 2.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 21,501 shares of the construction company’s stock worth $2,412,000 after acquiring an additional 442 shares during the last quarter. 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.