THOR Industries (NYSE:THO) Shares Gap Down – Here’s What Happened

THOR Industries, Inc. (NYSE:THO) gapped down prior to trading on Wednesday . The stock had previously closed at $108.49, but opened at $105.06. THOR Industries shares last traded at $105.80, with a volume of 253,208 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. DA Davidson reiterated a “neutral” rating and issued a $95.00 price target on shares of THOR Industries in a research report on Monday, September 30th. Benchmark reiterated a “hold” rating on shares of THOR Industries in a research report on Tuesday. Truist Financial upped their target price on THOR Industries from $95.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Citigroup upped their target price on THOR Industries from $119.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, BMO Capital Markets restated an “outperform” rating and set a $120.00 target price on shares of THOR Industries in a research report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $110.80.

THOR Industries Trading Down 0.9 %

The business has a 50 day moving average of $109.17 and a two-hundred day moving average of $102.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.82 and a current ratio of 1.69. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 21.11 and a beta of 1.67.

THOR Industries (NYSE:THO) last issued its quarterly earnings data on Tuesday, September 24th. The construction company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.35 by $0.33. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.47 billion. THOR Industries had a return on equity of 7.02% and a net margin of 2.64%. The company’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.68 earnings per share. Equities analysts predict that THOR Industries, Inc. will post 4.85 EPS for the current year.

THOR Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.92%. This is a positive change from THOR Industries’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, November 1st. THOR Industries’s dividend payout ratio is 40.57%.

Insider Buying and Selling at THOR Industries

In other news, VP Colleen A. Zuhl sold 4,354 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $115.00, for a total value of $500,710.00. Following the completion of the transaction, the vice president now directly owns 131,905 shares of the company’s stock, valued at $15,169,075. This trade represents a 3.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On THOR Industries

Institutional investors and hedge funds have recently made changes to their positions in the business. UMB Bank n.a. raised its position in THOR Industries by 2,050.0% during the third quarter. UMB Bank n.a. now owns 258 shares of the construction company’s stock valued at $28,000 after purchasing an additional 246 shares in the last quarter. Tortoise Investment Management LLC raised its position in THOR Industries by 77.0% during the second quarter. Tortoise Investment Management LLC now owns 285 shares of the construction company’s stock valued at $27,000 after purchasing an additional 124 shares in the last quarter. Quarry LP purchased a new stake in THOR Industries during the second quarter valued at about $28,000. Van ECK Associates Corp purchased a new stake in THOR Industries during the third quarter valued at about $32,000. Finally, Blue Trust Inc. increased its holdings in shares of THOR Industries by 548.1% in the second quarter. Blue Trust Inc. now owns 337 shares of the construction company’s stock worth $31,000 after buying an additional 285 shares during the period. Hedge funds and other institutional investors 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.