Bank of America Begins Coverage on THOR Industries (NYSE:THO)

Bank of America assumed coverage on shares of THOR Industries (NYSE:THO) in a research report report published on Friday morning. The firm issued a neutral rating and a $120.00 target price on the construction company’s stock.

Other research analysts have also issued reports about the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $120.00 target price on shares of THOR Industries in a research report on Thursday, September 19th. Truist Financial raised their price objective on THOR Industries from $95.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Benchmark reiterated a “hold” rating on shares of THOR Industries in a report on Tuesday, December 3rd. DA Davidson reissued a “neutral” rating and set a $95.00 target price on shares of THOR Industries in a research report on Monday, September 30th. Finally, StockNews.com cut shares of THOR Industries from a “hold” rating to a “sell” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $112.33.

THOR Industries Stock Down 0.5 %

THO opened at $104.61 on Friday. THOR Industries has a 12 month low of $88.37 and a 12 month high of $129.31. The business has a 50-day moving average of $108.74 and a two-hundred day moving average of $103.16. 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 stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 26.75 and a beta of 1.67.

THOR Industries (NYSE:THO) last released its earnings results on Tuesday, September 24th. The construction company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.33. THOR Industries had a net margin of 2.17% and a return on equity of 5.97%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the firm earned $1.68 earnings per share. THOR Industries’s revenue was down 7.4% compared to the same quarter last year. On average, research analysts expect that THOR Industries will post 4.67 earnings per share for the current year.

THOR Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a dividend of $0.50 per share. This is an increase from THOR Industries’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Friday, November 1st. THOR Industries’s dividend payout ratio (DPR) is presently 51.15%.

Insider Buying and Selling

In related news, VP Colleen A. Zuhl sold 4,354 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $115.00, for a total transaction of $500,710.00. Following the completion of the sale, the vice president now directly owns 131,905 shares of the company’s stock, valued at approximately $15,169,075. This trade represents a 3.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On THOR Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its stake in shares of THOR Industries by 35.1% in the second quarter. Pacer Advisors Inc. now owns 1,140,363 shares of the construction company’s stock worth $106,567,000 after acquiring an additional 296,583 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in THOR Industries by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,901,024 shares of the construction company’s stock worth $271,097,000 after purchasing an additional 187,019 shares during the last quarter. Natixis Advisors LLC raised its position in shares of THOR Industries by 51.3% in the 3rd quarter. Natixis Advisors LLC now owns 504,922 shares of the construction company’s stock valued at $55,486,000 after purchasing an additional 171,244 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of THOR Industries by 46.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 501,479 shares of the construction company’s stock valued at $55,108,000 after buying an additional 159,022 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of THOR Industries during the third quarter worth approximately $13,229,000. 96.71% of the stock is owned by hedge funds and other institutional investors.

About THOR Industries

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.