THOR Industries (NYSE:THO) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of THOR Industries (NYSE:THO) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Several other brokerages also recently weighed in on THO. BMO Capital Markets reissued an “outperform” rating and issued a $120.00 price target on shares of THOR Industries in a report on Thursday, September 19th. Bank of America initiated coverage on shares of THOR Industries in a research note on Friday, December 13th. They issued a “neutral” rating and a $120.00 target price for the company. Citigroup raised their price target on shares of THOR Industries from $119.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Truist Financial boosted their price objective on shares of THOR Industries from $95.00 to $105.00 and gave the company a “hold” rating in a report on Friday, September 20th. Finally, DA Davidson restated a “neutral” rating and issued a $95.00 target price on shares of THOR Industries in a research note on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $112.33.

THOR Industries Stock Performance

Shares of THO opened at $96.62 on Friday. The company has a current ratio of 1.71, a quick ratio of 0.78 and a debt-to-equity ratio of 0.26. The firm has a market cap of $5.14 billion, a PE ratio of 24.71 and a beta of 1.68. THOR Industries has a 12 month low of $88.37 and a 12 month high of $129.31. The stock has a fifty day moving average price of $105.06 and a 200-day moving average price of $103.19.

THOR Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, January 6th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, January 6th. This represents a $2.00 dividend on an annualized basis and a yield of 2.07%. THOR Industries’s dividend payout ratio is presently 51.15%.

Insiders Place Their Bets

In other news, VP Colleen A. Zuhl sold 4,354 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $115.00, for a total value of $500,710.00. Following the sale, the vice president now owns 131,905 shares in the company, valued at $15,169,075. This represents a 3.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On THOR Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in THOR Industries by 37.7% during the third quarter. JPMorgan Chase & Co. now owns 1,502,208 shares of the construction company’s stock worth $165,078,000 after buying an additional 411,466 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of THOR Industries by 51.3% during the 3rd quarter. Natixis Advisors LLC now owns 504,922 shares of the construction company’s stock worth $55,486,000 after acquiring an additional 171,244 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of THOR Industries by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,901,024 shares of the construction company’s stock valued at $271,097,000 after acquiring an additional 187,019 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of THOR Industries by 12.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 387,189 shares of the construction company’s stock valued at $36,183,000 after purchasing an additional 43,326 shares in the last quarter. Finally, State Street Corp raised its holdings in THOR Industries by 2.1% in the 3rd quarter. State Street Corp now owns 1,624,002 shares of the construction company’s stock worth $178,462,000 after purchasing an additional 33,619 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

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.