Thor Industries (NYSE:THO) Share Price Breaks Below Two Hundred Day Moving Average - What's Next?

Key Points

• Thor Industries shares fell below their 200-day moving average, trading as low as $79.95 and last at $80.80, versus a 200-day average of $81.25.
• Analysts have a consensus Hold rating and an average price target of $85, though recent target changes and ratings were mixed.
• Quarterly EPS of $0.78 missed the $0.88 consensus, while revenue of $2.31 billion topped estimates but declined 8.4% year over year. Thor also raised its quarterly dividend from $0.52 to $0.54 per share.

Thor Industries, Inc. (NYSE:THO - Get Free Report)'s share price passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $81.25 and traded as low as $79.95. Thor Industries shares last traded at $80.8030, with a volume of 747,774 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently commented on THO. Citigroup reduced their price target on shares of Thor Industries from $76.00 to $70.00 and set a "neutral" rating for the company in a research note on Tuesday, October 13th. Wall Street Zen cut shares of Thor Industries from a "hold" rating to a "sell" rating in a research report on Saturday, September 19th. Bank of America dropped their price objective on Thor Industries from $96.00 to $86.00 and set a "buy" rating for the company in a report on Monday, September 21st. Weiss Ratings upgraded Thor Industries from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday. Finally, Zacks Research raised Thor Industries from a "strong sell" rating to a "hold" rating in a research report on Monday, August 24th. Three research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $85.00.

Thor Industries Stock Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.85 and a current ratio of 1.77. The firm has a market cap of $4.17 billion, a P/E ratio of 23.84, a P/E/G ratio of 1.09 and a beta of 1.53. The business's 50-day simple moving average is $71.46 and its 200 day simple moving average is $81.25.

Thor Industries (NYSE:THO - Get Free Report) last posted its quarterly earnings results 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 analysts' expectations of $2.17 billion. During the same quarter in the previous year, the firm posted $2.36 EPS. The firm's revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, equities analysts predict that Thor Industries, Inc. will post 4.09 earnings per share for the current year.

Thor Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Tuesday, October 27th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.7%. This is a boost from Thor Industries's previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, October 27th. Thor Industries's dividend payout ratio is presently 63.72%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new position in shares of Thor Industries during the second quarter worth about $1,077,000. Edgestream Partners L.P. lifted its position in Thor Industries by 133.0% during the first quarter. Edgestream Partners L.P. now owns 26,816 shares of the RV manufacturer's stock valued at $2,142,000 after acquiring an additional 15,309 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Thor Industries in the second quarter valued at approximately $65,419,000. Bank of America Corp DE purchased a new position in Thor Industries during the second quarter worth approximately $6,886,000. Finally, QV Investors Inc. lifted its holdings in Thor Industries by 79.3% during the 2nd quarter. QV Investors Inc. now owns 197,996 shares of the RV manufacturer's stock worth $14,881,000 after buying an additional 87,590 shares during the last quarter. 96.71% of the stock is owned by institutional investors.

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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