Bank of America Initiates Coverage on THOR Industries (NYSE:THO)

Stock analysts at Bank of America began coverage on shares of THOR Industries (NYSE:THO) in a note issued to investors on Friday. The firm set a “neutral” rating and a $120.00 price target on the construction company’s stock. Bank of America‘s target price would indicate a potential upside of 14.17% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the company. StockNews.com cut THOR Industries from a “hold” rating to a “sell” rating in a report on Friday, December 6th. Citigroup boosted their price target on THOR Industries from $119.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. DA Davidson reissued a “neutral” rating and set a $95.00 price target on shares of THOR Industries in a report on Monday, September 30th. Truist Financial boosted their target price on THOR Industries from $95.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $120.00 price objective on shares of THOR Industries in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $112.33.

THOR Industries Trading Down 0.8 %

NYSE:THO opened at $105.11 on Friday. The firm has a market capitalization of $5.59 billion, a P/E ratio of 26.88 and a beta of 1.67. The business has a 50 day simple moving average of $108.82 and a 200 day simple moving average of $102.97. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.71 and a quick ratio of 0.78. THOR Industries has a 12-month low of $88.37 and a 12-month high of $129.31.

THOR Industries (NYSE:THO) last released its quarterly earnings results 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 business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.47 billion. THOR Industries had a net margin of 2.17% and a return on equity of 5.97%. The company’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.68 earnings per share. Equities research analysts predict that THOR Industries will post 4.71 EPS for the current year.

Insider Activity

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

Institutional Trading of THOR Industries

A number of hedge funds have recently made changes to their positions in THO. SG Americas Securities LLC purchased a new stake in shares of THOR Industries during the second quarter worth $496,000. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of THOR Industries by 20.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 8,101 shares of the construction company’s stock valued at $757,000 after buying an additional 1,354 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of THOR Industries by 28.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 21,205 shares of the construction company’s stock valued at $1,982,000 after buying an additional 4,737 shares in the last quarter. Blue Trust Inc. grew its stake in shares of THOR Industries by 548.1% in the 2nd quarter. Blue Trust Inc. now owns 337 shares of the construction company’s stock valued at $31,000 after buying an additional 285 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in THOR Industries by 4.1% in the second quarter. Raymond James & Associates now owns 331,524 shares of the construction company’s stock worth $30,981,000 after buying an additional 12,958 shares during the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

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.