Thor Industries (NYSE:THO) Hits New 1-Year Low - Here's What Happened

Key Points

• Thor Industries shares hit a new 52-week low, trading as low as $63.16 and closing near $63.06, well below the 50-day and 200-day moving averages.
• Analyst sentiment remains cautious: the stock has an overall “Hold” rating, with a consensus price target of $85.67, while several firms recently lowered their targets and Weiss Ratings downgraded the shares to “Sell.”
• The company missed quarterly earnings expectations, reporting $0.78 in EPS versus $0.88 forecast, while revenue declined 8.4% year over year despite exceeding estimates at $2.31 billion.

Thor Industries, Inc. (NYSE:THO - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Monday. The stock traded as low as $63.16 and last traded at $63.06, with a volume of 15,016 shares changing hands. The stock had previously closed at $63.87.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Truist Financial upped their price target on Thor Industries from $80.00 to $87.00 and gave the stock a "hold" rating in a report on Thursday. Weiss Ratings cut Thor Industries from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, September 28th. Citigroup cut their price objective on shares of Thor Industries from $79.00 to $76.00 and set a "neutral" rating on the stock in a report on Wednesday, September 16th. DA Davidson cut their price objective on shares of Thor Industries from $100.00 to $80.00 and set a "neutral" rating on the stock in a report on Monday, June 15th. Finally, BMO Capital Markets reduced their target price on shares of Thor Industries from $110.00 to $95.00 and set an "outperform" rating for the company in a research note on Tuesday, September 15th. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $85.67.

Thor Industries Price Performance

The company has a current ratio of 1.77, a quick ratio of 0.85 and a debt-to-equity ratio of 0.20. The business's fifty day moving average is $74.26 and its 200 day moving average is $75.93. The company has a market cap of $3.27 billion, a P/E ratio of 18.73, a PEG ratio of 0.87 and a beta of 1.43.

Thor Industries (NYSE:THO - Get Free Report) last announced its quarterly earnings data on Tuesday, September 22nd. The RV manufacturer reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.10). Thor Industries had a net margin of 1.85% and a return on equity of 3.76%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period last 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 year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Thor Industries by 108.0% in the third quarter. GAMMA Investing LLC now owns 6,487 shares of the RV manufacturer's stock worth $448,000 after acquiring an additional 3,368 shares during the period. Versant Capital Management Inc grew its position in shares of Thor Industries by 865.7% in the third quarter. Versant Capital Management Inc now owns 985 shares of the RV manufacturer's stock valued at $68,000 after purchasing an additional 883 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Thor Industries by 32.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,310 shares of the RV manufacturer's stock valued at $850,000 after purchasing an additional 2,795 shares in the last quarter. Triad Investment Management raised its stake in shares of Thor Industries by 10.9% during the 2nd quarter. Triad Investment Management now owns 51,900 shares of the RV manufacturer's stock valued at $3,901,000 after purchasing an additional 5,088 shares during the period. Finally, Waverly Advisors LLC raised its stake in shares of Thor Industries by 4.4% during the 2nd quarter. Waverly Advisors LLC now owns 6,431 shares of the RV manufacturer's stock valued at $483,000 after purchasing an additional 271 shares during the period. Hedge funds and other institutional investors own 96.71% of the company's stock.

About Thor Industries

Thor Industries, Inc is a recreational vehicle (RV) manufacturer headquartered in Elkhart, Indiana. The company designs, manufactures, and sells towable and motorized RVs, including travel trailers, fifth wheels, conventional motorhomes, and touring coaches. Its products are marketed for vacation travel, camping, and other forms of recreational use.

Thor's North American portfolio includes well-known brands such as Airstream, Jayco, Keystone, Dutchmen, and CrossRoads. Airstream produces premium travel trailers and touring coaches, while the company's other brands serve a broad range of customers and price points across the RV market.

Thor also operates internationally through the Erwin Hymer Group, a major European recreational vehicle platform.

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