THOR Industries (NYSE:THO) Lowered to Neutral Rating by Robert W. Baird

Robert W. Baird cut shares of THOR Industries (NYSE:THO - Free Report) from an outperform rating to a neutral rating in a research note published on Friday morning, Marketbeat reports. They currently have $85.00 price target on the construction company's stock, down from their previous price target of $100.00.

Other equities analysts have also recently issued reports about the company. Citigroup cut THOR Industries from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $94.00 to $86.00 in a report on Wednesday, March 19th. KeyCorp reissued an "underweight" rating and issued a $65.00 price target on shares of THOR Industries in a research note on Thursday, March 20th. Bank of America raised shares of 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 note on Monday, March 3rd. DA Davidson dropped their target price on shares of THOR Industries from $95.00 to $80.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Finally, BMO Capital Markets reduced their price target on shares of THOR Industries from $120.00 to $105.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $90.86.

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THOR Industries Price Performance

NYSE:THO traded up $0.30 during mid-day trading on Friday, reaching $71.33. 1,180,554 shares of the stock were exchanged, compared to its average volume of 599,709. 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 business has a fifty day moving average price of $91.38 and a 200 day moving average price of $100.26. THOR Industries has a 1-year low of $66.00 and a 1-year high of $118.85. The firm has a market capitalization of $3.80 billion, a PE ratio of 18.24, a PEG ratio of 1.16 and a beta of 1.59.

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

THOR Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 8th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, April 8th. This represents a $2.00 annualized dividend and a yield of 2.80%. THOR Industries's dividend payout ratio is presently 53.05%.

Hedge Funds Weigh In On THOR Industries

Institutional investors and hedge funds have recently modified their holdings of the stock. ACR Alpine Capital Research LLC boosted its position in THOR Industries by 40.6% during the fourth quarter. ACR Alpine Capital Research LLC now owns 2,142,966 shares of the construction company's stock valued at $205,103,000 after purchasing an additional 619,318 shares during the last quarter. Timucuan Asset Management Inc. FL raised its stake in shares of THOR Industries by 16.2% during the 4th quarter. Timucuan Asset Management Inc. FL now owns 2,038,765 shares of the construction company's stock worth $195,130,000 after purchasing an additional 283,744 shares in the last quarter. State Street Corp lifted its holdings in shares of THOR Industries by 2.1% during the 3rd quarter. State Street Corp now owns 1,624,002 shares of the construction company's stock valued at $178,462,000 after buying an additional 33,619 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of THOR Industries by 37.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,502,208 shares of the construction company's stock valued at $165,078,000 after buying an additional 411,466 shares during the last quarter. Finally, Madison Investment Advisors LLC bought a new stake in shares of THOR Industries in the 4th quarter valued at approximately $95,688,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

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.