Thor Industries rallies after $400 mln stock buyback announced

THOR Industries

24/06/2025 14:47

** Shares of recreational vehicles maker Thor Industries THO.N up 4.3% to $90.63 early Tues as co plans to buy back more stock

** Elkhart, Indiana-based firm late Mon said board re-authorized $400 mln share repurchase

** Existing share repurchase authorization, set to expire on Jul 31, was retired

** With 53.2 mln shares outstanding as of May 31, per recent 10-Q filing, THO has $4.8 bln market cap

** Earlier this month, co posted fiscal Q3 sales and profits beat and maintained revised FY EPS guidance of $3.30-$4.00

** With move on the session, THO shares down ~5% YTD compared to ~13% drop in S&P 1500 Automobiles index .SPCOMAUTO

** Of 17 analysts, recommendation breakdown is 3 "strong buy" or "buy", 11 "hold" and 3 "sell" ratings; median PT of $88 up from $82 a month ago - latest LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))