Thor Industries (NYSE:THO) Hits New 52-Week Low – What’s Next?

Thor Industries, Inc. (NYSE:THO)’s stock price hit a new 52-week low during mid-day trading on Monday. The company traded as low as $67.09 and last traded at $66.5680, with a volume of 62809 shares changing hands. The stock had previously closed at $69.55.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on THO shares. Truist Financial dropped their price objective on Thor Industries from $109.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, July 8th. Bank of America reduced their target price on Thor Industries from $96.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday, September 21st. Argus upgraded Thor Industries to a “hold” rating in a report on Friday, June 12th. BMO Capital Markets dropped their price target on Thor Industries from $110.00 to $95.00 and set an “outperform” rating for the company in a research note on Tuesday, September 15th. Finally, Robert W. Baird cut their price target on shares of Thor Industries from $90.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, September 23rd. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $84.89.

Thor Industries Stock Up 0.7%

The company’s fifty day simple moving average is $74.92 and its 200 day simple moving average is $76.19. The company has a quick ratio of 0.85, a current ratio of 1.77 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $3.49 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 0.91 and a beta of 1.43.

Thor Industries (NYSE:THO) last posted its earnings results on Tuesday, September 22nd. The RV manufacturer reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.10). Thor Industries had a return on equity of 3.76% and a net margin of 1.85%.The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter last year, the company posted $2.36 EPS. The firm’s revenue was down 8.4% on a year-over-year basis. Analysts anticipate that Thor Industries, Inc. will post 4.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Thor Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in THO. Versant Capital Management Inc raised its holdings in Thor Industries by 865.7% in the third quarter. Versant Capital Management Inc now owns 985 shares of the RV manufacturer’s stock worth $68,000 after purchasing an additional 883 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Thor Industries by 32.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,310 shares of the RV manufacturer’s stock valued at $850,000 after buying an additional 2,795 shares in the last quarter. Triad Investment Management boosted its holdings in shares of Thor Industries by 10.9% during the 2nd quarter. Triad Investment Management now owns 51,900 shares of the RV manufacturer’s stock valued at $3,901,000 after buying an additional 5,088 shares in the last quarter. Waverly Advisors LLC boosted its holdings in shares of Thor Industries by 4.4% during the 2nd quarter. Waverly Advisors LLC now owns 6,431 shares of the RV manufacturer’s stock valued at $483,000 after buying an additional 271 shares in the last quarter. Finally, Nykredit A S purchased a new stake in shares of Thor Industries in the 2nd quarter worth about $229,000. 96.71% of the stock is owned by hedge funds and other institutional investors.

About Thor Industries

Thor Industries, Inc is a recreational vehicle (RV) manufacturer headquartered in Elkhart, Indiana. The company designs, manufactures, and sells towable and motorized RVs, including travel trailers, fifth wheels, conventional motorhomes, and touring coaches. Its products are marketed for vacation travel, camping, and other forms of recreational use.

Thor’s North American portfolio includes well-known brands such as Airstream, Jayco, Keystone, Dutchmen, and CrossRoads. Airstream produces premium travel trailers and touring coaches, while the company’s other brands serve a broad range of customers and price points across the RV market.

Thor also operates internationally through the Erwin Hymer Group, a major European recreational vehicle platform.