Price Action Don’t Lie: Time to Buy Thor Industries, Inc. After Today’s Gap Up?

Price Action Don't Lie: Time to Buy Thor Industries, Inc. After Today's Gap Up?

The stock of Thor Industries, Inc. (NYSE:THO) gapped up by $6.07 today and has $106.93 target or 5.00% above today’s $101.84 share price. The 7 months technical chart setup indicates low risk for the $5.34B company. The gap was reported on Nov, 29 by Barchart.com. If the $106.93 price target is reached, the company will be worth $267.00 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 12.61% or $11.4 during the last trading session, hitting $101.84. About 5.27 million shares traded hands or 727.84% up from the average. Thor Industries, Inc. (NYSE:THO) has risen 41.05% since April 26, 2016 and is uptrending. It has outperformed by 35.79% the S&P500.

Analysts await Thor Industries, Inc. (NYSE:THO) to report earnings on December, 5. They expect $1.23 earnings per share, up 26.80% or $0.26 from last year’s $0.97 per share. THO’s profit will be $64.50 million for 20.70 P/E if the $1.23 EPS becomes a reality. After $1.57 actual earnings per share reported by Thor Industries, Inc. for the previous quarter, Wall Street now forecasts -21.66% negative EPS growth.

Thor Industries, Inc. (NYSE:THO) Ratings Coverage

Out of 8 analysts covering Thor Industries Inc (NYSE:THO), 5 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 63% are positive. Thor Industries Inc has been the topic of 11 analyst reports since September 29, 2015 according to StockzIntelligence Inc. Great Lakes upgraded the stock to “Buy” rating in Wednesday, September 28 report. The rating was upgraded by Northcoast on Tuesday, September 13 to “Buy”. Citigroup maintained the shares of THO in a report on Thursday, March 24 with “Buy” rating. The company was downgraded on Wednesday, June 8 by BMO Capital Markets. Wunderlich downgraded Thor Industries, Inc. (NYSE:THO) rating on Friday, August 19. Wunderlich has “Hold” rating and $80 price target. The firm has “Outperform” rating by BMO Capital Markets given on Tuesday, September 29. On Wednesday, December 2 the stock rating was downgraded by Gabelli to “Hold”. The stock of Thor Industries, Inc. (NYSE:THO) earned “Buy” rating by Wunderlich on Tuesday, June 7. The firm has “Buy” rating given on Wednesday, September 28 by Wellington Shields. Citigroup maintained the shares of THO in a report on Friday, October 2 with “Buy” rating.

According to Zacks Investment Research, “Thor Industries manufactures a wide range of recreational vehicles (RVs) at various manufacturing facilities located in Indiana and Ohio and sold through independent dealers in the U.S. and Canada.”

Insitutional Activity: The institutional sentiment decreased to 1 in Q2 2016. Its down 0.37, from 1.37 in 2016Q1. The ratio turned negative, as 17 funds sold all Thor Industries, Inc. shares owned while 111 reduced positions. 51 funds bought stakes while 124 increased positions. They now own 43.86 million shares or 10.97% less from 49.27 million shares in 2016Q1.
Mutual Of America Mngmt Ltd Liability Com, a New York-based fund reported 33,927 shares. Gw Henssler & Ltd last reported 0.02% of its portfolio in the stock. Putnam Invs Ltd Limited Liability Company has invested 0% of its portfolio in Thor Industries, Inc. (NYSE:THO). Bokf Na holds 0.05% of its portfolio in Thor Industries, Inc. (NYSE:THO) for 22,532 shares. Moreover, First Utd Fincl Bank Tru has 0.25% invested in Thor Industries, Inc. (NYSE:THO) for 4,455 shares. Capstone Inv Advisors Ltd has 0.05% invested in the company for 38,400 shares. Geode Cap Mngmt Lc last reported 0.01% of its portfolio in the stock. Country Bancorporation holds 0% of its portfolio in Thor Industries, Inc. (NYSE:THO) for 200 shares. Tower Research Cap Lc (Trc) last reported 797 shares in the company. Grantham Mayo Van Otterloo Co Ltd Liability holds 234,207 shares or 0.06% of its portfolio. Umb Bancshares N A Mo last reported 0.02% of its portfolio in the stock. Paloma Ptnrs Mgmt has 11,514 shares for 0.01% of their US portfolio. Neumeier Poma Invest Counsel Ltd Llc owns 163,860 shares or 1.68% of their US portfolio. First Citizens Retail Bank &, a North Carolina-based fund reported 7,378 shares. Globeflex Capital Lp reported 26,990 shares or 0.48% of all its holdings.

Insider Transactions: Since September 29, 2016, the stock had 0 insider buys, and 1 insider sale for $400,360 net activity. On Thursday, September 29 the insider ORTHWEIN PETER BUSCH sold $400,360.

More notable recent Thor Industries, Inc. (NYSE:THO) news were published by: Fool.com which released: “Why Thor Industries, Inc. Stock Popped Today” on November 29, 2016, also Forbes.com with their article: “An Interview With Bob Martin, President And CEO Of Thor Industries, Inc.” published on October 31, 2016, Forbes.com published: “Thor Industries Enters Oversold Territory” on November 03, 2016. More interesting news about Thor Industries, Inc. (NYSE:THO) were released by: Nasdaq.com and their article: “Mid-Afternoon Market Update: Crude Oil Down 3.5%; Thor Industries Shares Surge …” published on November 29, 2016 as well as Prnewswire.com‘s news article titled: “Thor Announces Amended Omnibus Stock Plan” with publication date: November 23, 2016.

THO Company Profile

Thor Industries, Inc., incorporated on July 26, 1983, makes a range of recreational vehicles (RVs) in the United States and sells those vehicles primarily throughout the United States and Canada, as well as related parts and accessories. The Company’s divisions include towable recreational vehicles, motorized recreational vehicles and Other. The towable recreational vehicle segment includes the activities of Airstream, Inc. (Airstream) (towable); Heartland Recreational Vehicles, LLC (Heartland) (including Bison Coach, LLC (Bison), Cruiser RV, LLC (CRV) and DRV, LLC (DRV)); Jayco, Corp. (Jayco) (including Jayco towable, Starcraft and Highland Ridge), Keystone RV Company (Keystone) (including CrossRoads and Dutchmen) and K.Z., Inc. (KZ) (including Livin’ Lite RV, Inc. (Livin’ Lite)). The motorized recreational vehicle segment includes the activities of Airstream (motorized), Jayco (including Jayco motorized and Entegra Coach) and Thor Motor Coach, Inc. (Thor Motor Coach). The Company’s Other segment includes the activities of its subsidiary, Postle Operating, LLC (Postle).

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Comment