BMO Capital Markets Lowers Thor Industries (NYSE:THO) to Market Perform

BMO Capital Markets lowered shares of Thor Industries (NYSE:THO) from an outperform rating to a market perform rating in a research note released on Monday, February 4th, Marketbeat.com reports. They currently have $63.00 target price on the construction company’s stock.

Several other equities research analysts have also weighed in on THO. SunTrust Banks restated a buy rating and issued a $85.00 target price on shares of Thor Industries in a report on Thursday, December 6th. TD Securities reiterated a hold rating on shares of Thor Industries in a report on Monday, November 19th. Robert W. Baird reiterated a buy rating and set a $95.00 price target on shares of Thor Industries in a report on Monday, October 29th. Canaccord Genuity reiterated an average rating on shares of Thor Industries in a report on Tuesday, November 13th. Finally, ValuEngine upgraded Thor Industries from a strong sell rating to a sell rating in a report on Tuesday, January 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $100.00.

NYSE THO traded up $1.06 on Monday, hitting $65.63. 645,264 shares of the company were exchanged, compared to its average volume of 697,852. Thor Industries has a twelve month low of $47.71 and a twelve month high of $129.39. The company has a market cap of $3.69 billion, a PE ratio of 7.68 and a beta of 1.74.

Thor Industries (NYSE:THO) last released its earnings results on Thursday, December 6th. The construction company reported $1.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.67 by ($0.39). Thor Industries had a net margin of 4.02% and a return on equity of 21.09%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the firm earned $2.43 EPS. The company’s revenue was down 21.3% compared to the same quarter last year. On average, research analysts forecast that Thor Industries will post 5.7 earnings per share for the current fiscal year.

In related news, Chairman Peter Busch Orthwein sold 5,028 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $69.63, for a total value of $350,099.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jan Suwinski acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 11th. The stock was purchased at an average price of $58.20 per share, with a total value of $116,400.00. Following the completion of the acquisition, the director now owns 18,263 shares in the company, valued at $1,062,906.60. The disclosure for this purchase can be found here. 4.20% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC grew its stake in Thor Industries by 62.2% in the 4th quarter. FMR LLC now owns 272,928 shares of the construction company’s stock worth $14,192,000 after acquiring an additional 104,614 shares in the last quarter. Lake Point Wealth Management bought a new position in Thor Industries in the 4th quarter worth about $140,000. Nordea Investment Management AB grew its stake in Thor Industries by 16.7% in the 4th quarter. Nordea Investment Management AB now owns 69,657 shares of the construction company’s stock worth $3,623,000 after acquiring an additional 9,970 shares in the last quarter. Amalgamated Bank grew its stake in Thor Industries by 45.9% in the 4th quarter. Amalgamated Bank now owns 11,439 shares of the construction company’s stock worth $595,000 after acquiring an additional 3,601 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Thor Industries by 15.1% in the 4th quarter. Millennium Management LLC now owns 141,253 shares of the construction company’s stock worth $7,345,000 after acquiring an additional 18,543 shares in the last quarter. Institutional investors own 87.53% of the company’s stock.

Thor Industries Company Profile

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

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Analyst Recommendations for Thor Industries (NYSE:THO)

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