THOR Industries (NYSE:THO) Downgraded to “Neutral” Rating by Citigroup

THOR Industries (NYSE:THO) was downgraded by Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, Marketbeat Ratings reports. They presently have a $86.00 target price on the construction company’s stock, down from their previous target price of $94.00. Citigroup’s price target would indicate a potential upside of 7.06% from the stock’s previous close.

A number of other research firms also recently commented 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 report on Thursday, March 6th. StockNews.com raised shares of THOR Industries from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Robert W. Baird decreased their price objective on shares of THOR Industries from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Truist Financial decreased their price objective on shares of THOR Industries from $110.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, March 6th. Finally, Bank of America raised shares of THOR Industries from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $125.00 in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, THOR Industries has an average rating of “Hold” and a consensus target price of $93.00.

THOR Industries Trading Down 1.0 %

Shares of THOR Industries stock opened at $80.33 on Wednesday. THOR Industries has a 52-week low of $75.78 and a 52-week high of $118.85. The company has a quick ratio of 0.78, a current ratio of 1.71 and a debt-to-equity ratio of 0.26. The company’s 50-day simple moving average is $96.39 and its 200-day simple moving average is $102.20. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 1.16 and a beta of 1.74.

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

Hedge Funds Weigh In On THOR Industries

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of THOR Industries by 37.7% in the third quarter. JPMorgan Chase & Co. now owns 1,502,208 shares of the construction company’s stock valued at $165,078,000 after buying an additional 411,466 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in THOR Industries by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 611,890 shares of the construction company’s stock worth $58,564,000 after purchasing an additional 10,455 shares during the last quarter. State Street Corp increased its position in THOR Industries by 2.1% during the third quarter. State Street Corp now owns 1,624,002 shares of the construction company’s stock worth $178,462,000 after purchasing an additional 33,619 shares during the last quarter. Salvus Wealth Management LLC increased its position in THOR Industries by 19.4% during the fourth quarter. Salvus Wealth Management LLC now owns 42,168 shares of the construction company’s stock worth $4,036,000 after purchasing an additional 6,838 shares during the last quarter. Finally, FMR LLC increased its position in THOR Industries by 8.0% during the third quarter. FMR LLC now owns 29,716 shares of the construction company’s stock worth $3,265,000 after purchasing an additional 2,205 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

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.