Thor Industries (NYSE:THO – Free Report) had its price objective boosted by Citigroup from $100.00 to $112.00 in a research note published on Friday,Benzinga reports. They currently have a neutral rating on the construction company’s stock.
Several other equities research analysts have also recently commented on the stock. Bank of America boosted their price target on shares of Thor Industries from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. KeyCorp raised shares of Thor Industries from an “underweight” rating to a “sector weight” rating in a research report on Friday, August 1st. Truist Financial boosted their price target on shares of Thor Industries from $86.00 to $115.00 and gave the stock a “hold” rating in a research report on Wednesday, September 3rd. Wall Street Zen raised shares of Thor Industries from a “sell” rating to a “hold” rating in a research report on Friday, June 6th. Finally, Zacks Research raised shares of Thor Industries from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 3rd. Two investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $94.88.
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Thor Industries Trading Down 4.8%
Shares of NYSE:THO opened at $105.02 on Friday. The company’s 50-day moving average price is $100.51 and its two-hundred day moving average price is $87.33. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.71 and a quick ratio of 0.90. Thor Industries has a one year low of $63.15 and a one year high of $118.85. The stock has a market capitalization of $5.59 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 2.10 and a beta of 1.34.
Thor Industries declared that its Board of Directors has initiated a share buyback program on Monday, June 23rd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the construction company to buy up to 8.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
Thor Industries Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Tuesday, July 1st. Thor Industries’s dividend payout ratio is presently 47.96%.
Insider Activity
In other Thor Industries news, Director Peter Busch Orthwein bought 3,000 shares of the firm’s stock in a transaction on Friday, June 20th. The shares were purchased at an average price of $85.40 per share, for a total transaction of $256,200.00. Following the transaction, the director directly owned 136,400 shares in the company, valued at approximately $11,648,560. This trade represents a 2.25% increase 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 insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Thor Industries by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 5,376,681 shares of the construction company’s stock worth $407,606,000 after purchasing an additional 326,584 shares in the last quarter. ACR Alpine Capital Research LLC grew its position in shares of Thor Industries by 22.5% during the 2nd quarter. ACR Alpine Capital Research LLC now owns 4,265,031 shares of the construction company’s stock worth $378,777,000 after purchasing an additional 782,114 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Thor Industries by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,959,547 shares of the construction company’s stock worth $224,364,000 after purchasing an additional 29,012 shares in the last quarter. Timucuan Asset Management Inc. FL grew its position in shares of Thor Industries by 9.2% during the 2nd quarter. Timucuan Asset Management Inc. FL now owns 2,674,398 shares of the construction company’s stock worth $237,513,000 after purchasing an additional 225,997 shares in the last quarter. Finally, Southpoint Capital Advisors LP lifted its holdings in shares of Thor Industries by 106.2% during the 1st quarter. Southpoint Capital Advisors LP now owns 1,250,000 shares of the construction company’s stock worth $94,762,000 after acquiring an additional 643,851 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.
About Thor Industries
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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.
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