Thor Industries (NYSE:THO) Declares Share Buyback Program

Thor Industries (NYSE:THO) announced that its board has initiated a stock buyback program on Monday, June 23rd, RTT News reports. The company plans to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 8.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

THO has been the topic of a number of research reports. Bank of America upgraded Thor Industries from a “neutral” rating to a “buy” rating and upped their target price for the company from $110.00 to $125.00 in a report on Monday, March 3rd. Baird R W downgraded Thor Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Roth Capital set a $77.00 price objective on Thor Industries and gave the stock a “neutral” rating in a report on Monday, June 9th. Citigroup downgraded Thor Industries from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $94.00 to $86.00 in a report on Wednesday, March 19th. Finally, DA Davidson upgraded Thor Industries to a “hold” rating in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $87.63.

Thor Industries Trading Up 1.9%

NYSE:THO traded up $1.60 on Monday, hitting $86.96. 463,616 shares of the stock were exchanged, compared to its average volume of 666,893. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of 20.85, a P/E/G ratio of 1.78 and a beta of 1.21. Thor Industries has a 52 week low of $63.16 and a 52 week high of $118.85. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.71. The company’s 50-day moving average price is $79.55 and its 200 day moving average price is $87.84.

Thor Industries (NYSE:THO) last posted its earnings results on Wednesday, June 4th. The construction company reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.74. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.60 billion. Thor Industries had a return on equity of 5.84% and a net margin of 2.32%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.13 EPS. On average, equities research analysts forecast that Thor Industries will post 4.64 earnings per share for the current year.

Thor Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 2.30%. Thor Industries’s dividend payout ratio is presently 47.96%.

Insider Buying and Selling at Thor Industries

In other news, Director Peter Busch Orthwein bought 3,000 shares of the business’s stock in a transaction on Friday, June 20th. The shares were purchased at an average price of $85.40 per share, for a total transaction of $256,200.00. Following the purchase, the director now owns 136,400 shares of the company’s stock, valued at approximately $11,648,560. The trade was a 2.25% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.50% 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.