Neutral - Price 13.87 on Dec. 2
by Baird & Co.

FQ1 (October) EPS of nine cents fell short of our 14-cent consensus. The downside was driven by weak margins in the [recreational-vehicle] segment. RV revenue fell 50% to $330.4 million. [Towable-vehicle maker] Thor trades at 18 times (12 times net of cash) our forward EPS estimate. At the end of FQ1 Thor had approximately $299 million in cash and investments. A demographic sweet spot for RVs, [Consumers who are] 55 to 64 years old, is projected to increase 15% (2.9% compound annual growth) during the next five years. Thor makes one out of every four RVs sold. Target: 17. Market cap: $771 million.

18.2

73.1

32

38

38

22.7

cheap, unloved

Downgraded by Matrix Research from Strong Buy to Sell

bought an rv. Loved the unit.

Big ticket. Mansions on wheels are out.