Thor Industries, Inc. (NYSE:THO) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Thor Industries has received a consensus rating of "Hold" from eleven brokerages, with a mean one-year price target of $96.875.
• Analyst reports have resulted in target price increases, with Bank of America raising their target from $100 to $120 and Citigroup from $100 to $112.
• The company's Board of Directors has approved a $400 million share repurchase plan, signifying their belief that the stock is undervalued.

Thor Industries, Inc. (NYSE:THO - Get Free Report) has earned an average rating of "Hold" from the eleven research firms that are presently covering the firm, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $96.8750.

A number of brokerages have recently issued reports on THO. Bank of America boosted their target price on Thor Industries from $100.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Citigroup boosted their target price on Thor Industries from $100.00 to $112.00 and gave the stock a "neutral" rating in a research report on Friday, September 12th. KeyCorp raised Thor Industries from an "underweight" rating to a "sector weight" rating in a research report on Friday, August 1st. Truist Financial upped their price target on Thor Industries from $86.00 to $115.00 and gave the company a "hold" rating in a research report on Wednesday, September 3rd. Finally, Zacks Research raised Thor Industries from a "strong sell" rating to a "hold" rating in a research report on Wednesday, September 3rd.

Thor Industries Trading Down 0.4%

Shares of Thor Industries stock traded down $0.37 on Friday, reaching $102.36. 572,565 shares of the company were exchanged, compared to its average volume of 774,779. The stock has a fifty day moving average price of $101.65 and a 200-day moving average price of $87.74. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 2.09 and a beta of 1.33. The company has a current ratio of 1.71, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. Thor Industries has a fifty-two week low of $63.15 and a fifty-two week high of $118.85.

Thor Industries declared that its Board of Directors has authorized a stock repurchase program 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 programs are often an indication that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. increased its holdings in shares of Thor Industries by 2,463.6% during the 2nd quarter. Hantz Financial Services Inc. now owns 282 shares of the construction company's stock valued at $25,000 after acquiring an additional 271 shares during the last quarter. Country Trust Bank grew its holdings in Thor Industries by 50.0% in the 2nd quarter. Country Trust Bank now owns 300 shares of the construction company's stock valued at $27,000 after buying an additional 100 shares during the last quarter. Curio Wealth LLC grew its holdings in Thor Industries by 33,300.0% in the 2nd quarter. Curio Wealth LLC now owns 334 shares of the construction company's stock valued at $30,000 after buying an additional 333 shares during the last quarter. MAI Capital Management grew its holdings in shares of Thor Industries by 174.8% during the 2nd quarter. MAI Capital Management now owns 371 shares of the construction company's stock worth $33,000 after purchasing an additional 236 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Thor Industries by 135.6% during the 1st quarter. UMB Bank n.a. now owns 483 shares of the construction company's stock worth $37,000 after purchasing an additional 278 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company's stock.

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.