KeyCorp Cuts THOR Industries (NYSE:THO) Price Target to $60.00

THOR Industries (NYSE:THO) had its price target trimmed by KeyCorp from $65.00 to $60.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has an underweight rating on the construction company’s stock.

Several other equities analysts have also weighed in on the company. Citigroup lowered THOR Industries from a “buy” rating to a “neutral” rating and cut their price target for the company from $94.00 to $86.00 in a research note on Wednesday, March 19th. BMO Capital Markets reduced their target price on THOR Industries from $120.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Bank of America raised shares of THOR Industries from a “neutral” rating to a “buy” rating and lifted their price target for the company from $110.00 to $125.00 in a research note on Monday, March 3rd. DA Davidson raised shares of THOR Industries to a “hold” rating in a report on Monday, April 14th. Finally, Baird R W lowered shares of THOR Industries from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, THOR Industries has an average rating of “Hold” and an average target price of $87.57.

THOR Industries Stock Up 1.5 %

Shares of THO opened at $69.06 on Thursday. The stock’s 50-day moving average price is $83.38 and its 200-day moving average price is $97.11. The company has a quick ratio of 0.78, a current ratio of 1.71 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.16 and a beta of 1.59. THOR Industries has a 52 week low of $63.16 and a 52 week high of $118.85.

THOR Industries (NYSE:THO) last issued its quarterly earnings data on Wednesday, March 5th. The construction company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). THOR Industries had a return on equity of 5.97% and a net margin of 2.17%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the business earned $0.13 EPS. THOR Industries’s revenue for the quarter was down 8.6% compared to the same quarter last year. On average, sell-side analysts predict that THOR Industries will post 4.64 EPS for the current year.

THOR Industries Announces Dividend

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

Hedge Funds Weigh In On THOR Industries

Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in shares of THOR Industries by 37.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,502,208 shares of the construction company’s stock worth $165,078,000 after acquiring an additional 411,466 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of THOR Industries by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 611,890 shares of the construction company’s stock valued at $58,564,000 after acquiring an additional 10,455 shares during the last quarter. Amundi grew its holdings in shares of THOR Industries by 26.2% in the fourth quarter. Amundi now owns 4,354 shares of the construction company’s stock valued at $415,000 after purchasing an additional 905 shares during the period. Salvus Wealth Management LLC increased its position in THOR Industries by 19.4% during the fourth quarter. Salvus Wealth Management LLC now owns 42,168 shares of the construction company’s stock worth $4,036,000 after purchasing an additional 6,838 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake 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. Hedge funds and other institutional investors own 96.71% of the company’s stock.

THOR Industries Company Profile

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.