Hardy Reed LLC Buys New Stake in Thor Industries, Inc. $THO

Key Points

• Hardy Reed LLC acquired a new stake of 2,413 shares in Thor Industries, valued at approximately $214,000, during the second quarter of the year.
• Thor Industries' Board of Directors has authorized a $400 million share repurchase program, allowing the company to buy back up to 8.8% of its stock, typically indicating management's belief that shares are currently undervalued.
• Wall Street analysts have adjusted their ratings and price targets for Thor Industries, with a consensus target price of $105.25 and the majority rating it as a "Hold."

Hardy Reed LLC purchased a new position in shares of Thor Industries, Inc. (NYSE:THO - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,413 shares of the RV manufacturer's stock, valued at approximately $214,000.

Several other large investors also recently bought and sold shares of the stock. UMB Bank n.a. grew its holdings in shares of Thor Industries by 135.6% during the first quarter. UMB Bank n.a. now owns 483 shares of the RV manufacturer's stock worth $37,000 after purchasing an additional 278 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Thor Industries by 86.6% in the second 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. Parallel Advisors LLC grew its position in shares of Thor Industries by 198.3% during the second quarter. Parallel Advisors LLC now owns 516 shares of the RV manufacturer's stock worth $46,000 after acquiring an additional 343 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Thor Industries by 66.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 563 shares of the RV manufacturer's stock valued at $50,000 after acquiring an additional 225 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Thor Industries by 96.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 805 shares of the RV manufacturer's stock worth $61,000 after buying an additional 395 shares during the period. Institutional investors and hedge funds own 96.71% of the company's stock.

Thor Industries Trading Down 2.4%

NYSE THO opened at $106.50 on Tuesday. Thor Industries, Inc. has a 52 week low of $63.15 and a 52 week high of $118.85. The stock has a market cap of $5.61 billion, a P/E ratio of 25.54, a PEG ratio of 1.87 and a beta of 1.35. The company has a current ratio of 1.75, a quick ratio of 0.90 and a debt-to-equity ratio of 0.21. The company's fifty day simple moving average is $104.53 and its 200-day simple moving average is $89.64.

Thor Industries announced that its Board of Directors has authorized a share repurchase program on Monday, June 23rd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the RV manufacturer to purchase up to 8.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have weighed in on THO. Truist Financial lifted their target price on Thor Industries from $86.00 to $115.00 and gave the company a "hold" rating in a research note on Wednesday, September 3rd. Zacks Research raised Thor Industries from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 3rd. DA Davidson upped their price objective on Thor Industries from $78.00 to $102.00 and gave the stock a "neutral" rating in a report on Tuesday, September 30th. Robert W. Baird upped their price target on shares of Thor Industries from $90.00 to $110.00 and gave the stock a "neutral" rating in a research note on Thursday, September 25th. Finally, Bank of America increased their target price 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 analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $105.25.

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.

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