New England Asset Management Inc. Takes $367,000 Position in Thor Industries, Inc. (THO)
New England Asset Management Inc. acquired a new position in shares of Thor Industries, Inc. (NYSE:THO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,765 shares of the construction company’s stock, valued at approximately $367,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Private Capital Group LLC increased its stake in Thor Industries by 351.7% during the second quarter. Private Capital Group LLC now owns 1,084 shares of the construction company’s stock valued at $105,000 after acquiring an additional 844 shares during the period. Asset Management One Co. Ltd. bought a new position in Thor Industries during the first quarter valued at about $146,000. Itau Unibanco Holding S.A. increased its stake in Thor Industries by 282.9% during the second quarter. Itau Unibanco Holding S.A. now owns 1,589 shares of the construction company’s stock valued at $155,000 after acquiring an additional 1,174 shares during the period. Point72 Asia Hong Kong Ltd bought a new position in Thor Industries during the first quarter valued at about $170,000. Finally, Cerebellum GP LLC bought a new position in Thor Industries during the second quarter valued at about $173,000. 87.99% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on THO shares. ValuEngine upgraded Thor Industries from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 19th. Zacks Investment Research upgraded Thor Industries from a “sell” rating to a “hold” rating in a research note on Friday, June 8th. Citigroup lowered their price target on Thor Industries from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, June 21st. Northcoast Research reiterated a “buy” rating on shares of Thor Industries in a research note on Friday, August 17th. Finally, Sidoti lowered their price objective on Thor Industries from $148.00 to $144.00 and set a “buy” rating on the stock in a research note on Friday, August 10th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $128.50.
Thor Industries announced that its board has approved a share buyback program on Wednesday, June 20th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the construction company to repurchase up to 4.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Thor Industries Profile
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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