Shares of Thor Industries Inc. (NYSE:THO) saw strong trading volume on Monday following a stronger than expected earnings report. 1,128,419 shares traded hands during mid-day trading, an increase of 44% from the previous session’s volume of 784,932 shares.The stock last traded at $82.73 and had previously closed at $81.67.
The company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.33 by $0.24. The company earned $1.29 billion during the quarter, compared to the consensus estimate of $1.27 billion. Thor Industries had a net margin of 5.58% and a return on equity of 22.26%. The company’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.31 EPS.
Several analysts have recently commented on the stock. Wellington Shields raised shares of Thor Industries from a “hold” rating to a “gradually accumulate” rating in a research report on Monday, June 27th. Zacks Investment Research raised shares of Thor Industries from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research report on Thursday, June 9th. SunTrust Banks Inc. raised shares of Thor Industries from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $65.00 to $90.00 in a research report on Friday, July 29th. Wunderlich lifted their price target on shares of Thor Industries from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, June 7th. Finally, BMO Capital Markets downgraded shares of Thor Industries from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $72.00 to $67.00 in a research report on Wednesday, June 8th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Thor Industries has an average rating of “Hold” and a consensus target price of $77.29.
A number of institutional investors have recently bought and sold shares of THO. Mason Street Advisors LLC purchased a new position in Thor Industries during the second quarter worth about $1,348,000. Beacon Trust Co. purchased a new position in Thor Industries during the second quarter worth about $2,267,000. Royal Bank of Canada increased its position in Thor Industries by 53.8% in the second quarter. Royal Bank of Canada now owns 94,609 shares of the company’s stock worth $6,125,000 after buying an additional 33,088 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Thor Industries by 0.3% in the second quarter. Public Employees Retirement System of Ohio now owns 52,798 shares of the company’s stock worth $3,418,000 after buying an additional 145 shares in the last quarter. Finally, Sterling Capital Management LLC increased its position in Thor Industries by 2.7% in the second quarter. Sterling Capital Management LLC now owns 353,091 shares of the company’s stock worth $22,859,000 after buying an additional 9,214 shares in the last quarter. 85.69% of the stock is currently owned by hedge funds and other institutional investors.
The stock has a 50-day moving average price of $79.73 and a 200-day moving average price of $69.50. The stock has a market cap of $4.34 billion, a PE ratio of 17.96 and a beta of 1.17.
About Thor Industries
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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