Thor Industries (NYSE:THO) Stock Price Expected to Rise, Citigroup Analyst Says

Key Points

• Citigroup has raised its target price for Thor Industries from $100.00 to $112.00, indicating a potential upside of 3.77% from the company's previous close, while maintaining a "neutral" rating.
• About 96.71% of Thor Industries stock is owned by institutional investors, with recent activity showing various firms increasing their stakes in the company.
• Thor Industries has initiated a $400 million share repurchase program, which reflects management's belief that the stock is undervalued.

Thor Industries (NYSE:THO - Get Free Report) had its target price lifted by Citigroup from $100.00 to $112.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the construction company's stock. Citigroup's price target suggests a potential upside of 3.77% from the company's previous close.

A number of other research analysts have also recently weighed in on the company. Roth Capital set a $77.00 price target on Thor Industries and gave the company a "neutral" rating in a research report on Monday, June 9th. Zacks Research upgraded Thor Industries from a "strong sell" rating to a "hold" rating in a research report on Wednesday, September 3rd. Truist Financial raised 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. Bank of America raised their price target on Thor Industries from $100.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, KeyCorp upgraded Thor Industries from an "underweight" rating to a "sector weight" rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $94.88.

Thor Industries Price Performance

NYSE:THO traded down $2.43 during trading hours on Friday, hitting $107.93. The company's stock had a trading volume of 22,975 shares, compared to its average volume of 765,645. The business's 50-day moving average is $100.26 and its two-hundred day moving average is $87.48. The company has a market capitalization of $5.74 billion, a PE ratio of 25.90, a PEG ratio of 2.14 and a beta of 1.34. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.71. Thor Industries has a 52-week low of $63.15 and a 52-week high of $118.85.

Thor Industries announced that its Board of Directors has initiated a share repurchase program on Monday, June 23rd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 8.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Insider Transactions at Thor Industries

In other Thor Industries news, Director Peter Busch Orthwein purchased 3,000 shares of the firm's stock in a transaction on Friday, June 20th. The shares were purchased at an average cost of $85.40 per share, with a total value of $256,200.00. Following the purchase, the director owned 136,400 shares in the company, valued at approximately $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 at this link. Insiders own 4.50% of the company's stock.

Institutional Trading of Thor Industries

A number of hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. raised its holdings in shares of Thor Industries by 17.2% in the 2nd quarter. Osaic Holdings Inc. now owns 2,407 shares of the construction company's stock worth $214,000 after purchasing an additional 353 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of Thor Industries in the 2nd quarter worth about $271,000. Rexford Capital Inc. purchased a new position in shares of Thor Industries in the 2nd quarter worth about $167,000. CANADA LIFE ASSURANCE Co raised its holdings in shares of Thor Industries by 0.3% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 34,810 shares of the construction company's stock worth $3,089,000 after purchasing an additional 104 shares during the period. Finally, Corient Private Wealth LLC raised its holdings in shares of Thor Industries by 87.2% in the 2nd quarter. Corient Private Wealth LLC now owns 38,073 shares of the construction company's stock worth $3,381,000 after purchasing an additional 17,730 shares during the period. 96.71% of the stock is owned by institutional investors and hedge funds.

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.

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