Summit Investment Advisors Inc. Lowers Stake in THOR Industries, Inc. (NYSE:THO)

Summit Investment Advisors Inc. trimmed its holdings in THOR Industries, Inc. (NYSE:THO) by 2.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 10,636 shares of the construction company’s stock after selling 278 shares during the period. Summit Investment Advisors Inc.’s holdings in THOR Industries were worth $1,018,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Atala Financial Inc purchased a new stake in THOR Industries during the 4th quarter valued at approximately $27,000. First Horizon Advisors Inc. raised 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 worth $32,000 after purchasing an additional 121 shares during the last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of THOR Industries by 369.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 418 shares of the construction company’s stock worth $40,000 after purchasing an additional 329 shares during the period. Stonebridge Financial Group LLC purchased a new position in THOR Industries in the 4th quarter valued at $51,000. Finally, Tortoise Investment Management LLC increased its stake in THOR Industries by 78.3% in the 4th quarter. Tortoise Investment Management LLC now owns 576 shares of the construction company’s stock valued at $55,000 after buying an additional 253 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

Wall Street Analyst Weigh In

THO has been the topic of several analyst reports. Robert W. Baird downgraded shares of THOR Industries from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $100.00 to $85.00 in a report on Friday, April 4th. BMO Capital Markets dropped 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. Bank of America raised THOR Industries from a “neutral” rating to a “buy” rating and increased their target price for the stock from $110.00 to $125.00 in a research note on Monday, March 3rd. Citigroup lowered THOR Industries from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $94.00 to $86.00 in a report on Wednesday, March 19th. Finally, DA Davidson raised THOR Industries to a “hold” rating in a report on Monday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, THOR Industries has a consensus rating of “Hold” and a consensus target price of $87.57.

THOR Industries Price Performance

THOR Industries stock opened at $69.06 on Friday. The firm has a market capitalization of $3.67 billion, a PE ratio of 17.66, a P/E/G ratio of 1.16 and a beta of 1.59. THOR Industries, Inc. has a 52 week low of $63.16 and a 52 week high of $118.85. The firm’s 50-day simple moving average is $84.06 and its 200 day simple moving average is $97.48. The company has a quick ratio of 0.78, a current ratio of 1.71 and a debt-to-equity ratio of 0.26.

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

THOR Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 8th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $2.00 annualized dividend and a dividend yield of 2.90%. THOR Industries’s dividend payout ratio is currently 53.05%.

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.