On September 15, 2023, Truist Securities reiterated coverage of Thor Industries (NYSE:THO) with a Hold recommendation.
Analyst Price Forecast Suggests 6.13% Downside
As of August 31, 2023, the average one-year price target for Thor Industries is $93.43. The forecasts range from a low of $72.72 to a high of $120.75. The average price target represents a decrease of 6.13% from its latest reported closing price of $99.53.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Thor Industries is $11,922MM, a decrease of 2.32%. The projected annual non-GAAP EPS is $7.90.
Thor Industries Declares $0.45 Dividend
On June 22, 2023 the company declared a regular quarterly dividend of $0.45 per share ($1.80 annualized). Shareholders of record as of July 7, 2023 received the payment on July 21, 2023. Previously, the company paid $0.45 per share.
At the current share price of $99.53/share, the stock’s dividend yield is 1.81%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.06%, the lowest has been 1.12%, and the highest has been 4.56%. The standard deviation of yields is 0.57 (n=236).
The current dividend yield is 0.43 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.17. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.12%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 783 funds or institutions reporting positions in Thor Industries. This is a decrease of 47 owner(s) or 5.66% in the last quarter. Average portfolio weight of all funds dedicated to THO is 0.23%, an increase of 7.10%. Total shares owned by institutions decreased in the last three months by 4.99% to 60,697K shares.
The put/call ratio of THO is 1.44, indicating a bearish outlook.
What are Other Shareholders Doing?
Kayne Anderson Rudnick Investment Management holds 5,144K shares representing 9.65% ownership of the company. In its prior filing, the firm reported owning 5,166K shares, representing a decrease of 0.42%. The firm increased its portfolio allocation in THO by 23.21% over the last quarter.
Royal London Asset Management holds 3,251K shares representing 6.10% ownership of the company. In its prior filing, the firm reported owning 2,650K shares, representing an increase of 18.47%. The firm increased its portfolio allocation in THO by 28.80% over the last quarter.
Harris Associates LP holds 3,009K shares representing 5.64% ownership of the company. In its prior filing, the firm reported owning 3,015K shares, representing a decrease of 0.20%. The firm increased its portfolio allocation in THO by 27.72% over the last quarter.
Capital Research Global Investors holds 2,496K shares representing 4.68% ownership of the company. No change in the last quarter.
SMCWX – SMALLCAP WORLD FUND INC holds 2,156K shares representing 4.04% ownership of the company. No change in the last quarter.
Thor Industries Background Information
(This description is provided by the company.)
THOR is the sole owner of operating subsidiaries that, combined, represent the world’s largest manufacturer of recreational vehicles.
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