Bank of America Issues Pessimistic Forecast for Thor Industries (NYSE:THO) Stock Price

Key Points

• Bank of America cut Thor Industries’ price target from $96 to $86 while maintaining a “buy” rating, implying 26.82% potential upside from the stock’s $67.81 price.
• Analyst sentiment is mixed: three analysts rate Thor a “buy” and eleven rate it a “hold,” resulting in an overall “hold” consensus and an average price target of $89.22.
• Thor shares are near their 52-week low of $67.31, while institutional investors own a substantial 96.71% of the company’s outstanding stock.

Thor Industries (NYSE:THO - Get Free Report) had its target price dropped by stock analysts at Bank of America from $96.00 to $86.00 in a research report issued on Monday, Benzinga reports. The firm presently has a "buy" rating on the RV manufacturer's stock. Bank of America's target price points to a potential upside of 26.82% from the company's current price.

THO has been the topic of a number of other reports. Zacks Research upgraded Thor Industries from a "strong sell" rating to a "hold" rating in a research note on Monday, August 24th. 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 report on Tuesday, September 15th. Wall Street Zen lowered Thor Industries from a "hold" rating to a "sell" rating in a report on Saturday. Argus upgraded shares of Thor Industries to a "hold" rating in a research report on Friday, June 12th. Finally, Citigroup lowered their target price on shares of Thor Industries from $79.00 to $76.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 16th. Three equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $89.22.

Thor Industries Stock Performance

Thor Industries stock opened at $67.81 on Monday. Thor Industries has a 1-year low of $67.31 and a 1-year high of $122.83. The company has a current ratio of 1.71, a quick ratio of 0.80 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $3.53 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 1.49 and a beta of 1.34. The firm's 50 day simple moving average is $76.25 and its 200 day simple moving average is $77.43.

Institutional Investors Weigh In On Thor Industries

Several hedge funds have recently added to or reduced their stakes in the company. Triad Investment Management raised 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 stake in Thor Industries by 4.4% in the second quarter. Waverly Advisors LLC now owns 6,431 shares of the RV manufacturer's stock worth $483,000 after buying an additional 271 shares in the last quarter. Nykredit A S purchased a new stake in Thor Industries in the second quarter worth approximately $229,000. Corient Private Wealth LP grew its position in Thor Industries by 32.5% during the second quarter. Corient Private Wealth LP now owns 34,935 shares of the RV manufacturer's stock valued at $2,626,000 after acquiring an additional 8,572 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Thor Industries during the second quarter valued at approximately $248,000. Institutional investors own 96.71% of the company's stock.

About Thor Industries

Thor Industries, Inc is a manufacturer of recreational vehicles (RVs) and related products. The company produces towable RVs, including travel trailers and fifth-wheel trailers, as well as motorized RVs such as Class A, Class B and Class C motorhomes. Its portfolio includes well-known brands such as Airstream, Jayco, Entegra Coach, Keystone, Dutchmen, Tiffin and CrossRoads.

Thor also owns Erwin Hymer Group, a major European recreational-vehicle manufacturer whose brands include HYMER, Dethleffs, Bürstner, LMC, Carado and Sunlight.

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