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

THOR Industries, Inc. (NYSE:THO) gapped up before the market opened 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 trading hands.

The construction company reported $2.53 EPS for the quarter, topping the consensus estimate of $1.75 by $0.78. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.60 billion. THOR Industries had a return on equity of 5.97% and a net margin of 2.17%. THOR Industries’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.13 EPS.

THOR Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Investors of record on Tuesday, April 8th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Tuesday, April 8th. THOR Industries’s dividend payout ratio (DPR) is 53.05%.

Analyst Ratings Changes

A number of analysts have issued reports on THO shares. BMO Capital Markets decreased their price target 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. Wall Street Zen upgraded THOR Industries from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. KeyCorp increased their target price on shares of THOR Industries from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Friday, May 30th. Bank of America raised shares of THOR Industries from a “neutral” rating to a “buy” rating and lifted their price target for the company from $110.00 to $125.00 in a research report on Monday, March 3rd. Finally, DA Davidson raised shares of THOR Industries to a “hold” rating in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $89.14.

Institutional Investors Weigh In On THOR Industries

Institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. grew its position in shares of THOR Industries by 22.1% during the 4th quarter. Blue Trust Inc. now owns 669 shares of the construction company’s stock worth $64,000 after buying an additional 121 shares during the period. KBC Group NV boosted its stake in THOR Industries by 39.0% during the 4th quarter. KBC Group NV now owns 2,165 shares of the construction company’s stock worth $207,000 after acquiring an additional 607 shares during the last quarter. Old North State Wealth Management LLC grew its holdings in THOR Industries by 3.7% during the fourth quarter. Old North State Wealth Management LLC now owns 10,907 shares of the construction company’s stock valued at $1,045,000 after purchasing an additional 393 shares during the period. Choreo LLC increased its stake in THOR Industries by 14.7% in the fourth quarter. Choreo LLC now owns 356,662 shares of the construction company’s stock valued at $34,092,000 after purchasing an additional 45,648 shares in the last quarter. Finally, Stonebridge Financial Group LLC acquired a new stake in THOR Industries in the fourth quarter worth $51,000. Institutional investors own 96.71% of the company’s stock.

THOR Industries Trading Up 3.0%

The company has a market capitalization of $4.51 billion, a P/E ratio of 22.09, a PEG ratio of 1.16 and a beta of 1.26. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.71 and a quick ratio of 0.78. The business’s 50-day moving average price is $75.27 and its two-hundred day moving average price is $90.23.

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.