Citigroup Cuts Thor Industries (NYSE:THO) Price Target to $76.00

Key Points

• Citigroup lowered Thor Industries’ price target from $79 to $76 while maintaining a “neutral” rating, implying approximately 7.4% upside from the stock’s prior close.
• Analyst sentiment remains cautious: Thor has a consensus “Hold” rating and an average price target of $90.33, with three Buy ratings and eleven Holds.
• Thor shares traded at $70.76, near their 52-week low of $69.71, while institutional investors and hedge funds own a substantial 96.71% of the company.

Thor Industries (NYSE:THO - Get Free Report) had its price target lowered by investment analysts at Citigroup from $79.00 to $76.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a "neutral" rating on the RV manufacturer's stock. Citigroup's target price points to a potential upside of 7.41% from the stock's previous close.

Several other equities research analysts have also commented on the stock. BMO Capital Markets decreased their price objective on shares of Thor Industries from $110.00 to $95.00 and set an "outperform" rating on the stock in a research report on Tuesday. Truist Financial dropped their target price on shares of Thor Industries from $109.00 to $80.00 and set a "hold" rating for the company in a report on Wednesday, July 8th. Loop Capital upped their price target on shares of Thor Industries from $90.00 to $96.00 and gave the company a "buy" rating in a report on Thursday, June 4th. Argus upgraded shares of Thor Industries to a "hold" rating in a research report on Friday, June 12th. Finally, Weiss Ratings cut shares of Thor Industries from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, June 18th. Three analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, Thor Industries currently has a consensus rating of "Hold" and a consensus target price of $90.33.

Thor Industries Price Performance

THO traded down $0.56 during trading on Wednesday, reaching $70.76. 190,080 shares of the stock were exchanged, compared to its average volume of 687,809. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.71 and a quick ratio of 0.80. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 30.72, a P/E/G ratio of 1.61 and a beta of 1.34. Thor Industries has a 1 year low of $69.71 and a 1 year high of $122.83. The business's 50 day moving average price is $76.49 and its two-hundred day moving average price is $78.02.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in THO. Curio Wealth LLC acquired a new stake in Thor Industries in the fourth quarter valued at $36,000. Allworth Financial LP acquired a new position in Thor Industries during the 2nd quarter worth $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Thor Industries during the 4th quarter worth $51,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Thor Industries in the 2nd quarter worth about $52,000. Finally, Huntington National Bank increased its position in shares of Thor Industries by 36.5% in the 4th quarter. Huntington National Bank now owns 916 shares of the RV manufacturer's stock worth $94,000 after purchasing an additional 245 shares during the last quarter. Institutional investors and hedge funds 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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