THO - Is Thor Industries a Buy Now?
2023-06-15 10:15:00 ET
Recreational-vehicle (RV) stocks are suddenly on the move again after a painful cyclical pullback in the industry. Thor Industries (NYSE: THO) shares jumped earlier this month, following the RV manufacturer's Q2 earnings update. The stock is now up 27% year to date, nearly double the S&P 500 's 14% return so far in 2023.
Are investors being too optimistic about Thor at a time when sales and profit margins are shrinking? Or is this the right time to accumulate a position in this market-leading, cash-rich business? Let's take a closer look.
Thor's early June earnings update contained no sign of an end to the difficult industry conditions that have hurt the RV world over the past year. Demand is still weak for these highly consumer discretionary purchases, and Q3 sales fell 37% from last year's record haul.
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Is Thor Industries a Buy Now?