Insider Buying: Thor Industries, Inc. (NYSE:THO) Director Acquires 3,000 Shares of Stock

Thor Industries, Inc. (NYSE:THO - Get Free Report) Director Peter Busch Orthwein bought 3,000 shares of Thor Industries stock in a transaction dated Friday, June 20th. The shares were purchased at an average cost of $85.40 per share, for a total transaction of $256,200.00. Following the completion of the transaction, the director now owns 136,400 shares of the company's stock, valued at approximately $11,648,560. This represents a 2.25% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Thor Industries Stock Performance

Shares of NYSE THO traded up $2.18 during midday trading on Thursday, hitting $88.68. The company's stock had a trading volume of 528,886 shares, compared to its average volume of 668,136. 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 1-year low of $63.16 and a 1-year high of $118.85. The firm's fifty day moving average price is $80.69 and its 200-day moving average price is $87.72. The firm has a market cap of $4.72 billion, a P/E ratio of 21.27, a P/E/G ratio of 1.80 and a beta of 1.21.

Thor Industries (NYSE:THO - Get Free Report) last issued its earnings results on Wednesday, June 4th. The construction company reported $2.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.79 by $0.74. The firm had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $2.60 billion. Thor Industries had a net margin of 2.32% and a return on equity of 6.15%. Thor Industries's revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company posted $2.13 earnings per share. On average, sell-side analysts forecast that Thor Industries, Inc. will post 4.64 EPS for the current fiscal year.

Thor Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a yield of 2.26%. Thor Industries's payout ratio is currently 47.96%.

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

Institutional Investors Weigh In On Thor Industries

A number of hedge funds have recently added to or reduced their stakes in THO. Voya Investment Management LLC grew its position in shares of Thor Industries by 2.9% during the first quarter. Voya Investment Management LLC now owns 6,356 shares of the construction company's stock worth $482,000 after acquiring an additional 179 shares during the last quarter. eCIO Inc. bought a new position in Thor Industries in the 1st quarter worth about $62,000. Inspire Investing LLC increased its stake in shares of Thor Industries by 13.0% in the first quarter. Inspire Investing LLC now owns 5,225 shares of the construction company's stock valued at $396,000 after purchasing an additional 600 shares during the period. Strs Ohio bought a new stake in shares of Thor Industries during the first quarter valued at approximately $1,375,000. Finally, Belpointe Asset Management LLC raised its holdings in shares of Thor Industries by 23.4% during the first quarter. Belpointe Asset Management LLC now owns 5,671 shares of the construction company's stock valued at $430,000 after buying an additional 1,077 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. KeyCorp lifted their target price on Thor Industries from $60.00 to $65.00 and gave the stock an "underweight" rating in a research report on Friday, May 30th. Citigroup lowered shares of Thor Industries from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $94.00 to $86.00 in a research note on Wednesday, March 19th. Robert W. Baird downgraded shares of Thor Industries from an "outperform" rating to a "neutral" rating and reduced their price objective for the company from $100.00 to $85.00 in a research note on Friday, April 4th. DA Davidson upgraded shares of Thor Industries to a "hold" rating in a research note on Monday, April 14th. Finally, Roth Capital set a $77.00 target price on shares of Thor Industries and gave the company a "neutral" rating in a research note on Monday, June 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $87.63.

About Thor Industries

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.