Thor Industries (NYSE:THO) Shares Gap Down After Earnings Miss

Thor Industries, Inc. (NYSE:THO)’s stock price gapped down before the market opened on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $77.54, but opened at $70.30. Thor Industries shares last traded at $76.41, with a volume of 133,043 shares traded.

The RV manufacturer reported $1.86 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.02). The business had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.67 billion. Thor Industries had a return on equity of 6.96% and a net margin of 3.02%.The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.53 earnings per share.

Thor Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 20th. Stockholders of record on Monday, April 6th were given a dividend of $0.52 per share. The ex-dividend date was Monday, April 6th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. Thor Industries’s dividend payout ratio (DPR) is presently 64.60%.

Analyst Ratings Changes

THO has been the topic of a number of research reports. Citigroup reduced their target price on shares of Thor Industries from $100.00 to $82.00 and set a “neutral” rating on the stock in a report on Wednesday, May 27th. Seaport Research Partners assumed coverage on Thor Industries in a research report on Monday, April 20th. They set a “neutral” rating for the company. BNP Paribas Exane initiated coverage on shares of Thor Industries in a research report on Monday, April 20th. They issued a “neutral” rating for the company. Wall Street Zen downgraded shares of Thor Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, BMO Capital Markets reduced their target price on shares of Thor Industries from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, April 17th. Three analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $108.11.

Insiders Place Their Bets

In other Thor Industries news, Director Peter Busch Orthwein acquired 2,600 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average cost of $88.25 per share, with a total value of $229,450.00. Following the completion of the purchase, the director directly owned 139,000 shares in the company, valued at $12,266,750. The trade was a 1.91% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Thor Industries

Large investors have recently modified their holdings of the business. Foster Dykema Cabot & Partners LLC bought a new position in shares of Thor Industries during the third quarter valued at approximately $27,000. V Square Quantitative Management LLC bought a new position in Thor Industries in the fourth quarter worth approximately $29,000. Curio Wealth LLC purchased a new stake in Thor Industries during the fourth quarter worth $36,000. Danske Bank A S bought a new stake in Thor Industries during the 3rd quarter valued at $41,000. Finally, eCIO Inc. bought a new stake in Thor Industries during the 4th quarter valued at $49,000. Institutional investors own 96.71% of the company’s stock.

Thor Industries Price Performance

The firm has a market capitalization of $4.02 billion, a PE ratio of 23.73, a P/E/G ratio of 1.55 and a beta of 1.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.73 and a current ratio of 1.76. The stock has a fifty day moving average price of $77.89 and a 200-day moving average price of $95.25.

About Thor Industries

Thor Industries, Inc is a leading manufacturer of recreational vehicles (RVs) and related components for the leisure travel market. Through its family of well-known brands—such as Airstream, Heartland, Jayco, Keystone RV and Thor Motor Coach—the company designs, manufactures and sells a broad range of motorized and towable RVs, complemented by aftermarket parts and service solutions. Thor offers products that span travel trailers, fifth wheels, toy haulers and Class A, B and C motorhomes, addressing both entry-level and premium segments.

Founded in 1980 when Wade Thompson and Peter Orthwein acquired Airstream from Beatrice Foods, Thor Industries has grown organically and through strategic acquisitions to become one of the largest RV producers in the world.