Zacks Investment Research Upgrades Thor Industries (THO) to Hold

Thor Industries (NYSE:THO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Saturday.

According to Zacks, “Thor Industries manufactures a wide range of recreational vehicles (RVs) at various manufacturing facilities located in Indiana and Ohio and sold through independent dealers in the U.S. and Canada. “

Other equities analysts have also recently issued research reports about the company. Northcoast Research reaffirmed a “buy” rating on shares of Thor Industries in a report on Friday, August 17th. Sidoti lowered their target price on Thor Industries from $148.00 to $144.00 and set a “buy” rating for the company in a report on Friday, August 10th. Citigroup lowered their target price on Thor Industries from $150.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, June 21st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $124.00 target price on shares of Thor Industries in a report on Monday, June 4th. Finally, ValuEngine raised Thor Industries from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $128.43.

Thor Industries stock opened at $89.04 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.71 and a debt-to-equity ratio of 0.04. Thor Industries has a 52 week low of $87.62 and a 52 week high of $161.48. The firm has a market cap of $4.69 billion, a PE ratio of 10.41 and a beta of 1.29.

Thor Industries (NYSE:THO) last posted its quarterly earnings results on Thursday, September 20th. The construction company reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.36). Thor Industries had a return on equity of 24.97% and a net margin of 5.16%. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the firm posted $2.26 EPS. Thor Industries’s quarterly revenue was down 3.2% on a year-over-year basis. research analysts forecast that Thor Industries will post 9.43 EPS for the current year.

Thor Industries declared that its Board of Directors has initiated a share repurchase program on Wednesday, June 20th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional investors and hedge funds have recently modified their holdings of the business. Private Capital Group LLC grew its position in shares of Thor Industries by 351.7% in the 2nd quarter. Private Capital Group LLC now owns 1,084 shares of the construction company’s stock valued at $105,000 after buying an additional 844 shares during the last quarter. Asset Management One Co. Ltd. bought a new stake in shares of Thor Industries in the 1st quarter valued at about $146,000. Itau Unibanco Holding S.A. grew its position in shares of Thor Industries by 282.9% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 1,589 shares of the construction company’s stock valued at $155,000 after buying an additional 1,174 shares during the last quarter. Point72 Asia Hong Kong Ltd bought a new stake in shares of Thor Industries in the 1st quarter valued at about $170,000. Finally, Cerebellum GP LLC bought a new stake in shares of Thor Industries in the 2nd quarter valued at about $173,000. 87.94% of the stock is owned by institutional investors and hedge funds.

About Thor Industries

Thor Industries, Inc, through its subsidiaries, designs, manufactures, and sells recreational vehicles, and related parts and accessories primarily in the United States and Canada. It operates through Towable Recreational Vehicles and Motorized Recreational Vehicles segments. The company offers travel trailers under the Airstream Classic, International, Tommy Bahama, Flying Cloud, Sport, and Basecamp trade names, as well as Interstate series of Class B motorhomes; gasoline and diesel Class A and Class C motorhomes under the Four Winds, Hurricane, Chateau, Windsport, Axis, Vegas, Tuscany, Palazzo, Aria, Quantum, Compass, Gemini, A.C.E., Alante, Precept, Greyhawk, and Redhawk trade names; and luxury Class A motorhomes under Insignia, Aspire, Anthem, and Cornerstone trade names.

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