Scientech Research LLC Purchases Shares of 7,820 Thor Industries, Inc. $THO

Key Points

• Scientech Research LLC purchased 7,820 shares of Thor Industries, valued at approximately $593,000, indicating increasing institutional interest in the company.
• Thor Industries' Director Peter Busch Orthwein bought 3,000 shares recently, increasing his stake in the company and highlighting insider confidence in its performance.
• Recent analyst upgrades have led to a shift in ratings for Thor Industries, with Zacks Research moving it to a "hold" rating and Citigroup raising its target price from $88.00 to $100.00.

Scientech Research LLC acquired a new stake in Thor Industries, Inc. (NYSE:THO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,820 shares of the construction company's stock, valued at approximately $593,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Captrust Financial Advisors grew its stake in Thor Industries by 137.1% in the fourth quarter. Captrust Financial Advisors now owns 7,093 shares of the construction company's stock valued at $679,000 after purchasing an additional 4,101 shares during the last quarter. Cetera Investment Advisers grew its stake in Thor Industries by 5.0% in the fourth quarter. Cetera Investment Advisers now owns 38,518 shares of the construction company's stock valued at $3,687,000 after purchasing an additional 1,820 shares during the last quarter. Ethic Inc. purchased a new position in Thor Industries in the fourth quarter valued at about $272,000. Gotham Asset Management LLC grew its stake in Thor Industries by 6.1% in the fourth quarter. Gotham Asset Management LLC now owns 87,955 shares of the construction company's stock valued at $8,418,000 after purchasing an additional 5,034 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in Thor Industries by 1.0% in the fourth quarter. Janus Henderson Group PLC now owns 433,768 shares of the construction company's stock valued at $41,518,000 after purchasing an additional 4,410 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Peter Busch Orthwein bought 3,000 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were purchased at an average price of $85.40 per share, for a total transaction of $256,200.00. Following the completion of the transaction, the director directly owned 136,400 shares in the company, valued at approximately $11,648,560. This represents a 2.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

THO has been the topic of several analyst reports. Wall Street Zen upgraded Thor Industries from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Bank of America lifted their target price on Thor Industries from $100.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday. Truist Financial boosted their price target on Thor Industries from $86.00 to $115.00 and gave the stock a "hold" rating in a research note on Wednesday, September 3rd. Zacks Research upgraded Thor Industries from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 3rd. Finally, Citigroup boosted their price target on Thor Industries from $100.00 to $112.00 and gave the stock a "neutral" rating in a research note on Friday. Two research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $94.88.

Thor Industries Stock Down 4.8%

Shares of THO stock traded down $5.34 during trading hours on Friday, reaching $105.02. 749,812 shares of the company's stock were exchanged, compared to its average volume of 629,958. The stock's fifty day moving average price is $100.51 and its two-hundred day moving average price is $87.50. The stock has a market cap of $5.59 billion, a PE ratio of 25.18, a PEG ratio of 2.20 and a beta of 1.34. Thor Industries, Inc. has a 1 year low of $63.15 and a 1 year high of $118.85. The company has a current ratio of 1.71, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24.

Thor Industries declared that its Board of Directors has initiated a share buyback plan on Monday, June 23rd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the construction company to purchase up to 8.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Thor Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were given a $0.50 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.9%. Thor Industries's dividend payout ratio is currently 47.96%.

About Thor Industries

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.