THOR Industries (NYSE:THO) Rating Lowered to “Neutral” at Citigroup

THOR Industries (NYSE:THO) was downgraded by equities research analysts at Citigroup from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday,Finviz reports. They presently have a $86.00 price objective on the construction company’s stock, down from their previous price objective of $94.00. Citigroup’s price target would suggest a potential upside of 4.99% from the company’s current price.

Several other research analysts have also weighed in on the stock. Benchmark reiterated a “hold” rating on shares of THOR Industries in a report on Tuesday, December 3rd. 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 objective on shares of THOR Industries from $95.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Truist Financial cut their price objective on shares of THOR Industries from $110.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, March 6th. Finally, StockNews.com upgraded shares of THOR Industries from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $97.67.

THOR Industries Price Performance

NYSE:THO opened at $81.92 on Wednesday. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth 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. The company’s 50-day moving average is $96.97 and its two-hundred day moving average is $102.50. THOR Industries has a 12-month low of $75.78 and a 12-month high of $118.85.

THOR Industries (NYSE:THO) last released its earnings results on Wednesday, March 5th. The construction company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.98 billion. THOR Industries had a net margin of 2.17% and a return on equity of 5.97%. THOR Industries’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter last year, the company posted $0.13 earnings per share. Research analysts expect that THOR Industries will post 4.64 EPS for the current year.

Institutional Trading of THOR Industries

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in THOR Industries by 37.7% in the third quarter. JPMorgan Chase & Co. now owns 1,502,208 shares of the construction company’s stock valued at $165,078,000 after acquiring an additional 411,466 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in THOR Industries by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 611,890 shares of the construction company’s stock valued at $58,564,000 after acquiring an additional 10,455 shares in the last quarter. State Street Corp grew its position in THOR Industries by 2.1% in the third quarter. State Street Corp now owns 1,624,002 shares of the construction company’s stock valued at $178,462,000 after acquiring an additional 33,619 shares in the last quarter. Salvus Wealth Management LLC grew 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 valued at $4,036,000 after acquiring an additional 6,838 shares in the last quarter. Finally, FMR LLC grew its position in THOR Industries by 8.0% in the third quarter. FMR LLC now owns 29,716 shares of the construction company’s stock valued at $3,265,000 after acquiring an additional 2,205 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

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.