Thor Industries (NYSE:THO) Price Target Raised to $115.00 at Truist Financial

Key Points

• Thor Industries saw its price target raised from $86.00 to $115.00 by Truist Financial, indicating a potential upside of 6.59% from its current price.
• The company recently authorized a stock buyback plan worth $400 million, suggesting management believes its stock is currently undervalued.
• Thor Industries reported earnings of $2.53 per share for the last quarter, exceeding estimates and showcasing a 3.3% year-over-year revenue growth.

Thor Industries (NYSE:THO - Get Free Report) had its price target raised by stock analysts at Truist Financial from $86.00 to $115.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "hold" rating on the construction company's stock. Truist Financial's price objective would suggest a potential upside of 6.59% from the company's current price.

THO has been the subject of a number of other reports. Roth Capital set a $77.00 price target on shares of Thor Industries and gave the stock a "neutral" rating in a research note on Monday, June 9th. Wall Street Zen upgraded shares of Thor Industries from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Citigroup reaffirmed a "neutral" rating and set a $100.00 price target (up from $88.00) on shares of Thor Industries in a research report on Tuesday, August 12th. Finally, KeyCorp raised shares of Thor Industries from an "underweight" rating to a "sector weight" rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Thor Industries currently has an average rating of "Hold" and a consensus price target of $94.00.

Thor Industries Stock Performance

NYSE THO opened at $107.89 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.71 and a quick ratio of 0.90. The company's fifty day moving average is $97.46 and its two-hundred day moving average is $86.97. Thor Industries has a 52-week low of $63.15 and a 52-week high of $118.85. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 25.87, a P/E/G ratio of 2.20 and a beta of 1.34.

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 for the quarter, beating the consensus estimate of $1.79 by $0.74. Thor Industries had a net margin of 2.32% and a return on equity of 6.15%. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period in the previous year, the business earned $2.13 EPS. The firm's revenue was up 3.3% on a year-over-year basis. Equities research analysts forecast that Thor Industries will post 4.64 EPS for the current year.

Thor Industries announced that its Board of Directors has authorized a stock buyback plan on Monday, June 23rd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 8.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Thor Industries

In other news, Director Peter Busch Orthwein bought 3,000 shares of the business's stock in a transaction on Friday, June 20th. The stock was acquired at an average price of $85.40 per share, with a total value of $256,200.00. Following the completion of the purchase, the director directly owned 136,400 shares in the company, valued at $11,648,560. This represents a 2.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 4.50% of the company's stock.

Institutional Trading of Thor Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in THO. Hantz Financial Services Inc. raised its holdings in Thor Industries by 2,463.6% in the second quarter. Hantz Financial Services Inc. now owns 282 shares of the construction company's stock worth $25,000 after purchasing an additional 271 shares in the last quarter. Country Trust Bank boosted its position in Thor Industries by 50.0% in the second quarter. Country Trust Bank now owns 300 shares of the construction company's stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Curio Wealth LLC lifted its position in shares of Thor Industries by 33,300.0% during 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 in the last quarter. MAI Capital Management boosted its stake in Thor Industries by 174.8% in 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 during the period. Finally, Signaturefd LLC increased its stake in Thor Industries by 86.6% in the 2nd quarter. Signaturefd LLC now owns 446 shares of the construction company's stock worth $40,000 after acquiring an additional 207 shares during the last quarter. Hedge funds and other institutional investors 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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