THOR Industries (NYSE:THO) Price Target Raised to $78.00 at Truist Financial

THOR Industries (NYSE:THO - Free Report) had its target price hoisted by Truist Financial from $72.00 to $78.00 in a research note published on Tuesday morning, Marketbeat Ratings reports. The firm currently has a hold rating on the construction company's stock.

A number of other equities research analysts have also weighed in on the company. Robert W. Baird lowered THOR Industries from an "outperform" rating to a "neutral" rating and lowered their target price for the company from $100.00 to $85.00 in a research note on Friday, April 4th. Baird R W downgraded THOR Industries from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. BMO Capital Markets cut their target price on THOR Industries from $120.00 to $105.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. DA Davidson upgraded THOR Industries to a "hold" rating in a research note on Monday, April 14th. Finally, Citigroup cut THOR Industries from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $94.00 to $86.00 in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, THOR Industries has a consensus rating of "Hold" and an average price target of $89.14.

THOR Industries Price Performance

Shares of THO traded up $3.75 during midday trading on Tuesday, reaching $86.16. The stock had a trading volume of 2,027,799 shares, compared to its average volume of 658,652. The company's 50-day moving average is $75.27 and its 200 day moving average is $90.23. THOR Industries has a 12-month low of $63.16 and a 12-month high of $118.85. The company has a current ratio of 1.71, a quick ratio of 0.78 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 22.04, a price-to-earnings-growth ratio of 1.16 and a beta of 1.26.

THOR Industries (NYSE:THO - Get Free Report) last posted its quarterly earnings data on Wednesday, June 4th. The construction company reported $2.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.75 by $0.78. THOR Industries had a return on equity of 5.97% and a net margin of 2.17%. The firm had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $2.60 billion. During the same period in the prior year, the business earned $2.13 EPS. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts predict that THOR Industries will post 4.64 EPS for the current fiscal year.

THOR Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 8th were paid a $0.50 dividend. The ex-dividend date was Tuesday, April 8th. This represents a $2.00 dividend on an annualized basis and a yield of 2.32%. THOR Industries's payout ratio is presently 53.05%.

Institutional Investors Weigh In On THOR Industries

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of THOR Industries by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 611,890 shares of the construction company's stock worth $58,564,000 after purchasing an additional 10,455 shares during the last quarter. Amundi increased its holdings in shares of THOR Industries by 26.2% in the fourth quarter. Amundi now owns 4,354 shares of the construction company's stock worth $415,000 after purchasing an additional 905 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of THOR Industries by 55.4% in the fourth quarter. Sterling Capital Management LLC now owns 3,014 shares of the construction company's stock worth $288,000 after purchasing an additional 1,075 shares during the last quarter. US Bancorp DE increased its holdings in shares of THOR Industries by 9.6% in the fourth quarter. US Bancorp DE now owns 3,667 shares of the construction company's stock worth $351,000 after purchasing an additional 322 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of THOR Industries by 4.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 8,741 shares of the construction company's stock worth $837,000 after purchasing an additional 370 shares during the last quarter. 96.71% of the stock is owned by institutional investors.

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.