THOR Industries (NYSE:THO) Sets New 12-Month Low – Here’s Why

Shares of THOR Industries, Inc. (NYSE:THO) reached a new 52-week low on Tuesday . The stock traded as low as $78.78 and last traded at $79.05, with a volume of 330306 shares traded. The stock had previously closed at $82.13.

Analysts Set New Price Targets

Several brokerages recently commented on THO. BMO Capital Markets cut their target price on THOR Industries from $120.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. StockNews.com raised shares of THOR Industries from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Truist Financial dropped their target price on shares of THOR Industries from $110.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, March 6th. Robert W. Baird decreased their price target on shares of THOR Industries from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Finally, DA Davidson cut their price objective on shares of THOR Industries from $95.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.00.

THOR Industries Price Performance

The stock has a market capitalization of $4.21 billion, a P/E ratio of 20.22, a price-to-earnings-growth ratio of 1.16 and a beta of 1.74. The business has a fifty day simple moving average of $98.88 and a 200 day simple moving average of $103.68. The company has a current ratio of 1.71, a quick ratio of 0.78 and a debt-to-equity ratio of 0.26.

THOR Industries (NYSE:THO) last announced its quarterly earnings data 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). The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.98 billion. THOR Industries had a net margin of 2.17% and a return on equity of 5.97%. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 EPS. On average, analysts expect that THOR Industries, Inc. will post 4.64 earnings per share for the current year.

THOR Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Monday, January 6th were given a dividend of $0.50 per share. The ex-dividend date was Monday, January 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.53%. THOR Industries’s dividend payout ratio is presently 53.05%.

Hedge Funds Weigh In On THOR Industries

A number of large investors have recently made changes to their positions in the stock. Van ECK Associates Corp bought a new stake in THOR Industries during the third quarter valued at $32,000. Atria Investments Inc raised its holdings in shares of THOR Industries by 1.9% in the 3rd quarter. Atria Investments Inc now owns 87,071 shares of the construction company’s stock valued at $9,568,000 after acquiring an additional 1,625 shares in the last quarter. Covestor Ltd boosted its position in shares of THOR Industries by 586.2% during the 3rd quarter. Covestor Ltd now owns 947 shares of the construction company’s stock valued at $104,000 after acquiring an additional 809 shares during the last quarter. Axxcess Wealth Management LLC purchased a new position in shares of THOR Industries during the third quarter worth about $220,000. Finally, Crossmark Global Holdings Inc. increased its position in shares of THOR Industries by 7.6% in the third quarter. Crossmark Global Holdings Inc. now owns 3,419 shares of the construction company’s stock worth $375,000 after purchasing an additional 242 shares during the last quarter. 96.71% of the stock is owned by 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.