Thor Industries (NYSE:THO) Price Target Lowered to $117.00 at Citigroup

Key Points

• Thor Industries had its price target reduced from $122.00 to $117.00 by Citigroup, maintaining a "neutral" rating on the stock, which suggests a potential upside of 11.47% from current levels.
• Multiple analysts have recently updated their price targets, with BMO Capital Markets raising it to $115.00 and Bank of America to $120.00, while the average rating for the stock stands at "Hold" with a price target of $104.63.
• Thor Industries has authorized a stock buyback plan worth $400 million, indicating management's belief that the stock is currently undervalued.

Thor Industries (NYSE:THO - Get Free Report) had its price objective cut by analysts at Citigroup from $122.00 to $117.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the RV manufacturer's stock. Citigroup's price objective suggests a potential upside of 11.47% from the company's current price.

Several other analysts have also recently commented on THO. BMO Capital Markets lifted their target price on shares of Thor Industries from $105.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, September 26th. Truist Financial boosted their price objective on shares of Thor Industries from $86.00 to $115.00 and gave the company a "hold" rating in a research note on Wednesday, September 3rd. Weiss Ratings reissued a "hold (c)" rating on shares of Thor Industries in a research note on Wednesday. Bank of America boosted their price objective on shares of Thor Industries from $100.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Finally, Robert W. Baird boosted their price objective on shares of Thor Industries from $90.00 to $110.00 and gave the company a "neutral" rating in a research note on Thursday, September 25th. Two analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $104.63.

Thor Industries Trading Up 0.4%

THO stock traded up $0.43 during midday trading on Wednesday, hitting $104.96. The stock had a trading volume of 506,938 shares, compared to its average volume of 777,090. The firm has a market cap of $5.52 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 1.82 and a beta of 1.35. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.75 and a quick ratio of 0.90. Thor Industries has a 12-month low of $63.15 and a 12-month high of $118.85. The company's 50-day moving average price is $104.70 and its 200 day moving average price is $89.74.

Thor Industries declared that its board has authorized a stock buyback plan on Monday, June 23rd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the RV manufacturer to reacquire up to 8.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Hedge Funds Weigh In On Thor Industries

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its holdings in shares of Thor Industries by 0.6% during the 1st quarter. Principal Financial Group Inc. now owns 122,374 shares of the RV manufacturer's stock valued at $9,277,000 after acquiring an additional 755 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Thor Industries by 4.2% during the 1st quarter. Crossmark Global Holdings Inc. now owns 3,560 shares of the RV manufacturer's stock valued at $270,000 after acquiring an additional 145 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Thor Industries by 7.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 3,281 shares of the RV manufacturer's stock valued at $249,000 after acquiring an additional 228 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in Thor Industries by 33.5% in the 1st quarter. QRG Capital Management Inc. now owns 20,453 shares of the RV manufacturer's stock worth $1,551,000 after buying an additional 5,136 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Thor Industries by 6.0% in the 1st quarter. Teacher Retirement System of Texas now owns 13,211 shares of the RV manufacturer's stock worth $1,002,000 after buying an additional 749 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company's stock.

Thor Industries Company Profile

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.

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