THOR Industries (NYSE:THO) Raised to Hold at StockNews.com

StockNews.com upgraded shares of THOR Industries (NYSE:THO - Free Report) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

Other research analysts have also issued research reports about the company. Citigroup boosted their price objective on THOR Industries from $119.00 to $124.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Bank of America initiated coverage on shares of THOR Industries in a research report on Friday, December 13th. They set a "neutral" rating and a $120.00 price objective on the stock. DA Davidson reissued a "neutral" rating and issued a $95.00 target price on shares of THOR Industries in a research note on Monday, September 30th. BMO Capital Markets reaffirmed an "outperform" rating and set a $120.00 price target on shares of THOR Industries in a research note on Thursday, September 19th. Finally, Truist Financial increased their price objective on THOR Industries from $95.00 to $105.00 and gave the company a "hold" rating in a research report on Friday, September 20th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $112.33.

THOR Industries Price Performance

Shares of THOR Industries stock traded up $2.11 during trading on Friday, hitting $96.62. The stock had a trading volume of 279,269 shares, compared to its average volume of 279,135. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 24.71 and a beta of 1.68. THOR Industries has a 12 month low of $88.37 and a 12 month high of $129.31. The business's 50-day moving average is $105.06 and its 200 day moving average is $103.19. The company has a current ratio of 1.71, a quick ratio of 0.78 and a debt-to-equity ratio of 0.26.

THOR Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, January 6th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Monday, January 6th. THOR Industries's dividend payout ratio is presently 51.15%.

Insider Buying and Selling

In other THOR Industries news, VP Colleen A. Zuhl sold 4,354 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $115.00, for a total transaction of $500,710.00. Following the completion of the sale, the vice president now owns 131,905 shares of the company's stock, valued at $15,169,075. This represents a 3.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On THOR Industries

A number of hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of THOR Industries by 37.7% in the third quarter. JPMorgan Chase & Co. now owns 1,502,208 shares of the construction company's stock worth $165,078,000 after purchasing an additional 411,466 shares during the last quarter. Natixis Advisors LLC grew its position in shares of THOR Industries by 51.3% in the 3rd quarter. Natixis Advisors LLC now owns 504,922 shares of the construction company's stock worth $55,486,000 after buying an additional 171,244 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of THOR Industries by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,901,024 shares of the construction company's stock valued at $271,097,000 after buying an additional 187,019 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in shares of THOR Industries by 12.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 387,189 shares of the construction company's stock valued at $36,183,000 after acquiring an additional 43,326 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of THOR Industries by 2.1% during the third quarter. State Street Corp now owns 1,624,002 shares of the construction company's stock valued at $178,462,000 after acquiring an additional 33,619 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company's stock.

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.