Salvus Wealth Management LLC Purchases 4,676 Shares of Thor Industries, Inc. $THO

Key Points

• Salvus Wealth Management LLC increased its stake in Thor Industries by 9.5% during the 2nd quarter, owning 53,681 shares valued at approximately $4.77 million.
• Thor Industries announced a $400 million stock buyback plan, allowing the company to repurchase up to 8.8% of its shares, signaling confidence in its stock valuation.
• Several firms have raised their price targets on Thor Industries, with Bank of America increasing its price objective from $100 to $120, indicating positive market sentiment for the stock.

Salvus Wealth Management LLC increased its holdings in Thor Industries, Inc. (NYSE:THO - Free Report) by 9.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,681 shares of the construction company's stock after purchasing an additional 4,676 shares during the period. Thor Industries accounts for 2.8% of Salvus Wealth Management LLC's holdings, making the stock its 8th biggest holding. Salvus Wealth Management LLC owned 0.10% of Thor Industries worth $4,767,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. UMB Bank n.a. lifted its position in Thor Industries by 135.6% during the 1st quarter. UMB Bank n.a. now owns 483 shares of the construction company's stock worth $37,000 after acquiring an additional 278 shares during the period. Parallel Advisors LLC boosted its position in shares of Thor Industries by 198.3% during the 2nd quarter. Parallel Advisors LLC now owns 516 shares of the construction company's stock worth $46,000 after purchasing an additional 343 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Thor Industries by 336.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 785 shares of the construction company's stock valued at $61,000 after acquiring an additional 605 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Thor Industries by 96.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 805 shares of the construction company's stock valued at $61,000 after buying an additional 395 shares during the period. Finally, eCIO Inc. bought a new position in shares of Thor Industries in the 1st quarter worth about $62,000. Hedge funds and other institutional investors own 96.71% of the company's stock.

Wall Street Analysts Forecast Growth

THO has been the topic of several analyst reports. Citigroup increased their target price on shares of Thor Industries from $100.00 to $112.00 and gave the stock a "neutral" rating in a research report on Friday, September 12th. Truist Financial upped their price target on shares of Thor Industries from $86.00 to $115.00 and gave the company a "hold" rating in a research note on Wednesday, September 3rd. Roth Capital set a $93.00 price target on shares of Thor Industries and gave the company a "neutral" rating in a research note on Wednesday, September 17th. Wall Street Zen raised Thor Industries from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Finally, KeyCorp upgraded shares of Thor Industries from an "underweight" rating to a "sector weight" rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $96.88.

Thor Industries Stock Down 0.8%

Thor Industries stock traded down $0.85 during mid-day trading on Monday, reaching $101.88. 1,035,222 shares of the company were exchanged, compared to its average volume of 692,657. The business has a fifty day moving average of $101.84 and a 200 day moving average of $87.85. The firm has a market cap of $5.42 billion, a P/E ratio of 24.43, a PEG ratio of 2.09 and a beta of 1.33. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.71. Thor Industries, Inc. has a 12-month low of $63.15 and a 12-month high of $118.85.

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

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.