Thor Industries (NYSE:THO) Rating Lowered to Sell at ValuEngine

Thor Industries (NYSE:THO) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Wednesday, ValuEngine reports.

Several other equities research analysts have also recently weighed in on the company. Northcoast Research cut Thor Industries from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 1st. They noted that the move was a valuation call. Sidoti increased their price target on shares of Thor Industries from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Citigroup cut their price objective on shares of Thor Industries from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Robert W. Baird restated a “reduce” rating and set a $65.00 price objective (up previously from $60.00) on shares of Thor Industries in a research report on Tuesday, October 1st. Finally, Zacks Investment Research upgraded shares of Thor Industries from a “sell” rating to a “hold” rating in a report on Friday, October 4th. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $67.44.

Thor Industries stock traded down $1.38 during midday trading on Wednesday, reaching $63.40. The company’s stock had a trading volume of 580,547 shares, compared to its average volume of 914,043. The company has a market cap of $3.59 billion, a P/E ratio of 12.24, a P/E/G ratio of 0.99 and a beta of 1.97. The company has a quick ratio of 0.84, a current ratio of 1.41 and a debt-to-equity ratio of 0.90. The business has a 50-day simple moving average of $61.31 and a 200-day simple moving average of $56.13. Thor Industries has a fifty-two week low of $42.05 and a fifty-two week high of $71.66.

Thor Industries (NYSE:THO) last released its quarterly earnings data on Monday, September 30th. The construction company reported $1.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.27. Thor Industries had a return on equity of 15.50% and a net margin of 1.69%. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the firm posted $1.67 EPS. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. As a group, equities analysts forecast that Thor Industries will post 5.63 earnings per share for the current year.

In other news, insider Robert W. Martin purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were purchased at an average price of $58.82 per share, for a total transaction of $588,200.00. Following the purchase, the insider now directly owns 220,175 shares of the company’s stock, valued at approximately $12,950,693.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.00% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SFE Investment Counsel boosted its holdings in shares of Thor Industries by 30.0% in the second quarter. SFE Investment Counsel now owns 76,602 shares of the construction company’s stock valued at $4,477,000 after acquiring an additional 17,698 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its stake in Thor Industries by 5.2% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 15,700 shares of the construction company’s stock worth $889,000 after purchasing an additional 781 shares during the period. Dupont Capital Management Corp grew its position in Thor Industries by 6.6% during the 2nd quarter. Dupont Capital Management Corp now owns 51,360 shares of the construction company’s stock worth $3,002,000 after purchasing an additional 3,184 shares during the last quarter. ACG Wealth grew its position in Thor Industries by 168.2% during the 2nd quarter. ACG Wealth now owns 17,990 shares of the construction company’s stock worth $1,051,000 after purchasing an additional 11,283 shares during the last quarter. Finally, Alps Advisors Inc. grew its position in Thor Industries by 17.2% during the 2nd quarter. Alps Advisors Inc. now owns 12,108 shares of the construction company’s stock worth $708,000 after purchasing an additional 1,778 shares during the last quarter. 88.31% of the stock is currently owned by institutional investors.

About Thor Industries

Thor Industries, Inc, through its subsidiaries, designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories primarily in the United States and Canada. It operates in two segments, Towable Recreational Vehicles and Motorized Recreational Vehicles. The company offers travel trailers under the Airstream Classic, International, Tommy Bahama, Flying Cloud, Sport, Basecamp, and Nest travel trade names, as well as Interstate series of Class B motorhomes; and gasoline and diesel Class A and Class C motorhomes under the Four Winds, Freedom Elite, Majestic, Hurricane, Chateau, Windsport, Axis, Vegas, Tuscany, Palazzo, Aria, Quantum, Compass, Gemini, and A.C.E trade names.

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