Citigroup Has Lowered Expectations for Thor Industries (NYSE:THO) Stock Price

Thor Industries (NYSE:THO) had its price target dropped by equities research analysts at Citigroup from $79.00 to $76.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the RV manufacturer’s stock. Citigroup’s price objective would indicate a potential upside of 7.41% from the stock’s current price.

Several other equities research analysts also recently issued reports on THO. Argus raised Thor Industries to a “hold” rating in a research note on Friday, June 12th. Bank of America dropped their target price on Thor Industries from $120.00 to $96.00 and set a “buy” rating on the stock in a report on Thursday, June 4th. BMO Capital Markets reduced their price target on shares of Thor Industries from $110.00 to $95.00 and set an “outperform” rating for the company in a research report on Tuesday. Zacks Research upgraded shares of Thor Industries from a “strong sell” rating to a “hold” rating in a report on Monday, August 24th. Finally, DA Davidson lowered their price objective on shares of Thor Industries from $100.00 to $80.00 and set a “neutral” rating on the stock in a research report on Monday, June 15th. Three equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $90.33.

Thor Industries Price Performance

Shares of NYSE:THO traded down $0.56 during trading on Wednesday, reaching $70.76. The company had a trading volume of 190,080 shares, compared to its average volume of 687,809. The firm’s fifty day moving average is $76.49 and its 200 day moving average is $78.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.80 and a current ratio of 1.71. The firm has a market capitalization of $3.68 billion, a PE ratio of 30.72, a price-to-earnings-growth ratio of 1.61 and a beta of 1.34. Thor Industries has a twelve month low of $69.71 and a twelve month high of $122.83.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Triad Investment Management lifted its holdings in shares of Thor Industries by 10.9% during the 2nd quarter. Triad Investment Management now owns 51,900 shares of the RV manufacturer’s stock valued at $3,901,000 after buying an additional 5,088 shares during the last quarter. Waverly Advisors LLC grew its stake in shares of Thor Industries by 4.4% in the 2nd quarter. Waverly Advisors LLC now owns 6,431 shares of the RV manufacturer’s stock valued at $483,000 after buying an additional 271 shares in the last quarter. Nykredit A S acquired a new position in Thor Industries in the second quarter worth approximately $229,000. Corient Private Wealth LP increased its holdings in Thor Industries by 32.5% in the second quarter. Corient Private Wealth LP now owns 34,935 shares of the RV manufacturer’s stock worth $2,626,000 after buying an additional 8,572 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Thor Industries during the second quarter valued at approximately $248,000. 96.71% of the stock is owned by institutional investors and hedge funds.

About Thor Industries

Thor Industries, Inc is a manufacturer of recreational vehicles (RVs) and related products. The company produces towable RVs, including travel trailers and fifth-wheel trailers, as well as motorized RVs such as Class A, Class B and Class C motorhomes. Its portfolio includes well-known brands such as Airstream, Jayco, Entegra Coach, Keystone, Dutchmen, Tiffin and CrossRoads.

Thor also owns Erwin Hymer Group, a major European recreational-vehicle manufacturer whose brands include HYMER, Dethleffs, Bürstner, LMC, Carado and Sunlight.