THOR Industries (NYSE:THO) Price Target Lowered to $72.00 at Truist Financial

THOR Industries (NYSE:THO) had its price target trimmed by Truist Financial from $90.00 to $72.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a hold rating on the construction company’s stock.

A number of other analysts have also commented on THO. Robert W. Baird lowered THOR Industries from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $100.00 to $85.00 in a research report on Friday, April 4th. KeyCorp reissued an “underweight” rating and issued a $65.00 price target on shares of THOR Industries in a research report on Thursday, March 20th. Baird R W downgraded shares of THOR Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. StockNews.com raised shares of THOR Industries from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Finally, BMO Capital Markets dropped their price target on shares of THOR Industries from $120.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $88.29.

THOR Industries Stock Performance

Shares of THOR Industries stock opened at $70.37 on Monday. The business has a 50-day moving average price of $85.97 and a two-hundred day moving average price of $98.18. THOR Industries has a 1-year low of $63.16 and a 1-year high of $118.85. The company has a current ratio of 1.71, a quick ratio of 0.78 and a debt-to-equity ratio of 0.26. The company has a market cap of $3.74 billion, a P/E ratio of 18.00, a PEG ratio of 1.16 and a beta of 1.59.

THOR Industries (NYSE:THO) last issued its earnings results on Wednesday, March 5th. The construction company reported ($0.01) earnings per share 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 return on equity of 5.97% and a net margin of 2.17%. The company’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.13 earnings per share. As a group, analysts anticipate that THOR Industries will post 4.64 EPS for the current year.

THOR Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 8th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, April 8th. This represents a $2.00 annualized dividend and a yield of 2.84%. THOR Industries’s payout ratio is currently 53.05%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in THO. Wellington Management Group LLP purchased a new stake in THOR Industries in the third quarter worth $7,682,000. MML Investors Services LLC lifted its holdings in THOR Industries by 10.2% during the third quarter. MML Investors Services LLC now owns 10,556 shares of the construction company’s stock valued at $1,160,000 after purchasing an additional 976 shares during the last quarter. Geode Capital Management LLC boosted its position in THOR Industries by 1.4% during the third quarter. Geode Capital Management LLC now owns 911,232 shares of the construction company’s stock worth $100,161,000 after purchasing an additional 12,758 shares during the period. Anchor Investment Management LLC purchased a new position in shares of THOR Industries in the third quarter worth about $58,000. Finally, Sanctuary Advisors LLC raised its position in shares of THOR Industries by 2.1% in the third quarter. Sanctuary Advisors LLC now owns 21,501 shares of the construction company’s stock valued at $2,412,000 after purchasing an additional 442 shares during the period. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

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.