Stock Alert: Thor Industries Stock At 52-week High

(RTTNews) - Shares of recreational vehicles manufacturer, Thor Industries, Inc. (THO) hit its 52-week high of $72.49 on Wednesday, before ending the trade at $72.40 The stock is almost 60% up in the last four months.

To expand its operations to Europe, in February, Thor had acquired Erwin Hymer Group SE (EHG), one of the largest RV manufacturers in Europe. Also, the company has paid approximately $500 million of principal on its acquisition-related debt as of September 30, 2019.

The industry had been through an "independent inventory rationalization process" for some time now, which the company thinks is nearing completion. As of October 31, 2019, the level of North American independent dealer inventory of Thor products was approximately 101,500 units, a 22.8% decrease from last year.

When the company reported its first-quarter results early this month, net sales were registered at $2.16 billion, a 22.9% increase from last year. This included $493.0 million in net sales from Erwin Hymer Group (EHG).

Net income for the first quarter was $51.1 million and $0.92 per share compared to $14.0 million and $0.26 per share in the same quarter a year ago. Analysts were expecting $1.23 per share.