Thor Industries (NYSE:THO) Given New $115.00 Price Target at Truist Financial

Thor Industries (NYSE:THO) had its target price increased by Truist Financial from $86.00 to $115.00 in a report released on Wednesday morning, Marketbeat Ratings reports. Truist Financial currently has a hold rating on the construction company’s stock.

Several other analysts also recently issued reports on THO. KeyCorp raised shares of Thor Industries from an “underweight” rating to a “sector weight” rating in a report on Friday, August 1st. Citigroup reaffirmed a “neutral” rating and issued a $100.00 price target (up previously from $88.00) on shares of Thor Industries in a report on Tuesday, August 12th. Wall Street Zen raised shares of Thor Industries from a “sell” rating to a “hold” rating in a report on Friday, June 6th. Finally, Roth Capital set a $77.00 price target on shares of Thor Industries and gave the company a “neutral” rating in a report on Monday, June 9th. Two research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Thor Industries presently has a consensus rating of “Hold” and a consensus target price of $94.00.

Thor Industries Stock Up 0.5%

Shares of NYSE THO opened at $112.32 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.71 and a debt-to-equity ratio of 0.24. Thor Industries has a 52 week low of $63.15 and a 52 week high of $118.85. The firm has a 50-day moving average price of $98.81 and a 200 day moving average price of $87.23. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 2.23 and a beta of 1.34.

Thor Industries (NYSE:THO) last announced its earnings results on Wednesday, June 4th. The construction company reported $2.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.74. Thor Industries had a net margin of 2.32% and a return on equity of 6.15%. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter in the previous year, the business posted $2.13 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts anticipate that Thor Industries will post 4.64 EPS for the current fiscal year.

Thor Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, July 1st. Thor Industries’s payout ratio is currently 47.96%.

Thor Industries declared that its board has authorized a share repurchase plan on Monday, June 23rd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 8.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Thor Industries

In other news, Director Peter Busch Orthwein acquired 3,000 shares of the business’s stock in a transaction dated Friday, June 20th. The stock was acquired at an average price of $85.40 per share, with a total value of $256,200.00. Following the completion of the transaction, the director directly owned 136,400 shares in the company, valued at approximately $11,648,560. This represents a 2.25% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Thor Industries

Institutional investors have recently modified their holdings of the company. Northern Trust Corp increased its position in Thor Industries by 20.4% during the fourth quarter. Northern Trust Corp now owns 489,864 shares of the construction company’s stock worth $46,885,000 after purchasing an additional 82,961 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its position in Thor Industries by 148.3% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 5,959 shares of the construction company’s stock worth $570,000 after purchasing an additional 3,559 shares during the last quarter. Captrust Financial Advisors increased its position in Thor Industries by 137.1% during the fourth quarter. Captrust Financial Advisors now owns 7,093 shares of the construction company’s stock worth $679,000 after purchasing an additional 4,101 shares during the last quarter. Cetera Investment Advisers increased its position in Thor Industries by 5.0% during the fourth quarter. Cetera Investment Advisers now owns 38,518 shares of the construction company’s stock worth $3,687,000 after purchasing an additional 1,820 shares during the last quarter. Finally, Crestline Management LP acquired a new position in Thor Industries during the fourth quarter worth approximately $883,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

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.