DA Davidson maintains Neutral on Thor and Winnebago stock after RV show

Investing.com - DA Davidson has reiterated its Neutral ratings on Thor Industries (NYSE:THO) and Winnebago Industries (NYSE:WGO) following the analyst’s attendance at the 2025 Hershey RV Show. Thor Industries , currently trading at $105.01 with a market cap of $5.6 billion, has shown strong momentum with a 32% return over the past six months, according to InvestingPro data.

The research firm noted that despite optimal weather conditions during the five-day event, dealer feedback indicated mixed retail conversion rates that varied by model and price point.

Dealers expressed a cautious outlook regarding near-term inventory levels, which DA Davidson believes could negatively impact sentiment heading into the upcoming Open House event in the coming weeks.

The firm acknowledged a relatively stronger performance in the travel trailer segment in recent months, but emphasized that overall retail performance continues to show inconsistency across the recreational vehicle market.

These mixed market conditions support DA Davidson’s decision to maintain its Neutral stance on both recreational vehicle manufacturers, as the industry continues to face variable consumer demand patterns.

In other recent news, Thor Industries announced a new $400 million share repurchase program, which will be in effect until July 31, 2027. This program replaces a previous authorization that was set to expire in 2025. Additionally, Thor Industries declared a quarterly dividend of $0.50 per share, payable on July 15, 2025, to shareholders of record as of July 1, 2025. KeyBanc has upgraded Thor Industries from Underweight to Sector Weight, noting potential growth drivers after recent meetings with the company’s management. The company anticipates similar financial results in fiscal year 2026 compared to fiscal year 2025. Meanwhile, Benchmark maintained its Hold rating on Thor Industries, citing ongoing challenges in the recreational vehicle sector and concerns about market share losses for some of its brands. These developments come amid a cautious consumer discretionary environment affecting the industry.

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