THOR Industries (NYSE:THO) Shares Gap Down – Should You Sell?

THOR Industries, Inc. (NYSE:THO) gapped down before the market opened on Wednesday . The stock had previously closed at $81.80, but opened at $80.06. THOR Industries shares last traded at $80.69, with a volume of 61,638 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Truist Financial lowered their target price on shares of THOR Industries from $110.00 to $90.00 and set a “hold” rating for the company in a research note on Thursday, March 6th. Citigroup cut THOR Industries from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $94.00 to $86.00 in a research report on Wednesday. Benchmark reissued a “hold” rating on shares of THOR Industries in a research report on Tuesday, December 3rd. BMO Capital Markets lowered their price target on THOR Industries from $120.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Finally, Robert W. Baird cut their price objective on shares of THOR Industries from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $97.67.

THOR Industries Price Performance

The company has a current ratio of 1.71, a quick ratio of 0.78 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average price is $96.97 and its 200 day moving average price is $102.50. The company has a market cap of $4.31 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 1.16 and a beta of 1.74.

THOR Industries (NYSE:THO) last issued its earnings results on Wednesday, March 5th. The construction company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). THOR Industries had a return on equity of 5.97% and a net margin of 2.17%. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the company posted $0.13 earnings per share. The business’s quarterly revenue was down 8.6% on a year-over-year basis. Equities research analysts forecast that THOR Industries, Inc. will post 4.64 earnings per share for the current year.

THOR Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Monday, January 6th. THOR Industries’s payout ratio is currently 53.05%.

Hedge Funds Weigh In On THOR Industries

Hedge funds have recently added to or reduced their stakes in the business. Atala Financial Inc purchased a new stake in THOR Industries in the 4th quarter valued at approximately $27,000. First Horizon Advisors Inc. boosted its stake in shares of THOR Industries by 57.3% during the fourth quarter. First Horizon Advisors Inc. now owns 332 shares of the construction company’s stock valued at $32,000 after acquiring an additional 121 shares during the last quarter. Brooklyn Investment Group purchased a new stake in THOR Industries during the 3rd quarter worth about $38,000. Brown Brothers Harriman & Co. raised its stake in THOR Industries by 369.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 418 shares of the construction company’s stock valued at $40,000 after purchasing an additional 329 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new position in THOR Industries in the 4th quarter valued at about $51,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

THOR Industries Company Profile

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.