Thor Industries (NYSE:THO) Share Price Breaks Above Fifty Day Moving Average - Should You Sell?

Key Points

• Thor Industries shares rose above their 50-day moving average, trading as high as $73.82 and last changing hands near $73.57, up 3.5%.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating, with an average price target of $85.00; several firms recently lowered their targets, while Wall Street Zen downgraded the shares to “Sell.”
• The company missed quarterly EPS estimates and reported an 8.4% year-over-year revenue decline, but increased its quarterly dividend to $0.54 per share, implying a 2.9% yield.

Thor Industries, Inc. (NYSE:THO - Get Free Report)'s share price crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $71.32 and traded as high as $73.82. Thor Industries shares last traded at $73.5670, with a volume of 724,237 shares changing hands.

Analysts Set New Price Targets

THO has been the subject of a number of recent research reports. Wall Street Zen cut shares of Thor Industries from a "hold" rating to a "sell" rating in a research report on Saturday, September 19th. Roth Capital reissued a "neutral" rating and set a $74.00 price objective on shares of Thor Industries in a research note on Wednesday, September 23rd. Citigroup cut their price objective on shares of Thor Industries from $76.00 to $70.00 and set a "neutral" rating on the stock in a report on Tuesday, October 13th. BMO Capital Markets decreased 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. Finally, Bank of America lowered their target price on shares of Thor Industries from $96.00 to $86.00 and set a "buy" rating for the company in a report on Monday, September 21st. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $85.00.

Thor Industries Trading Up 3.5%

The firm has a market capitalization of $3.80 billion, a P/E ratio of 21.70, a P/E/G ratio of 0.97 and a beta of 1.43. 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 stock has a 50 day simple moving average of $71.32 and a 200-day simple moving average of $82.27.

Thor Industries (NYSE:THO - Get Free Report) last issued 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). The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.17 billion. Thor Industries had a return on equity of 3.76% and a net margin of 1.85%. Thor Industries's revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter last year, the company earned $2.36 EPS. On average, equities research analysts forecast that Thor Industries, Inc. will post 4.09 EPS for the current fiscal year.

Thor Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Tuesday, October 27th will be paid a dividend of $0.54 per share. This is a boost from Thor Industries's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, October 27th. This represents a $2.16 annualized dividend and a yield of 2.9%. Thor Industries's dividend payout ratio is 63.72%.

Institutional Investors Weigh In On Thor Industries

A number of hedge funds have recently bought and sold shares of the business. ProShare Advisors LLC grew its stake in Thor Industries by 6.9% in the third quarter. ProShare Advisors LLC now owns 350,716 shares of the RV manufacturer's stock worth $24,234,000 after purchasing an additional 22,589 shares in the last quarter. Sunesis Advisors LLC bought a new position in shares of Thor Industries during the third quarter valued at approximately $258,000. Signaturefd LLC boosted its stake in shares of Thor Industries by 37.4% during the third quarter. Signaturefd LLC now owns 1,048 shares of the RV manufacturer's stock valued at $72,000 after purchasing an additional 285 shares in the last quarter. Murphy Pohlad Asset Management LLC increased its holdings in Thor Industries by 2.5% during the third quarter. Murphy Pohlad Asset Management LLC now owns 7,127 shares of the RV manufacturer's stock valued at $492,000 after buying an additional 175 shares during the period. Finally, Inspire Investing LLC increased its holdings in Thor Industries by 3.8% during the third quarter. Inspire Investing LLC now owns 10,978 shares of the RV manufacturer's stock valued at $759,000 after buying an additional 404 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 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 products are marketed to consumers seeking options for travel, camping and outdoor recreation.

Thor's portfolio includes a broad range of brands, including Airstream, Jayco, Keystone RV, Entegra Coach, Tiffin and Dutchmen in North America.

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