Truist Financial Cuts Thor Industries (NYSE:THO) Price Target to $110.00

Key Points

• Truist Financial has lowered its price target for Thor Industries from $115.00 to $110.00, maintaining a "hold" rating on the stock, which implies a potential upside of 6.79%.
• Other analysts have varied ratings, with Bank of America raising their target to $120.00 and giving a "buy" rating, while Zacks upgraded the stock from "strong sell" to "hold".
• Thor Industries is executing a $400 million stock repurchase plan, indicating the company's belief that its shares are undervalued.

Thor Industries (NYSE:THO - Get Free Report) had its price target cut by investment analysts at Truist Financial from $115.00 to $110.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "hold" rating on the RV manufacturer's stock. Truist Financial's target price suggests a potential upside of 6.79% from the stock's current price.

A number of other research firms have also commented on THO. Bank of America lifted their target price on shares of Thor Industries from $100.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Zacks Research raised shares of Thor Industries from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 3rd. 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 report on Friday, September 26th. Roth Capital set a $93.00 target price on shares of Thor Industries and gave the stock a "neutral" rating in a report on Wednesday, September 17th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Thor Industries in a report on Wednesday. Two research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Thor Industries has a consensus rating of "Hold" and a consensus target price of $104.00.

Thor Industries Trading Down 1.7%

THO traded down $1.83 during trading on Thursday, reaching $103.01. 83,144 shares of the company's stock were exchanged, compared to its average volume of 773,250. The company's fifty day moving average price is $104.92 and its 200-day moving average price is $89.84. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.90 and a current ratio of 1.75. Thor Industries has a fifty-two week low of $63.15 and a fifty-two week high of $118.85. The firm has a market capitalization of $5.42 billion, a PE ratio of 24.72, a P/E/G ratio of 1.79 and a beta of 1.35.

Thor Industries declared that its Board of Directors has initiated a stock repurchase plan on Monday, June 23rd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the RV manufacturer to buy up to 8.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its shares are undervalued.

Hedge Funds Weigh In On Thor Industries

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. boosted its stake in Thor Industries by 2,463.6% in the 2nd quarter. Hantz Financial Services Inc. now owns 282 shares of the RV manufacturer's stock worth $25,000 after purchasing an additional 271 shares during the period. Country Trust Bank boosted its stake in Thor Industries by 50.0% in the 2nd quarter. Country Trust Bank now owns 300 shares of the RV manufacturer's stock worth $27,000 after purchasing an additional 100 shares during the period. Curio Wealth LLC boosted its stake in Thor Industries by 33,300.0% in the 2nd quarter. Curio Wealth LLC now owns 334 shares of the RV manufacturer's stock worth $30,000 after purchasing an additional 333 shares during the period. 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 RV manufacturer's stock worth $33,000 after purchasing an additional 236 shares during the period. Finally, Signaturefd LLC boosted its stake in Thor Industries by 86.6% in the 2nd quarter. Signaturefd LLC now owns 446 shares of the RV manufacturer's stock worth $40,000 after purchasing an additional 207 shares during the period. 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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