Thor Industries, Inc. (THO)

Over the past six months, Thor Industries' stock has experienced notable movements and analyst attention. As of January 9, 2026, the share price was $110.02, reflecting a 17.90% increase from January 10, 2025. In the four weeks leading up to January 13, 2026, the stock gained 13.89%, and on January 13, 2026, it traded at $115.56, an increase of 6.77% from the previous trading session. The stock also surpassed its 200-day moving average on January 13, 2026. Analyst ratings and price targets have been updated frequently. On January 13, 2026, Loop Capital upgraded THO from 'Hold' to 'Buy' with a new price target of $133.00. Other recent analyst actions include Truist Financial raising its price target to $112.00 (Hold) on December 9, 2025, Citigroup lowering its target to $108.00 (Neutral) on December 5, 2025, and Baird raising its target to $115.00 (Neutral) on December 4, 2025. For the first quarter of fiscal 2026, reported on December 3, 2025, Thor Industries announced $0.41 earnings per share (EPS), exceeding the consensus estimate of ($0.11), with revenue up 11.5% year-over-year to $2.39 million. In the fourth quarter of fiscal 2025, reported on September 24, 2025, consolidated net sales decreased by 7.4% year-over-year to $2.53 billion, though gross profit margin improved to 15.8%, and net income was $90.0 million. The third quarter of fiscal 2025, reported on June 6, 2025, saw operating revenue increase by 3.3% year-over-year to $2.9 billion, primarily driven by North American Towable RVs. However, the second quarter of fiscal 2025, reported on March 5, 2025, saw the company post a per-share loss of $0.01 against an expected profit, with revenue declining nearly 9% year-over-year to $2.02 billion.

Demand for Thor Industries' products exhibits clear seasonality. The RV market typically experiences a normal seasonal lift during the spring selling season. This seasonality is reflected in the company's financial performance, with the third fiscal quarter (ending April 30) often showing stronger operating revenue compared to the second fiscal quarter (ending January 31). Thor Industries anticipates a stronger generation of cash from operations during the second half of its fiscal year (February to July). Dealers generally delay stocking for the spring selling season to maintain low inventory levels throughout the winter months. The popularity of RVing, particularly for summer trips, is a significant driver of demand, with Millennials and Gen Z showing considerable interest in RV purchases and searches. Consumer confidence is a key factor correlated with retail demand. While the RV market has been softer than its peak in 2021-2022, it is currently on a positive trajectory towards recovery. Affordability remains a crucial consideration for consumers, and Thor Industries has responded by increasing its product mix of lower-cost travel trailers.

Thor Industries, Inc. is an American manufacturer in the recreational vehicle (RV) industry, operating within the Industrials sector, specifically categorized under Homebuilding. The company designs, manufactures, and sells towable and motorized RVs, along with related parts and accessories. Thor Industries operates through a decentralized brand structure, encompassing well-known subsidiaries such as Airstream, Heartland RV, Jayco, Keystone RV, Thor Motor Coach, and Tiffin Motorhomes.

Thor Industries has manufacturing facilities located across the United States, including Michigan, Ohio, Indiana, Idaho, and Oregon. The company's international reach expanded with the acquisition of the European RV manufacturer Erwin Hymer Group in 2019. Thor Industries sells its RVs and associated products primarily to independent, non-franchise dealers throughout the United States, Canada, and various European countries.

In the past year, Thor Industries has actively focused on enhancing its brand reputation through sustainability initiatives and product innovation, despite facing a challenging market environment. In October 2024, Thor Industries released its seventh annual sustainability report for fiscal year 2024, highlighting its commitment to environmental, social, and corporate governance (ESG). Thor Industries is also prioritizing product innovation to regain market share. However, the RV industry has been navigating a period of softness due to macroeconomic headwinds impacting consumer demand and dealer inventory levels. In response, Thor Industries has focused on managing expenses, optimizing its supply chain, and offering value to consumers, including increasing the availability of lower-cost travel trailers.

Thor Industries' ownership structure is predominantly institutional, with institutional shareholders holding approximately 60.65% to 88.29% of the company's stock. Insiders hold a significant portion, ranging from about 4.93% to 63.89%, while retail investors account for a smaller percentage, between 0.00% and 6.78%. Major institutional owners include Vanguard Group Inc, BlackRock, Inc., Kayne Anderson Rudnick Investment Management LLC, ACR Alpine Capital Research, LLC, Dimensional Fund Advisors LP, Timucuan Asset Management Inc/fl, and State Street Corp. Among individual owners, Wade F. B. Thompson and Angela E. Thompson are notable insiders, holding 29.25% and 16.04% of the company's shares, respectively.