Citigroup Issues Positive Forecast for Thor Industries (NYSE:THO) Stock Price

Key Points

• Citigroup has increased its price target for Thor Industries stock from $112.00 to $122.00, indicating a potential upside of 15.11% based on current prices, while maintaining a "neutral" rating.
• The company's Board of Directors has authorized a $400 million stock buyback program, reflecting confidence in the stock's valuation amid positive analyst forecasts.
• Thor Industries has received mixed ratings from analysts, with two ratings as "Buy" and a consensus rating of "Hold" from nine analysts, with a target price average of $101.25.

Thor Industries (NYSE:THO - Get Free Report) had its price target upped by equities research analysts at Citigroup from $112.00 to $122.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the RV manufacturer's stock. Citigroup's target price points to a potential upside of 15.11% from the company's current price.

A number of other equities research analysts have also issued reports on THO. Roth Capital set a $93.00 price target on Thor Industries and gave the company a "neutral" rating in a research report on Wednesday, September 17th. Zacks Research raised Thor Industries from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 3rd. KeyCorp raised Thor Industries from an "underweight" rating to a "sector weight" rating in a research note on Friday, August 1st. Truist Financial boosted their price target on shares of Thor Industries from $86.00 to $115.00 and gave the company a "hold" rating in a research report on Wednesday, September 3rd. Finally, Bank of America upped their price objective on shares of Thor Industries from $100.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Two research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $101.25.

Thor Industries Stock Performance

THO opened at $105.99 on Friday. The firm has a market capitalization of $5.64 billion, a PE ratio of 21.85, a PEG ratio of 2.33 and a beta of 1.34. Thor Industries has a twelve month low of $63.15 and a twelve month high of $118.85. The firm's 50-day moving average price is $102.84 and its 200 day moving average price is $88.26. The company has a current ratio of 1.75, a quick ratio of 0.90 and a debt-to-equity ratio of 0.21.

Thor Industries declared that its Board of Directors has authorized a stock buyback program on Monday, June 23rd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the RV manufacturer to reacquire up to 8.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Thor Industries

A number of hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. raised its position in Thor Industries by 2,463.6% in the second quarter. Hantz Financial Services Inc. now owns 282 shares of the RV manufacturer's stock valued at $25,000 after purchasing an additional 271 shares during the period. Country Trust Bank raised its holdings in shares of Thor Industries by 50.0% in the 2nd quarter. Country Trust Bank now owns 300 shares of the RV manufacturer's stock valued at $27,000 after buying an additional 100 shares during the period. Curio Wealth LLC lifted its stake in Thor Industries by 33,300.0% during the 2nd quarter. Curio Wealth LLC now owns 334 shares of the RV manufacturer's stock worth $30,000 after acquiring an additional 333 shares in the last quarter. MAI Capital Management lifted its stake in Thor Industries by 174.8% during the 2nd quarter. MAI Capital Management now owns 371 shares of the RV manufacturer's stock worth $33,000 after acquiring an additional 236 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in Thor Industries by 86.6% during the 2nd quarter. Signaturefd LLC now owns 446 shares of the RV manufacturer's stock valued at $40,000 after acquiring an additional 207 shares during the period. Hedge funds and other institutional investors own 96.71% of the company's stock.

Thor Industries Company Profile

THOR Industries, Inc designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories in the United States, Canada, and Europe. The company offers travel trailers; gasoline and diesel Class A, Class B, and Class C motorhomes; conventional travel trailers and fifth wheels; luxury fifth wheels; and motorcaravans, caravans, campervans, and urban vehicles.

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