Citigroup Cuts Thor Industries (THO) Price Target to $130.00

Thor Industries (NYSE:THO) had its price objective trimmed by Citigroup from $150.00 to $130.00 in a research note published on Thursday. The brokerage currently has a buy rating on the construction company’s stock.

Several other equities analysts have also recently commented on THO. Northcoast Research reiterated a hold rating on shares of Thor Industries in a research note on Tuesday, February 27th. Stifel Nicolaus reiterated a hold rating and set a $142.00 target price (up from $132.00) on shares of Thor Industries in a research note on Thursday, March 8th. Aegis upgraded shares of Thor Industries from a hold rating to a buy rating and set a $113.00 target price for the company in a research note on Thursday, March 8th. They noted that the move was a valuation call. Argus upgraded shares of Thor Industries from a hold rating to a buy rating in a research note on Friday, March 16th. They noted that the move was a valuation call. Finally, BMO Capital Markets upgraded shares of Thor Industries from a market perform rating to an outperform rating and set a $102.00 target price for the company in a research note on Tuesday, May 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. Thor Industries has a consensus rating of Hold and an average target price of $121.33.

Thor Industries opened at $102.16 on Thursday, according to MarketBeat. The company has a quick ratio of 0.96, a current ratio of 1.67 and a debt-to-equity ratio of 0.04. The firm has a market cap of $5.53 billion, a P/E ratio of 14.41 and a beta of 1.30. Thor Industries has a 1 year low of $89.89 and a 1 year high of $161.48.

Thor Industries declared that its Board of Directors has initiated a share repurchase plan on Wednesday, June 20th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 4.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Monday, July 2nd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Friday, June 29th. Thor Industries’s dividend payout ratio is 20.87%.

Several hedge funds have recently made changes to their positions in THO. California Public Employees Retirement System raised its stake in shares of Thor Industries by 4.7% in the 4th quarter. California Public Employees Retirement System now owns 118,578 shares of the construction company’s stock valued at $17,872,000 after buying an additional 5,358 shares in the last quarter. Sei Investments Co. raised its stake in shares of Thor Industries by 30.4% in the 4th quarter. Sei Investments Co. now owns 89,050 shares of the construction company’s stock valued at $13,422,000 after buying an additional 20,773 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Thor Industries by 12.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 81,470 shares of the construction company’s stock valued at $12,279,000 after buying an additional 9,310 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Thor Industries by 27.3% in the 4th quarter. Arizona State Retirement System now owns 35,274 shares of the construction company’s stock valued at $5,316,000 after buying an additional 7,557 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of Thor Industries by 9.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 6,890 shares of the construction company’s stock valued at $1,039,000 after buying an additional 579 shares in the last quarter. Institutional investors own 88.68% of the company’s stock.

About Thor Industries

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

Analyst Recommendations for Thor Industries (NYSE:THO)

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