THOR Industries (NYSE:THO) Shares Gap Down – Here’s What Happened

THOR Industries, Inc. (NYSE:THO)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $81.80, but opened at $80.06. THOR Industries shares last traded at $80.69, with a volume of 61,638 shares.

Analyst Ratings Changes

A number of equities research analysts have recently commented on THO shares. Benchmark reaffirmed a “hold” rating on shares of THOR Industries in a research report on Tuesday, December 3rd. Citigroup downgraded shares of THOR Industries from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $94.00 to $86.00 in a research note on Wednesday. BMO Capital Markets cut their price objective on shares of THOR Industries from $120.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. DA Davidson cut their price target on shares of THOR Industries from $95.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Finally, Robert W. Baird lowered their price objective on shares of THOR Industries from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $97.67.

THOR Industries Trading Down 0.9 %

The business’s 50-day moving average is $96.97 and its two-hundred day moving average is $102.50. The stock has a market capitalization of $4.31 billion, a PE ratio of 20.78, a PEG ratio of 1.16 and a beta of 1.74. The company has a current ratio of 1.71, a quick ratio of 0.78 and a debt-to-equity ratio of 0.26.

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

THOR Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Monday, January 6th. THOR Industries’s dividend payout ratio (DPR) is 53.05%.

Hedge Funds Weigh In On THOR Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in THO. Venturi Wealth Management LLC lifted its stake in shares of THOR Industries by 1.7% in the fourth quarter. Venturi Wealth Management LLC now owns 6,312 shares of the construction company’s stock worth $604,000 after acquiring an additional 108 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of THOR Industries by 0.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 15,971 shares of the construction company’s stock valued at $1,529,000 after purchasing an additional 112 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of THOR Industries by 0.5% during the fourth quarter. Sanctuary Advisors LLC now owns 21,614 shares of the construction company’s stock worth $2,278,000 after buying an additional 113 shares in the last quarter. Blue Trust Inc. raised its holdings in THOR Industries by 22.1% in the fourth quarter. Blue Trust Inc. now owns 669 shares of the construction company’s stock valued at $64,000 after acquiring an additional 121 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in THOR Industries by 57.3% during the 4th quarter. First Horizon Advisors Inc. now owns 332 shares of the construction company’s stock worth $32,000 after acquiring an additional 121 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

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.