Raymond James upgrades Thor Industries stock rating to Market Perform

Investing.com - Raymond James upgraded Thor Industries Inc. (NYSE:THO) stock rating to Market Perform from Underperform on Monday. According to InvestingPro data, the recreational vehicle manufacturer’s shares are currently trading at a P/E ratio of 22.8x, with analysis suggesting the stock may be slightly undervalued.

The upgrade follows a recent meeting between Raymond James and Thor’s Head of Corporate Development and Investor Relations, Seth Woolf, which reinforced the firm’s belief that the company’s current outlook is "adequately conservative."

Raymond James noted that Thor Industries may have "several potential idiosyncratic growth drivers" that might not be fully reflected in the company’s guidance or in broader market expectations.

The firm acknowledged that Thor’s stock has rallied since April’s post-Liberation Day lows, similar to many stocks in the Leisure group that Raymond James covers.

Raymond James described Thor’s current valuation as "reasonable though not overly compelling at this stage in the cycle," suggesting the stock price likely already incorporates some expectation of earnings upside. For deeper insights into Thor’s valuation and access to 7 additional exclusive ProTips, visit InvestingPro.

In other recent news, Thor Industries reported fourth-quarter 2025 earnings that surpassed analyst expectations, despite issuing cautious guidance for fiscal year 2026. The company’s performance led to BMO Capital raising its price target to $115, maintaining an Outperform rating, as the results were better than anticipated even after accounting for one-time events. Similarly, DA Davidson adjusted its price target to $102, citing "potential green shoots" following Thor’s earnings announcement and an analyst trip to the company’s Open House. Benchmark reiterated its Hold rating on Thor Industries, noting ongoing challenges in European markets but acknowledging the positive quarterly results.

Additionally, Thor Industries announced a regular quarterly cash dividend of $0.52 per share, payable on November 6, 2025, to shareholders of record as of October 23, 2025. This decision was made following a board meeting, as stated in the company’s press release. Benchmark’s research highlighted expectations for a softer start to fiscal 2026, with a stronger performance anticipated in the latter half, reflecting European seasonality impacts on Thor’s EHG division. These recent developments provide investors with key insights into Thor Industries’ current financial standing and future outlook.

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