Active Stocks: Recreational vehicle manufacturer Thor Industries, Inc. [NYSE: THO] was a big gainer in Monday’s trading session. The stock closed the day with gains of 15.78%, following a strong Q4 that beat analysts’ expectations.
In Q4, the company’s revenues grew by about 23% to hit $2.31 billion. These sales numbers included roughly $719.5 million that came from Erwin Hymer Group SE, a European company that Thor industries acquired in February. Nonetheless, the company’s sales for recreational vehicles dropped by around 8.1% in the quarter.
To deal with this, the company announced that it would create an international product transfer team. This team would focus on the manufacture and distribution of Erwin Hymer in North America. Analysts noted that the company’s strong performance in yesterday’s session was driven by its announcement that the backlog of orders in North America had shrunk by 9.6%. Year-on-year, this backlog fell by 31%.
As shown on the daily chart above, yesterday’s rally saw THO close the day with a gap up, which saw it break resistance at $55. If THO can open in the green today, then this could an indicator of a continuation of the bullish trend that started in August. Technically it would be good to see a break of the $59.60 range. Yesterday THO traded 8.32 million shares indicating strong investor interest in this stock. Volatility was high with the stock trading between highs of $59.60 and lows of $53.89. THO finally closed the day at $56.64.
In the day, the key factor to keep an eye on will be a reaction of U.S markets to weak debt auctions in Japan and disappointing factory data in Europe.
About Thor Industries Inc
Thor Industries is a designer, manufacturer, and distributor of recreational vehicles. The company’s primary markets are the United States and Canada, but it has operations in other regions as well. Thor was founded in 1980 and has its headquarter is in Elkhart, Indiana.