THOR Industries (NYSE:THO) Sets New 1-Year Low After Earnings Miss

THOR Industries, Inc. (NYSE:THO)’s stock price reached a new 52-week low on Wednesday following a dissappointing earnings announcement. The company traded as low as $86.60 and last traded at $80.30, with a volume of 3372 shares traded. The stock had previously closed at $95.23.

The construction company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06). The company 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%. The company’s quarterly revenue was down 8.6% on a year-over-year basis. During the same period last year, the business posted $0.13 earnings per share.

THOR Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Monday, January 6th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Monday, January 6th. THOR Industries’s dividend payout ratio (DPR) is 51.15%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Benchmark restated a “hold” rating on shares of THOR Industries in a report on Tuesday, December 3rd. Bank of America upgraded THOR Industries from a “neutral” rating to a “buy” rating and upped their price objective for the company from $110.00 to $125.00 in a research report on Monday. Truist Financial lifted their price objective on THOR Industries from $98.00 to $110.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. Finally, StockNews.com raised shares of THOR Industries from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, THOR Industries has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Institutional Trading of THOR Industries

Institutional investors have recently made changes to their positions in the stock. Atala Financial Inc purchased a new position in shares of THOR Industries in the 4th quarter worth about $27,000. Van ECK Associates Corp purchased a new position in THOR Industries in the third quarter valued at about $32,000. First Horizon Advisors Inc. raised its position in THOR Industries by 57.3% in the fourth quarter. First Horizon Advisors Inc. now owns 332 shares of the construction company’s stock valued at $32,000 after purchasing an additional 121 shares during the period. Brooklyn Investment Group acquired a new stake in THOR Industries in the third quarter valued at approximately $38,000. Finally, Brown Brothers Harriman & Co. raised its stake in shares of THOR Industries by 369.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 418 shares of the construction company’s stock valued at $40,000 after purchasing an additional 329 shares during the period. 96.71% of the stock is owned by hedge funds and other institutional investors.

THOR Industries Trading Down 14.5 %

The business’s 50-day moving average price is $99.82 and its 200 day moving average price is $104.25. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.71 and a quick ratio of 0.78. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 1.16 and a beta of 1.69.

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.