Thor Industries (THO) Upgraded to Hold at Zacks Investment Research
Thor Industries (NYSE:THO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released 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 research analysts have also issued research reports about the company. Sidoti cut their target price on Thor Industries from $148.00 to $144.00 and set a “buy” rating on the stock in a research report on Friday, August 10th. ValuEngine upgraded Thor Industries from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 19th. Citigroup cut their price target on Thor Industries from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, June 21st. Stifel Nicolaus reiterated a “hold” rating and issued a $124.00 price target on shares of Thor Industries in a report on Monday, June 4th. Finally, Northcoast Research reiterated a “buy” rating on shares of Thor Industries in a report on Friday, August 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. Thor Industries currently has a consensus rating of “Buy” and a consensus price target of $128.43.
Thor Industries (NYSE:THO) last announced its earnings results on Thursday, September 20th. The construction company reported $1.67 EPS for the quarter, missing the consensus estimate of $2.03 by ($0.36). Thor Industries had a net margin of 5.16% and a return on equity of 24.97%. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the company earned $2.26 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. equities research analysts expect that Thor Industries will post 9.43 earnings per share for the current fiscal year.
Thor Industries declared that its Board of Directors has initiated a stock repurchase program on Wednesday, June 20th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 4.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
Large investors have recently made changes to their positions in the business. Private Capital Group LLC boosted its holdings in Thor Industries by 351.7% in the second quarter. Private Capital Group LLC now owns 1,084 shares of the construction company’s stock worth $105,000 after acquiring an additional 844 shares in the last quarter. Asset Management One Co. Ltd. bought a new position in Thor Industries in the first quarter worth approximately $146,000. Itau Unibanco Holding S.A. boosted its holdings in Thor Industries by 282.9% in the second quarter. Itau Unibanco Holding S.A. now owns 1,589 shares of the construction company’s stock worth $155,000 after acquiring an additional 1,174 shares in the last quarter. Point72 Asia Hong Kong Ltd bought a new position in Thor Industries in the first quarter worth approximately $170,000. Finally, Cerebellum GP LLC bought a new position in Thor Industries in the second quarter worth approximately $173,000. Institutional investors and hedge funds own 87.94% of the company’s stock.
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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