Thor Industries Inc. (THO) Sees Strong Trading Volume Following Earnings Beat
Shares of Thor Industries Inc. (NYSE:THO) saw unusually-high trading volume on Tuesday after the company announced better than expected quarterly earnings. Approximately 5,266,084 shares were traded during mid-day trading, an increase of 643% from the previous session’s volume of 708,322 shares.The stock last traded at $101.84 and had previously closed at $90.44.
The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.26. The firm had revenue of $1.71 billion for the quarter. Thor Industries had a return on equity of 24.38% and a net margin of 5.41%. The firm’s quarterly revenue was up 65.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 EPS.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 7th. Shareholders of record on Monday, October 24th were given a dividend of $0.33 per share. This is a boost from Thor Industries’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, October 20th. This represents a $1.32 annualized dividend and a yield of 1.31%. Thor Industries’s dividend payout ratio (DPR) is presently 24.44%.
Several research analysts have weighed in on the company. Vetr upgraded Thor Industries from a “buy” rating to a “strong-buy” rating and set a $93.65 price objective on the stock in a research report on Thursday, October 20th. Argus reiterated a “buy” rating and set a $92.00 price objective on shares of Thor Industries in a research report on Sunday, October 9th. BMO Capital Markets increased their price objective on Thor Industries from $80.00 to $102.00 and gave the stock a “market perform” rating in a research report on Tuesday. Zacks Investment Research upgraded Thor Industries from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a research report on Thursday, October 6th. Finally, Wunderlich cut Thor Industries from a “buy” rating to a “hold” rating and set a $80.00 price target on the stock. in a research report on Friday, August 19th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $86.18.
In related news, Chairman Peter Busch Orthwein sold 4,672 shares of the firm’s 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 sale, the chairman now directly owns 1,400,252 shares of the company’s stock, valued at $119,987,593.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 6.60% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in THO. Fox Run Management L.L.C. raised its stake in Thor Industries by 25.6% in the second quarter. Fox Run Management L.L.C. now owns 9,800 shares of the company’s stock valued at $634,000 after buying an additional 2,000 shares during the period. Cim LLC raised its stake in shares of Thor Industries by 0.7% in the second quarter. Cim LLC now owns 7,540 shares of the company’s stock worth $488,000 after buying an additional 50 shares during the last quarter. Eqis Capital Management Inc. raised its stake in shares of Thor Industries by 21.4% in the second quarter. Eqis Capital Management Inc. now owns 8,604 shares of the company’s stock worth $557,000 after buying an additional 1,519 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its stake in shares of Thor Industries by 1.0% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 190,788 shares of the company’s stock worth $12,352,000 after buying an additional 1,947 shares during the last quarter. Finally, Capstone Asset Management Co. raised its stake in shares of Thor Industries by 864.2% in the second quarter. Capstone Asset Management Co. now owns 34,642 shares of the company’s stock worth $2,243,000 after buying an additional 31,049 shares during the last quarter. 87.01% of the stock is currently owned by institutional investors and hedge funds.
The stock has a market cap of $5.28 billion, a PE ratio of 20.60 and a beta of 1.21. The company’s 50 day moving average price is $83.30 and its 200 day moving average price is $76.36.
Thor Industries Company Profile
Thor Industries, Inc (Thor), manufactures and sells various recreational vehicles (RV) throughout the United States and Canada, as well as related parts and accessories. The principal types of The Company’s towable recreational vehicles that the Company produces include conventional travel trailers and fifth wheels.
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