THOR Industries (NYSE:THO) Sets New 52-Week Low – Here’s Why

THOR Industries, Inc. (NYSE:THO) hit a new 52-week low on Monday . The stock traded as low as $75.27 and last traded at $75.83, with a volume of 21530 shares. The stock had previously closed at $77.08.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. StockNews.com raised THOR Industries from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Benchmark reissued a “hold” rating on shares of THOR Industries in a research note on Tuesday, December 3rd. BMO Capital Markets reduced their price target on shares of THOR Industries from $120.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Truist Financial lowered their price objective on shares of THOR Industries from $110.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, March 6th. Finally, Bank of America raised shares of THOR Industries from a “neutral” rating to a “buy” rating and raised their target price for the stock from $110.00 to $125.00 in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $93.00.

THOR Industries Stock Up 1.0 %

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 $4.07 billion, a PE ratio of 19.58, a P/E/G ratio of 1.16 and a beta of 1.74. The business’s 50-day simple moving average is $93.05 and its 200 day simple moving average is $100.89.

THOR Industries (NYSE:THO) last issued its quarterly earnings data on Wednesday, March 5th. The construction company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.08). The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.98 billion. THOR Industries had a net margin of 2.17% and a return on equity of 5.97%. The business’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.13 earnings per share. As a group, equities research analysts expect that THOR Industries, Inc. will post 4.64 earnings per share for the current year.

THOR Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 8th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Tuesday, April 8th. THOR Industries’s dividend payout ratio (DPR) is currently 53.05%.

Hedge Funds Weigh In On THOR Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of THOR Industries by 8.0% during the 3rd quarter. FMR LLC now owns 29,716 shares of the construction company’s stock worth $3,265,000 after acquiring an additional 2,205 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in THOR Industries by 8.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,884 shares of the construction company’s stock worth $1,306,000 after purchasing an additional 949 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of THOR Industries by 46.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 501,479 shares of the construction company’s stock worth $55,108,000 after purchasing an additional 159,022 shares in the last quarter. Captrust Financial Advisors increased its position in shares of THOR Industries by 21.1% during the third quarter. Captrust Financial Advisors now owns 2,992 shares of the construction company’s stock worth $329,000 after purchasing an additional 521 shares in the last quarter. Finally, Aureus Asset Management LLC purchased a new stake in shares of THOR Industries during the 3rd quarter valued at $230,000. Hedge funds and other institutional investors 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.