Strs Ohio Takes $1.38 Million Position in Thor Industries, Inc. $THO

Key Points

• Strs Ohio has made a new investment in Thor Industries, Inc., acquiring 18,140 shares valued at approximately $1.375 million during the first quarter.
• Thor Industries announced a $400 million stock repurchase program, indicating confidence that its stock is undervalued; this allows the company to repurchase up to 8.8% of its outstanding shares.
• Recent analyst ratings show mixed sentiments, with Bank of America raising its price target to $120 and multiple firms assigning hold ratings, reflecting cautious optimism about the company's future performance.

Strs Ohio bought a new position in Thor Industries, Inc. (NYSE:THO - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,140 shares of the construction company's stock, valued at approximately $1,375,000.

Several other institutional investors also recently modified their holdings of THO. ACR Alpine Capital Research LLC boosted its position in shares of Thor Industries by 62.5% during the first quarter. ACR Alpine Capital Research LLC now owns 3,482,917 shares of the construction company's stock valued at $264,040,000 after buying an additional 1,339,951 shares during the last quarter. Southpoint Capital Advisors LP lifted its holdings in Thor Industries by 106.2% in the first quarter. Southpoint Capital Advisors LP now owns 1,250,000 shares of the construction company's stock valued at $94,762,000 after acquiring an additional 643,851 shares during the period. Timucuan Asset Management Inc. FL lifted its holdings in Thor Industries by 20.1% in the first quarter. Timucuan Asset Management Inc. FL now owns 2,448,401 shares of the construction company's stock valued at $185,613,000 after acquiring an additional 409,636 shares during the period. Vanguard Group Inc. lifted its holdings in Thor Industries by 6.5% in the first quarter. Vanguard Group Inc. now owns 5,376,681 shares of the construction company's stock valued at $407,606,000 after acquiring an additional 326,584 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Thor Industries by 43.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 547,659 shares of the construction company's stock valued at $41,518,000 after acquiring an additional 167,148 shares during the period. 96.71% of the stock is owned by hedge funds and other institutional investors.

Thor Industries Stock Down 0.9%

Shares of THO stock traded down $0.88 during mid-day trading on Friday, hitting $102.73. The stock had a trading volume of 1,064,819 shares, compared to its average volume of 689,417. Thor Industries, Inc. has a 12-month low of $63.15 and a 12-month high of $118.85. The firm has a market capitalization of $5.47 billion, a P/E ratio of 24.64, a price-to-earnings-growth ratio of 2.11 and a beta of 1.34. The firm's 50-day moving average is $101.65 and its two-hundred day moving average is $87.69. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.71 and a quick ratio of 0.90.

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

Analysts Set New Price Targets

THO has been the topic of several recent research reports. Zacks Research raised Thor Industries from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 3rd. Truist Financial increased their target price on Thor Industries from $86.00 to $115.00 and gave the stock a "hold" rating in a research report on Wednesday, September 3rd. Bank of America lifted their price objective on Thor Industries from $100.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Citigroup lifted their price objective on Thor Industries from $100.00 to $112.00 and gave the stock a "neutral" rating in a research note on Friday, September 12th. Finally, Wall Street Zen raised Thor Industries from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Two research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $96.88.

Thor Industries 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.