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Thor (THO) Partners TechNexus to Boost Innovation and Margins

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Thor Industries (THO - Free Report) recently formed a partnership with TechNexus Venture Collaborative to facilitate an ecosystem of global entrepreneurs and transformative start-up companies to connect and align with it to power its strategic initiatives. The collaboration looks to accelerate the pace of innovation, improve the recreational vehicle (RV) maker’s end-customer experience and steer margin improvement initiatives.

TechNexus operates as a force multiplier between enterprises and entrepreneurs to fund and incubate opportunities that result in new market solutions and revenue growth. Prioritizing early- and growth-stage companies globally, Thor and TechNexus will enhance the growth of portfolio companies by combining industry and technical expertise, providing access to channel partnerships and offering launch and scale innovative solutions.

Thor’s investment in the venture will empower it to expand access to the RV lifestyle for the explorers, ramblers, weekend warriors and every adventurer in-between. It will also bring forth a chance to engage with emerging technologies like autonomy, robotics, electric vehicles and digital consumer experience.

The partnership has a two-pronged aim. Apart from providing capital for growing ventures, it makes it easy for other fast-growing companies to do business with Thor.

Thor is confident that the partnership with TechNexus will help it carve out a leading position for itself in the RV space. The company laid out its electric concept vehicles at the Tampa SuperShow and has announced its partnership with ZF Friedrichshafen AG. The newest collaboration promises to scale up its innovation and global reach in RVs.

TechNexus is enthusiastic about supporting Thor in exploring the large untapped pool of RV lifestyle and allowing adventure-lovers to discover RVs for the first time.

Zacks Rank & Other Key Picks

Currently, Thor carries a Zacks Rank #2 (Buy).

Peers of Thor include Winnebago Industries (WGO - Free Report) , Atlas Technical Consultants (ATCX - Free Report) , Acuity Brands (AYI - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Winnebago for the current-year earnings has been revised around 29% upward over the past 60 days.

Winnebago’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. WGO pulled off a trailing four-quarter earnings surprise of 39.58%, on average. The stock has also rallied 4.5% over a year.

Atlas Technical Consultants has an expected earnings growth rate of 20% for the current year. The Zacks Consensus Estimate for earnings for the current year has remained stable over the past 60 days.

Atlas Technical Consultants’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters. ATCX pulled off a trailing four-quarter earnings surprise of 100.66%, on average. Its shares have declined 20.7% over a year.

Acuity Brands has an expected earnings growth rate of 7.73% for the current year. The Zacks Consensus Estimate for the current year has been revised around 5% upward over the past 60 days.

Acuity Brands’ bottom line beat the Zacks Consensus Estimate in all the trailing four quarters. AYI delivered a trailing four-quarter earnings surprise of roughly 20.49%, on average. The stock has climbed 74.8% over a year.