Thor Industries (NYSE:THO) Now Covered by Analysts at Wells Fargo & Company

Key Points

• Wells Fargo initiated coverage of Thor Industries with an Equal Weight rating and an $80 price target, implying about 1% downside from the cited share price.
• Analyst sentiment is broadly neutral: the consensus rating is Hold, with a $84.50 average price target.
• Thor’s latest quarterly results were mixed: EPS of $0.78 missed estimates of $0.88, while revenue of $2.31 billion topped forecasts but fell 8.4% year over year.

Stock analysts at Wells Fargo & Company started coverage on shares of Thor Industries (NYSE:THO - Get Free Report) in a research note issued to investors on Monday, Briefing.com reports. The brokerage set an "equal weight" rating and a $80.00 price target on the RV manufacturer's stock. Wells Fargo & Company's price objective indicates a potential downside of 0.99% from the stock's current price.

A number of other equities research analysts also recently issued reports on the stock. Robert W. Baird lowered their price target on shares of Thor Industries from $90.00 to $80.00 and set a "neutral" rating on the stock in a report on Wednesday, September 23rd. Wall Street Zen cut shares of Thor Industries from a "hold" rating to a "sell" rating in a research note on Saturday, September 19th. Weiss Ratings raised shares of Thor Industries from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday. Truist Financial upped their target price on shares of Thor Industries from $80.00 to $87.00 and gave the stock a "hold" rating in a report on Thursday, October 8th. Finally, Zacks Research upgraded shares of Thor Industries from a "strong sell" rating to a "hold" rating in a research note on Monday, August 24th. Three analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $84.50.

Thor Industries Stock Performance

NYSE:THO opened at $80.80 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.85 and a current ratio of 1.77. Thor Industries has a 52-week low of $62.83 and a 52-week high of $122.83. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 1.10 and a beta of 1.53. The business's fifty day moving average is $71.46 and its 200 day moving average is $81.25.

Thor Industries (NYSE:THO - Get Free Report) last issued its earnings results on Tuesday, September 22nd. The RV manufacturer reported $0.78 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.10). The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.17 billion. Thor Industries had a return on equity of 3.76% and a net margin of 1.85%. The firm's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.36 EPS. Research analysts predict that Thor Industries will post 4.09 EPS for the current year.

Institutional Investors Weigh In On Thor Industries

A number of large investors have recently added to or reduced their stakes in the company. ACR Alpine Capital Research LLC lifted its holdings in shares of Thor Industries by 4.6% in the 3rd quarter. ACR Alpine Capital Research LLC now owns 5,781,882 shares of the RV manufacturer's stock worth $399,528,000 after acquiring an additional 254,326 shares during the last quarter. BlackRock Inc. bought a new position in shares of Thor Industries during the 2nd quarter valued at $363,258,000. Dimensional Fund Advisors LP grew its holdings in shares of Thor Industries by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,146,574 shares of the RV manufacturer's stock valued at $251,375,000 after purchasing an additional 96,080 shares during the last quarter. Madison Asset Management LLC purchased a new position in Thor Industries in the 2nd quarter worth $66,217,000. Finally, Canada Pension Plan Investment Board purchased a new position in Thor Industries in the 2nd quarter worth $65,419,000. Hedge funds and other institutional investors own 96.71% of the company's stock.

Thor Industries Company Profile

Thor Industries is a manufacturer of recreational vehicles (RVs), including towable travel trailers and fifth wheels, as well as motorhomes. Its products serve consumers seeking options for road travel, camping and other forms of leisure recreation.

The company sells RVs through a portfolio of brands that includes Airstream, Jayco, Keystone RV, Tiffin Motorhomes and the European-based Erwin Hymer Group. Its brands offer a range of vehicle styles and configurations for different customers and markets.

Founded in 1980 with the acquisition of Airstream, Thor Industries is headquartered in Elkhart, Indiana.

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