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Stock Alert: Shares Of Thor Industries Inc. (THO) Hit 52-Week High

Shares of Thor Industries Inc. (THO), recreational vehicles maker, touched a 52-week high of $72.49 on December 18, and closed Wednesday's trading session at $72.40, up $3.12 or 4.50%.

"In our fiscal first quarter, we achieved a pronounced improvement in our operating results, reflecting the benefits of the flexible and highly variable cost model we have developed, as we increased gross profit margins in our North American RV segments despite modest decreases in net sales," commented Bob Martin, President and CEO of Thor Industries.

Net income attributable to Thor for the first quarter of fiscal 2020 was $51.1 million or $0.92 per share compared to $14.0 million or $0.26 per share last year.

First-quarter net sales were $2.16 billion, an increase of 22.9%, from the first quarter of fiscal 2019.

The Elkhart, Indiana-based company expects to achieve $14 billion in annual net sales, attain sustainable gross margins of 16%, and generate more than $3 billion in cumulative net cash from operations by the end of fiscal 2025.

Further, the company believes that "the long-term outlook for the RV industry and for Thor Industries is compelling, and we look forward to regularly reporting on our progress toward these goals."

Recently, the company's Board of Directors approved the payment of a regular quarterly cash dividend of $0.40 per share, which is payable on January 10, 2020, to shareholders of record at the close of business on December 26, 2019.

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