THOR Industries (NYSE:THO) Shares Gap Up on Earnings Beat

THOR Industries, Inc. (NYSE:THO - Get Free Report)'s share price gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $82.41, but opened at $89.65. THOR Industries shares last traded at $86.39, with a volume of 337,678 shares.

The construction company reported $2.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.79 by $0.74. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.60 billion. THOR Industries had a return on equity of 5.97% and a net margin of 2.17%. The business's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.13 EPS.

THOR Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 8th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.33%. THOR Industries's dividend payout ratio is presently 53.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. BMO Capital Markets dropped their price target on THOR Industries from $120.00 to $105.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Truist Financial upped their price target on THOR Industries from $72.00 to $78.00 and gave the company a "hold" rating in a research report on Tuesday. Baird R W cut THOR Industries from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. DA Davidson raised THOR Industries to a "hold" rating in a research report on Monday, April 14th. Finally, KeyCorp upped their price target on THOR Industries from $60.00 to $65.00 and gave the company an "underweight" rating in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $89.14.

Institutional Trading of THOR Industries

A number of institutional investors have recently added to or reduced their stakes in THO. Vanguard Group Inc. raised its holdings in shares of THOR Industries by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 5,376,681 shares of the construction company's stock valued at $407,606,000 after acquiring an additional 326,584 shares in the last quarter. ACR Alpine Capital Research LLC raised its holdings in shares of THOR Industries by 62.5% in the 1st quarter. ACR Alpine Capital Research LLC now owns 3,482,917 shares of the construction company's stock valued at $264,040,000 after acquiring an additional 1,339,951 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of THOR Industries by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,959,547 shares of the construction company's stock valued at $224,364,000 after acquiring an additional 29,012 shares in the last quarter. Timucuan Asset Management Inc. FL raised its holdings in shares of THOR Industries by 20.1% in the 1st quarter. Timucuan Asset Management Inc. FL now owns 2,448,401 shares of the construction company's stock valued at $185,613,000 after acquiring an additional 409,636 shares in the last quarter. Finally, Southpoint Capital Advisors LP raised its holdings in shares of THOR Industries by 106.2% in the 1st quarter. Southpoint Capital Advisors LP now owns 1,250,000 shares of the construction company's stock valued at $94,762,000 after acquiring an additional 643,851 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company's stock.

THOR Industries Trading Up 0.1%

The firm has a fifty day simple moving average of $75.46 and a two-hundred day simple moving average of $90.20. The stock has a market cap of $4.58 billion, a PE ratio of 21.99, a PEG ratio of 1.16 and a beta of 1.26. The company has a current ratio of 1.71, a quick ratio of 0.78 and a debt-to-equity ratio of 0.26.

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.