Thor Stock Hits the Brakes After Earnings, Revenue Beat

The company did express some supply chain concerns for the first half of the year

Digital Content Manager
Mar 9, 2021 at 9:35 AM
facebook X logo linkedin


The shares of Thor Industries (NYSE:THO) are lower this morning, following the company's fiscal second-quarter results. The recreation vehicle (RV) concern's earnings and revenue both topped analysts' estimates. The company did bring up some supply chain issues that could hamper some growth, though it hopes these will ease by the second half of the year. THO was last seen up 2.1% at $127.33. 

The equity hit a three-year high of $133.98 during yesterday's trading, breaking out from its recent sideways trading contained by the $110 and $130 levels. A little lower down the charts, the 50-day has acted as a net for several pullbacks since November, guiding THO to a 39.9% year-to-date lead. 

Despite this recent growth, analysts are split on the stock, with four calling it a "strong buy" and four saying "hold." There could be room for price-target hikes moving forward though. The 12-month consensus price target of $122.78 is a 5.6% discount to last night's close. 

Meanwhile, short sellers have been hitting the exits at an alarming pace. Short interest dropped 38.5% in the last two reporting periods, though the 4.80 million shares sold short make up a solid 9.1% of the stock's available float, and would take over six days to cover, at THO's average daily pace of trading, leaving plenty of room for a short squeeze, should this pessimism continue to unwind. 

 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI