UPDATE: Northcoast Research Downgrades Thor Industries Inc. (THO) to Neutral

Northcoast Research analyst Brandon Rolle downgraded Thor Industries Inc. (NYSE: THO) from Buy to Neutral.

The analyst comments "We are downgrading THO, WGO and CWH to NEUTRAL after our latest checks revealed (a) price increases are negatively impacting retail demand and (b) there are new formidable competitors entering the RV industry that may alter 2022 market share dynamics." Further Rolle notes "Although we estimate May retail sales remained solid, we believe underlying retail demand and incoming pre-orders has slowed due to higher pricing and extended wait times for product. Contacts indicated customers have had “sticker shock” when seeing the updated pricing on new units, while also experiencing lost sales when going back to customers to tell them pricing has gone up since their initial deposit (no price protection). Our checks lead us to believe retail demand is likely to slow in the coming months, as additional price increases are implemented and wait times remain extended into the Fall.."

For an analyst ratings summary and ratings history on Thor Industries Inc. click here. For more ratings news on Thor Industries Inc. click here.

Shares of Thor Industries Inc. closed at $106.29 yesterday.

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