Thor Industries (NYSE:THO) Stock Price Expected to Rise, Bank of America Analyst Says

Thor Industries (NYSE:THO) had its target price lifted by equities research analysts at Bank of America from $100.00 to $120.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Bank of America‘s price target points to a potential upside of 8.82% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. Wall Street Zen upgraded Thor Industries from a “sell” rating to a “hold” rating in a report on Friday, June 6th. Zacks Research upgraded Thor Industries from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 3rd. Roth Capital set a $77.00 target price on Thor Industries and gave the company a “neutral” rating in a research note on Monday, June 9th. Citigroup restated a “neutral” rating and issued a $100.00 target price (up previously from $88.00) on shares of Thor Industries in a research note on Tuesday, August 12th. Finally, KeyCorp upgraded Thor Industries from an “underweight” rating to a “sector weight” rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $93.38.

Thor Industries Price Performance

Thor Industries stock opened at $110.28 on Wednesday. The firm has a market capitalization of $5.87 billion, a P/E ratio of 26.45, a PEG ratio of 2.14 and a beta of 1.34. Thor Industries has a 1 year low of $63.15 and a 1 year high of $118.85. The business has a 50-day moving average of $100.26 and a 200-day moving average of $87.48. The company has a current ratio of 1.71, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24.

Thor Industries declared that its board has authorized a share repurchase program on Monday, June 23rd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the construction company to repurchase up to 8.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Thor Industries

In other Thor Industries news, Director Peter Busch Orthwein bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, June 20th. The shares were acquired at an average cost of $85.40 per share, with a total value of $256,200.00. Following the acquisition, the director owned 136,400 shares of the company’s stock, valued at $11,648,560. The trade was a 2.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. grew its holdings in Thor Industries by 2,463.6% in the 2nd quarter. Hantz Financial Services Inc. now owns 282 shares of the construction company’s stock valued at $25,000 after buying an additional 271 shares in the last quarter. Country Trust Bank grew its holdings in Thor Industries by 50.0% in the 2nd quarter. Country Trust Bank now owns 300 shares of the construction company’s stock valued at $27,000 after buying an additional 100 shares in the last quarter. Curio Wealth LLC grew its holdings in Thor Industries by 33,300.0% in the 2nd quarter. Curio Wealth LLC now owns 334 shares of the construction company’s stock valued at $30,000 after buying an additional 333 shares in the last quarter. MAI Capital Management grew its holdings in Thor Industries by 174.8% in the 2nd quarter. MAI Capital Management now owns 371 shares of the construction company’s stock valued at $33,000 after buying an additional 236 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Thor Industries by 86.6% during the 2nd quarter. Signaturefd LLC now owns 446 shares of the construction company’s stock valued at $40,000 after acquiring an additional 207 shares during the period. 96.71% of the stock is owned by institutional investors and hedge funds.

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.