Keep an eye on rebounding shares of Thor Industries (THO).
After plummeting from about $102.50 to $65.49, THO is just starting to recover. Last trading at $89.72, we’d like to see the stock initially refill its bearish gap at around $102.50.
Helping, co-founder and former CEO Peter Orthwein bought 3,00o shares of the recreational vehicles company for $256,200. He paid an average of $85.40 a share. In addition, the company’s Board just reauthorized the repurchase up to $400 million of its stock. And it also declared a dividend of 50 cents per share, payable July 15 to shareholders of record as of July 1.
Fueling even more upside, analysts at Truist just increased their THO price target to $86 from $78 a share, with a hold rating. As noted by Investing.com, “The decision follows the company’s solid fiscal third-quarter performance and its reaffirmation of fiscal year 2025 guidance.”
Analysts at Keybanc also raised their price target to $65 from $60. “The revision follows the release of April’s Recreational Vehicle Industry Association (RVIA) shipment data, which prompted the firm to update its financial estimates for Thor Industries,” added Investing.com.
In fact, as noted by the RVIA, “RV shipments ended the month with 35,375 units, an increase of 3.4% compared to the 34,197 units shipped in April 2024. To date, RV shipments are up 10.9% with 133,223 units.”
Sincerely,
Ian Cooper
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