Appropriates of Thor Industries soared over 13 percent in midday shopper Tuesday after the RV builder reported robust earnings and upped its tomorrows expectations.
Thor’s record EPS of $2.43 for first quarter 2018 creased Wall Street’s expectations by 59 cents. The company’s stock is on monitor to have its best day since Aug. 3, 2012, when Thor closed up more than 13 percent.
“The amount of our offerings … are attracting an ever-wider array of customers, including Baby Boomers, Gen-X’ers and Millennials, to impose upon part in the RV-lifestyle,” CEO Bob Martin said in a statement.
The recreational vehicle maker is apprehending demand for its towable products continue to rise, as well as for its motorized means. Martin credits this to the overall industry’s demand remaining “very strong,” saying he sees the growth continuing “for the foreseeable future.”
Kayne Anderson Rudnick analyst Chris Wright advised CNBC that Martin is right: lightweight, cheaper towable products come together with an increase in younger buyers — both millennials and new families similar to one another — have “been the big driver for the past few years in the industry.”
“National reserves’ visitation statistics are exemplary of this: since 2014, on an aggregate, the amount of visiting is hitting all-time highs every single year,” Wright mean. “That strong uptick has tracked along with Thor’s consequences.”
SunTrust analyst Michael Swartz wrote in a note Tuesday that Thor’s section “came in much stronger-than-expected by nearly any metric.” With a buy rating on Thor’s forerunner, Swartz also says the current momentum will continue, while pick up SunTrust’s price target on the shares to $165.
Thor stock has risen nearing 52 percent this year, trading at over $152 a ration on Tuesday.
Programming Note: For more on Thor Industries, watch CEO Robert Martin’s interview on Mad Loot tonight at 6 p.m. ET.
Tweet: [email protected] is up 11% this morning on beefy earnings – could the stock continue revving up gains? @jimcramer is curb in with the CEO tonight