Trade Report: The Thor Industries Inc. (THO) Rating Reiterated by Argus

The Thor Industries Inc. (THO) Rating Reiterated by Argus

Thor Industries Inc. (NYSE:THO)‘s stock had its “buy” rating reiterated by analysts at Argus in a research note issued on Sunday. They presently have a $92.00 price target on the stock. Argus’ price objective points to a potential upside of 8.43% from the company’s previous close.

THO has been the subject of a number of other reports. Wellington Shields upgraded Thor Industries from a “hold” rating to a “gradually accumulate” rating in a research note on Monday, June 27th. SunTrust Banks Inc. upgraded Thor Industries from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $65.00 to $90.00 in a research note on Friday, July 29th. BMO Capital Markets restated a “hold” rating on shares of Thor Industries in a research note on Wednesday, September 28th. Zacks Investment Research upgraded Thor Industries from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research note on Thursday. Finally, Wunderlich cut Thor Industries from a “buy” rating to a “hold” rating and set a $80.00 price objective for the company. in a research note on Friday, August 19th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $80.63.

Shares of Thor Industries (NYSE:THO) opened at 84.85 on Friday. The firm’s 50 day moving average price is $81.75 and its 200-day moving average price is $70.93. Thor Industries has a 1-year low of $47.56 and a 1-year high of $87.08. The company has a market capitalization of $4.45 billion, a P/E ratio of 17.38 and a beta of 1.26.

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Thor Industries (NYSE:THO) last issued its quarterly earnings data on Monday, September 26th. The company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.24. The firm earned $1.29 billion during the quarter. Thor Industries had a return on equity of 22.50% and a net margin of 5.60%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.31 earnings per share. Analysts expect that Thor Industries will post $5.89 EPS for the current year.

In other news, Chairman Peter Busch Orthwein sold 4,672 shares of the stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $85.69, for a total value of $400,343.68. Following the transaction, the chairman now directly owns 1,400,252 shares of the company’s stock, valued at $119,987,593.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.80% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its position in shares of Thor Industries by 161.3% in the first quarter. Goldman Sachs Group Inc. now owns 410,690 shares of the company’s stock worth $26,190,000 after buying an additional 253,519 shares in the last quarter. State Street Corp raised its position in shares of Thor Industries by 2.8% in the first quarter. State Street Corp now owns 1,266,763 shares of the company’s stock worth $80,778,000 after buying an additional 33,973 shares in the last quarter. Springbok Capital Management LLC raised its position in shares of Thor Industries by 486.5% in the first quarter. Springbok Capital Management LLC now owns 10,100 shares of the company’s stock worth $644,000 after buying an additional 8,378 shares in the last quarter. Riverhead Capital Management LLC raised its position in shares of Thor Industries by 0.8% in the first quarter. Riverhead Capital Management LLC now owns 8,970 shares of the company’s stock worth $572,000 after buying an additional 70 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in shares of Thor Industries by 20.6% in the second quarter. Teacher Retirement System of Texas now owns 6,992 shares of the company’s stock worth $453,000 after buying an additional 1,196 shares in the last quarter. 85.69% of the stock is currently owned by institutional investors and hedge funds.

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