Thor Industries Analysts Raise Their Forecasts After Upbeat Q3 Results

Thor Industries Inc THO reported better-than-expected third-quarter results and raised its FY23 earnings guidance.

Thor Industries reported a third-quarter FY23 net sales decline of 37.1% year-on-year to $2.93 billion, beating the consensus of $2.83 billion. EPS of $2.24 beat the analyst consensus of $1.07.

EPS for FY23 is expected to be $5.80-$6.50 (previously $5.50-$6.50) against the consensus of $5.64.

Thor Industries shares gained 17.7% to close at $93.15 on Tuesday.

These analysts made changes to their price targets on Thor Industries following earnings announcement.

• Citigroup raised the price target on Thor Industries from $86 to $97. Citigroup analyst James Hardiman maintained a Neutral rating.
• Baird increased the price target on Thor Industries from $95 to $110. Baird analyst Craig Kennison maintained an Outperform rating.
• BMO Capital boosted Thor Industries price target from $105 to $115. BMO Capital analyst Gerrick Johnson maintained an Outperform rating.

Read More: Fear & Greed Index Moves To 'Extreme Greed' Zone After US Stocks Settle Higher