After Forming Bearish Double Bottom Pattern, Is Thor Industries, Inc. (THO)’s Near-Term Analysis Negative?

July 14, 2018 - By Elizabeth Bryant

Thor Industries, Inc. (NYSE:THO) Logo

Investors sentiment decreased to 0.96 in Q1 2018. Its down 0.20, from 1.16 in 2017Q4. It dropped, as 68 investors sold Thor Industries, Inc. shares while 139 reduced holdings. 58 funds opened positions while 141 raised stakes. 45.19 million shares or 4.78% more from 43.13 million shares in 2017Q4 were reported.
Fred Alger Mgmt stated it has 0.01% in Thor Industries, Inc. (NYSE:THO). 12Th Street Asset Ltd Liability Com, a Illinois-based fund reported 233,247 shares. California State Teachers Retirement System has 76,890 shares. Asset Mgmt One Limited holds 1,270 shares or 0% of its portfolio. Cornerstone Inc has 0% invested in Thor Industries, Inc. (NYSE:THO) for 9 shares. Kemnay Advisory has invested 0.55% in Thor Industries, Inc. (NYSE:THO). Ameriprise Financial Inc owns 0.01% invested in Thor Industries, Inc. (NYSE:THO) for 223,971 shares. Piedmont Investment Advsr Ltd Co accumulated 4,985 shares or 0.02% of the stock. Asset Management stated it has 0.02% in Thor Industries, Inc. (NYSE:THO). Green Square Capital Ltd owns 6,661 shares or 0.12% of their US portfolio. Whittier Trust Of Nevada stated it has 135 shares or 0% of all its holdings. Bokf Na holds 20,355 shares or 0.07% of its portfolio. 10,800 were reported by Shell Asset Mngmt. Central Bankshares Tru Comm holds 0% in Thor Industries, Inc. (NYSE:THO) or 37 shares. Voloridge Ltd Liability has 108,620 shares.

The chart of Thor Industries, Inc. (THO) shows a double bottom with $91.97 target or 8.00 % below today’s $99.97 share price. The 7 months chart pattern indicates high risk for the $5.27 billion company. It was reported on Jul, 14 by If the $91.97 price target is reached, the company will be worth $421.44M less. Double bottoms are rare but powerful chart patterns.

The stock increased 0.29% or $0.29 during the last trading session, reaching $99.97. About 554,622 shares traded. Thor Industries, Inc. (NYSE:THO) has risen 3.20% since July 14, 2017 and is uptrending. It has underperformed by 9.37% the S&P500.

Analysts await Thor Industries, Inc. (NYSE:THO) to report earnings on September, 26. They expect $2.09 EPS, down 7.52 % or $0.17 from last year’s $2.26 per share. THO’s profit will be $110.13 million for 11.96 P/E if the $2.09 EPS becomes a reality. After $2.53 actual EPS reported by Thor Industries, Inc. for the previous quarter, Wall Street now forecasts -17.39 % negative EPS growth.

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

Among 8 analysts covering Thor Industries Inc (NYSE:THO), 6 have Buy rating, 0 Sell and 2 Hold. Therefore 75% are positive. Thor Industries Inc had 12 analyst reports since January 25, 2018 according to SRatingsIntel. Northcoast downgraded Thor Industries, Inc. (NYSE:THO) rating on Thursday, January 25. Northcoast has “Hold” rating and $150.0 target. The company was maintained on Monday, May 7 by Stifel Nicolaus. On Tuesday, February 27 the stock rating was maintained by Northcoast with “Hold”. The stock has “Buy” rating by Argus Research on Friday, March 16. On Thursday, March 8 the stock rating was maintained by Stifel Nicolaus with “Hold”. The firm earned “Hold” rating on Friday, February 9 by Stifel Nicolaus. The stock has “Outperform” rating by BMO Capital Markets on Tuesday, May 1. The rating was maintained by Citigroup with “Buy” on Thursday, June 21. Aegis Capital upgraded Thor Industries, Inc. (NYSE:THO) on Thursday, March 8 to “Buy” rating.

Thor Industries, Inc., through its subsidiaries, designs, makes, and sells recreational vehicles, and related parts and accessories primarily in the United States and Canada. The company has market cap of $5.27 billion. It operates through Towable Recreational Vehicles and Motorized Recreational Vehicles divisions. It has a 12.03 P/E ratio. The firm offers travel trailers under the Airstream Classic, International, Tommy Bahama, Flying Cloud, Sport, and Basecamp trade names, as well as Interstate series of Class B motorhomes; gasoline and diesel Class A and Class C motorhomes under the Four Winds, Hurricane, Chateau, Windsport, Axis, Vegas, Tuscany, Palazzo, Aria, Quantum, Compass, Gemini, A.C.E., Alante, Precept, Greyhawk, and Redhawk trade names; and luxury Class A motorhomes under Insignia, Aspire, Anthem, and Cornerstone trade names.

Thor Industries, Inc. (NYSE:THO) Institutional Positions Chart

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