Bank of America Corp DE Purchases 91,621 Shares of Thor Industries, Inc. $THO

Key Points

• Bank of America purchased 91,621 Thor Industries shares worth approximately $6.9 million, establishing a position representing about 0.18% of the RV manufacturer. Institutional investors collectively own 96.71% of the company.
• Analyst sentiment remains cautious: Thor Industries has an average “Hold” rating and a consensus price target of $84.89, with recent target changes ranging from $76 to $96.
• Thor reported quarterly revenue of $2.31 billion, exceeding estimates, but earnings per share of $0.78 missed expectations of $0.88; revenue declined 8.4% year over year.

Bank of America Corp DE purchased a new position in Thor Industries, Inc. (NYSE:THO - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 91,621 shares of the RV manufacturer's stock, valued at approximately $6,886,000. Bank of America Corp DE owned about 0.18% of Thor Industries at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Thor Industries in the second quarter worth about $363,258,000. Madison Asset Management LLC bought a new stake in Thor Industries during the 2nd quarter valued at approximately $66,217,000. Canada Pension Plan Investment Board acquired a new stake in Thor Industries in the 2nd quarter valued at approximately $65,419,000. ACR Alpine Capital Research LLC increased its position in Thor Industries by 18.6% in the 1st quarter. ACR Alpine Capital Research LLC now owns 4,903,124 shares of the RV manufacturer's stock worth $391,711,000 after buying an additional 769,342 shares during the period. Finally, Balyasny Asset Management L.P. increased its position in Thor Industries by 130.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,081,238 shares of the RV manufacturer's stock worth $111,011,000 after buying an additional 611,639 shares during the period. Institutional investors own 96.71% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on THO. Citigroup decreased their price target on shares of Thor Industries from $79.00 to $76.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 16th. Robert W. Baird reduced their target price on shares of Thor Industries from $90.00 to $80.00 and set a "neutral" rating for the company in a research note on Wednesday, September 23rd. Benchmark reissued a "hold" rating on shares of Thor Industries in a research report on Friday, June 12th. Argus upgraded Thor Industries to a "hold" rating in a research note on Friday, June 12th. Finally, Loop Capital upped their price target on Thor Industries from $90.00 to $96.00 and gave the company a "buy" rating in a report on Thursday, June 4th. Three equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $84.89.

Thor Industries Stock Performance

NYSE:THO opened at $72.11 on Monday. The stock has a market capitalization of $3.72 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34. The company has a current ratio of 1.77, a quick ratio of 0.85 and a debt-to-equity ratio of 0.20. Thor Industries, Inc. has a 1 year low of $67.31 and a 1 year high of $122.83. The firm has a 50 day moving average of $75.98 and a 200-day moving average of $76.84.

Thor Industries (NYSE:THO - Get Free Report) last announced its earnings results on Tuesday, September 22nd. The RV manufacturer reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.88 by ($0.10). Thor Industries had a return on equity of 3.76% and a net margin of 1.85%.The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the company posted $2.36 earnings per share. Thor Industries's revenue for the quarter was down 8.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Thor Industries, Inc. will post 4.12 EPS for the current fiscal year.

About Thor Industries

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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