Brokerages Set THOR Industries, Inc. (NYSE:THO) Target Price at $110.80

THOR Industries, Inc. (NYSE:THO) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $110.80.

Several equities analysts have commented on THO shares. Truist Financial increased 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 raised their price objective on shares of THOR Industries from $119.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, September 26th. DA Davidson reissued a “neutral” rating and set a $95.00 target price on shares of THOR Industries in a report on Monday, September 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $120.00 price target on shares of THOR Industries in a research note on Thursday, September 19th. Finally, Benchmark reissued a “hold” rating on shares of THOR Industries in a research note on Tuesday, October 1st.

THOR Industries Trading Up 0.4 %

Shares of THOR Industries stock opened at $111.60 on Friday. The firm has a market capitalization of $5.93 billion, a PE ratio of 22.64 and a beta of 1.67. The company has a current ratio of 1.69, a quick ratio of 0.82 and a debt-to-equity ratio of 0.27. The firm’s 50 day moving average is $109.15 and its 200 day moving average is $102.55. THOR Industries has a 1 year low of $88.37 and a 1 year high of $129.31.

THOR Industries (NYSE:THO) last posted its earnings results on Tuesday, September 24th. The construction company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.33. THOR Industries had a net margin of 2.64% and a return on equity of 7.02%. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the previous year, the firm posted $1.68 earnings per share. The company’s revenue was down 7.4% on a year-over-year basis. Equities research analysts forecast that THOR Industries will post 4.85 earnings per share for the current fiscal year.

THOR Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.50 dividend. This is a positive change from THOR Industries’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Friday, November 1st. THOR Industries’s dividend payout ratio is currently 40.57%.

Insider Transactions at THOR Industries

In other THOR Industries news, VP Colleen A. Zuhl sold 4,354 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $115.00, for a total transaction of $500,710.00. Following the sale, the vice president now owns 131,905 shares of the company’s stock, valued at approximately $15,169,075. This represents a 3.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tortoise Investment Management LLC grew its stake in THOR Industries by 77.0% during the second quarter. Tortoise Investment Management LLC now owns 285 shares of the construction company’s stock worth $27,000 after purchasing an additional 124 shares during the period. Quarry LP bought a new position in shares of THOR Industries during the 2nd quarter worth approximately $28,000. UMB Bank n.a. grew its position in shares of THOR Industries by 2,050.0% during the 3rd quarter. UMB Bank n.a. now owns 258 shares of the construction company’s stock worth $28,000 after buying an additional 246 shares during the period. Blue Trust Inc. increased 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 acquiring an additional 285 shares in the last quarter. Finally, Van ECK Associates Corp acquired a new position in shares of THOR Industries during the 3rd quarter valued at $32,000. 96.71% of the stock is owned by institutional investors and hedge funds.

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.