Thor Industries (THO) Downgraded by Zacks Investment Research

Share on StockTwits

Thor Industries (NYSE:THO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

According to Zacks, “Thor Industries manufactures a wide range of recreational vehicles (RVs) at various manufacturing facilities located in Indiana and Ohio and sold through independent dealers in the U.S. and Canada. “

THO has been the topic of a number of other reports. Northcoast Research restated a “buy” rating on shares of Thor Industries in a report on Friday, August 17th. Sidoti lowered their target price on shares of Thor Industries from $148.00 to $144.00 and set a “buy” rating on the stock in a report on Friday, August 10th. Citigroup lowered their target price on shares of Thor Industries from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, June 21st. Stifel Nicolaus set a $124.00 target price on shares of Thor Industries and gave the stock a “hold” rating in a report on Monday, May 7th. Finally, ValuEngine downgraded shares of Thor Industries from a “hold” rating to a “sell” rating in a report on Saturday, May 12th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $128.50.

NYSE THO opened at $94.76 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.96 and a current ratio of 1.67. Thor Industries has a 12-month low of $87.62 and a 12-month high of $161.48. The company has a market capitalization of $5.11 billion, a PE ratio of 13.37 and a beta of 1.32.

Thor Industries (NYSE:THO) last posted its quarterly earnings data on Wednesday, June 6th. The construction company reported $2.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.65 by ($0.12). Thor Industries had a net margin of 5.50% and a return on equity of 28.10%. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.21 billion. analysts predict that Thor Industries will post 8.61 EPS for the current fiscal year.

Thor Industries declared that its board has approved a share buyback program on Wednesday, June 20th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 4.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

A number of hedge funds have recently added to or reduced their stakes in the business. HM Payson & Co. boosted its position in Thor Industries by 15.3% during the second quarter. HM Payson & Co. now owns 137,998 shares of the construction company’s stock worth $13,439,000 after purchasing an additional 18,331 shares during the period. Schroder Investment Management Group boosted its position in Thor Industries by 623.6% during the second quarter. Schroder Investment Management Group now owns 390,000 shares of the construction company’s stock worth $37,853,000 after purchasing an additional 336,100 shares during the period. Hellman Jordan Management Co. Inc. MA bought a new position in Thor Industries during the second quarter worth $14,706,000. Delphi Management Inc. MA boosted its position in Thor Industries by 11.4% during the second quarter. Delphi Management Inc. MA now owns 20,270 shares of the construction company’s stock worth $1,923,000 after purchasing an additional 2,080 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in Thor Industries by 175.2% during the second quarter. Advisors Asset Management Inc. now owns 61,667 shares of the construction company’s stock worth $1,925,000 after purchasing an additional 39,258 shares during the period. 88.05% of the stock is owned by hedge funds and other institutional investors.

About Thor Industries

Thor Industries, Inc, through its subsidiaries, designs, manufactures, and sells recreational vehicles, and related parts and accessories primarily in the United States and Canada. It operates through Towable Recreational Vehicles and Motorized Recreational Vehicles segments. The company offers travel trailers under the Airstream Classic, International, Tommy Bahama, Flying Cloud, Sport, and Basecamp trade names, as well as Interstate series of Class B motorhomes; gasoline and diesel Class A and Class C motorhomes under the Four Winds, Hurricane, Chateau, Windsport, Axis, Vegas, Tuscany, Palazzo, Aria, Quantum, Compass, Gemini, A.C.E., Alante, Precept, Greyhawk, and Redhawk trade names; and luxury Class A motorhomes under Insignia, Aspire, Anthem, and Cornerstone trade names.

Further Reading: Fundamental Analysis and Choosing Stocks

Get a free copy of the Zacks research report on Thor Industries (THO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Thor Industries (NYSE:THO)

Receive News & Ratings for Thor Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thor Industries and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply