Thor Industries (NYSE:THO) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Wall Street Zen upgraded Thor Industries from “sell” to “hold,” while the broader analyst consensus remains “hold,” with three buys and eleven holds and an average price target of $92.33.
• Thor Industries shares opened at $76.93, up 1.5%, with a market capitalization of approximately $4.0 billion and a 12-month trading range of $69.71 to $122.83.
• The company reported quarterly revenue of $2.78 billion, exceeding estimates, but earnings per share of $1.86 narrowly missed expectations and declined from $2.53 a year earlier; revenue fell 3.9% year over year.

Thor Industries (NYSE:THO - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

Other analysts have also recently issued reports about the company. Bank of America cut their price objective on Thor Industries from $120.00 to $96.00 and set a "buy" rating on the stock in a research report on Thursday, June 4th. BMO Capital Markets reduced their price target on Thor Industries from $120.00 to $110.00 and set an "outperform" rating on the stock in a research note on Thursday, June 4th. Weiss Ratings downgraded shares of Thor Industries from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, June 18th. Benchmark reiterated a "hold" rating on shares of Thor Industries in a research note on Friday, June 12th. Finally, Loop Capital lifted their price target on shares of Thor Industries from $90.00 to $96.00 and gave the company a "buy" rating in a research report on Thursday, June 4th. Three analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $92.33.

Thor Industries Stock Up 1.5%

Shares of Thor Industries stock opened at $76.93 on Friday. The company has a current ratio of 1.71, a quick ratio of 0.80 and a debt-to-equity ratio of 0.20. Thor Industries has a 12-month low of $69.71 and a 12-month high of $122.83. The company has a market cap of $4.00 billion, a P/E ratio of 33.30, a PEG ratio of 1.66 and a beta of 1.34. The company's fifty day simple moving average is $76.91 and its two-hundred day simple moving average is $80.13.

Thor Industries (NYSE:THO - Get Free Report) last announced its earnings results on Wednesday, June 3rd. The RV manufacturer reported $1.86 earnings per share for the quarter, missing analysts' consensus estimates of $1.88 by ($0.02). Thor Industries had a net margin of 2.67% and a return on equity of 5.74%. The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the previous year, the firm posted $2.53 EPS. The company's revenue for the quarter was down 3.9% on a year-over-year basis. Research analysts anticipate that Thor Industries will post 3.21 EPS for the current year.

Hedge Funds Weigh In On Thor Industries

Several institutional investors and hedge funds have recently modified their holdings of THO. Allworth Financial LP bought a new position in Thor Industries in the 2nd quarter worth about $26,000. Curio Wealth LLC purchased a new stake in Thor Industries during the 4th quarter valued at $36,000. Danske Bank A S purchased a new position in shares of Thor Industries in the third quarter worth $41,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Thor Industries in the 4th quarter worth about $51,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Thor Industries during the 2nd quarter valued at about $52,000. 96.71% of the stock is currently owned by institutional investors.

Thor Industries Company Profile

Thor Industries, Inc is a leading manufacturer of recreational vehicles (RVs) and related components for the leisure travel market. Through its family of well-known brands—such as Airstream, Heartland, Jayco, Keystone RV and Thor Motor Coach—the company designs, manufactures and sells a broad range of motorized and towable RVs, complemented by aftermarket parts and service solutions. Thor offers products that span travel trailers, fifth wheels, toy haulers and Class A, B and C motorhomes, addressing both entry-level and premium segments.

Founded in 1980 when Wade Thompson and Peter Orthwein acquired Airstream from Beatrice Foods, Thor Industries has grown organically and through strategic acquisitions to become one of the largest RV producers in the world.

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