Thor Industries (NYSE:THO) Price Target Raised to $112.00 at Citigroup

Thor Industries (NYSE:THO) had its price objective lifted by Citigroup from $100.00 to $112.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the construction company’s stock.

THO has been the topic of a number of other research reports. Roth Capital set a $77.00 price objective on Thor Industries and gave the stock a “neutral” rating in a research note on Monday, June 9th. Bank of America raised their price objective on shares of Thor Industries from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday. Truist Financial raised their price objective on shares of Thor Industries from $86.00 to $115.00 and gave the stock a “hold” rating in a research report on Wednesday, September 3rd. Zacks Research upgraded shares of Thor Industries from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 3rd. Finally, KeyCorp upgraded shares of Thor Industries from an “underweight” rating to a “sector weight” rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Thor Industries has a consensus rating of “Hold” and an average price target of $94.88.

Thor Industries Stock Performance

NYSE THO opened at $105.02 on Friday. The stock’s fifty day moving average is $100.51 and its two-hundred day moving average is $87.50. The firm has a market capitalization of $5.59 billion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 2.20 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 fifty-two week low of $63.15 and a fifty-two week high of $118.85.

Thor Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, July 1st. Thor Industries’s dividend payout ratio (DPR) is 47.96%.

Thor Industries declared that its Board of Directors has authorized a stock buyback program on Monday, June 23rd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 8.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Peter Busch Orthwein bought 3,000 shares of the stock in a transaction on Friday, June 20th. The stock was bought at an average price of $85.40 per share, with a total value of $256,200.00. Following the completion of the purchase, the director directly owned 136,400 shares in the company, valued at $11,648,560. This represents a 2.25% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in THO. Hantz Financial Services Inc. boosted its stake in shares of Thor Industries by 2,463.6% in the second quarter. Hantz Financial Services Inc. now owns 282 shares of the construction company’s stock valued at $25,000 after purchasing an additional 271 shares during the period. Country Trust Bank boosted its stake in shares of Thor Industries by 50.0% in the second quarter. Country Trust Bank now owns 300 shares of the construction company’s stock valued at $27,000 after purchasing an additional 100 shares during the period. Curio Wealth LLC boosted its stake in shares of Thor Industries by 33,300.0% in the second quarter. Curio Wealth LLC now owns 334 shares of the construction company’s stock valued at $30,000 after purchasing an additional 333 shares during the period. MAI Capital Management boosted its stake in shares of Thor Industries by 174.8% in the second quarter. MAI Capital Management now owns 371 shares of the construction company’s stock valued at $33,000 after purchasing an additional 236 shares during the period. Finally, UMB Bank n.a. boosted its stake in shares of Thor Industries by 135.6% in the first quarter. UMB Bank n.a. now owns 483 shares of the construction company’s stock valued at $37,000 after purchasing an additional 278 shares during the period. Hedge funds and other institutional investors 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.