THOR Industries (NYSE:THO) Hits New 52-Week Low – Here’s What Happened

THOR Industries, Inc. (NYSE:THO)’s share price hit a new 52-week low on Monday . The company 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.

Analyst Ratings Changes

Several research analysts have commented on the company. Citigroup lowered THOR Industries from a “buy” rating to a “neutral” rating and cut their price objective for the company from $94.00 to $86.00 in a research report on Wednesday, March 19th. Benchmark reiterated a “hold” rating on shares of THOR Industries in a report on Tuesday, December 3rd. Bank of America upgraded THOR Industries from a “neutral” rating to a “buy” rating and upped their price target for the stock from $110.00 to $125.00 in a report on Monday, March 3rd. KeyCorp reiterated an “underweight” rating and set a $65.00 price objective on shares of THOR Industries in a research note on Thursday, March 20th. Finally, Truist Financial decreased their target price on shares of THOR Industries from $110.00 to $90.00 and set a “hold” rating for the company in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, THOR Industries currently has an average rating of “Hold” and a consensus target price of $93.00.

THOR Industries Price Performance

The company has a quick ratio of 0.78, a current ratio of 1.71 and a debt-to-equity ratio of 0.26. The company has a 50 day simple moving average of $94.11 and a 200-day simple moving average of $101.23. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.16 and a beta of 1.74.

THOR Industries (NYSE:THO) last posted its quarterly earnings results 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 firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.98 billion. THOR Industries had a net margin of 2.17% and a return on equity of 5.97%. The business’s revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.13 earnings per share. As a group, research analysts anticipate that THOR Industries, Inc. will post 4.64 EPS for the current fiscal year.

THOR Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 8th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Tuesday, April 8th. THOR Industries’s dividend payout ratio (DPR) is presently 53.05%.

Institutional Investors Weigh In On THOR Industries

Several institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in shares of THOR Industries by 37.7% during the third quarter. JPMorgan Chase & Co. now owns 1,502,208 shares of the construction company’s stock valued at $165,078,000 after purchasing an additional 411,466 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in THOR Industries by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 611,890 shares of the construction company’s stock valued at $58,564,000 after purchasing an additional 10,455 shares during the period. State Street Corp grew its stake in THOR Industries by 2.1% during the 3rd quarter. State Street Corp now owns 1,624,002 shares of the construction company’s stock worth $178,462,000 after buying an additional 33,619 shares during the last quarter. Salvus Wealth Management LLC increased its position in THOR Industries by 19.4% in the fourth quarter. Salvus Wealth Management LLC now owns 42,168 shares of the construction company’s stock worth $4,036,000 after buying an additional 6,838 shares during the period. Finally, Amundi lifted its stake in THOR Industries by 26.2% in the fourth quarter. Amundi now owns 4,354 shares of the construction company’s stock valued at $415,000 after buying an additional 905 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

THOR Industries Company Profile

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.