Thor Industries (NYSE:THO) Price Target Cut to $95.00 by Analysts at BMO Capital Markets

Key Points

• BMO Capital Markets lowered Thor Industries’ price target from $110 to $95 while maintaining an “outperform” rating, implying roughly 29% upside from the stock’s prior close.
• Analyst sentiment is mixed: Thor has an overall “Hold” consensus, with three Buy ratings and eleven Hold ratings, and an average price target of $90.67.
• Thor shares opened at $73.62, near the lower end of their 52-week range, while institutional investors own a substantial 96.71% of the company’s stock.

Thor Industries (NYSE:THO - Get Free Report) had its target price cut by BMO Capital Markets from $110.00 to $95.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an "outperform" rating on the RV manufacturer's stock. BMO Capital Markets' price target would indicate a potential upside of 29.03% from the stock's previous close.

A number of other equities research analysts have also recently weighed in on the company. Citigroup cut their price target on Thor Industries from $80.00 to $79.00 and set a "neutral" rating on the stock in a report on Friday, July 24th. DA Davidson decreased their price objective on Thor Industries from $100.00 to $80.00 and set a "neutral" rating for the company in a report on Monday, June 15th. Roth Capital set a $78.00 target price on Thor Industries in a research report on Thursday, June 4th. Weiss Ratings downgraded Thor Industries from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, June 18th. Finally, Bank of America reduced their price target on Thor Industries from $120.00 to $96.00 and set a "buy" rating for the company in a research report on Thursday, June 4th. Three equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Thor Industries currently has an average rating of "Hold" and a consensus price target of $90.67.

Thor Industries Stock Performance

Shares of NYSE THO opened at $73.62 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.71 and a debt-to-equity ratio of 0.20. The firm's 50-day moving average price is $76.58 and its two-hundred day moving average price is $78.25. Thor Industries has a 52-week low of $69.71 and a 52-week high of $122.83. The stock has a market capitalization of $3.83 billion, a P/E ratio of 31.87, a P/E/G ratio of 1.60 and a beta of 1.34.

Hedge Funds Weigh In On Thor Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Triad Investment Management grew its holdings in Thor Industries by 10.9% during the second quarter. Triad Investment Management now owns 51,900 shares of the RV manufacturer's stock worth $3,901,000 after acquiring an additional 5,088 shares during the period. Waverly Advisors LLC lifted its holdings in Thor Industries by 4.4% in the 2nd quarter. Waverly Advisors LLC now owns 6,431 shares of the RV manufacturer's stock valued at $483,000 after acquiring an additional 271 shares during the last quarter. Nykredit A S acquired a new stake in Thor Industries in the 2nd quarter valued at about $229,000. Corient Private Wealth LP boosted its position in shares of Thor Industries by 32.5% during the 2nd quarter. Corient Private Wealth LP now owns 34,935 shares of the RV manufacturer's stock valued at $2,626,000 after purchasing an additional 8,572 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Thor Industries during the 2nd quarter valued at about $248,000. 96.71% of the stock is owned by institutional investors.

Thor Industries Company Profile

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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