S&P Promotes Thor to MidCap 400
Standard & Poor’s (S&P) will promote Thor Industries Inc. from its SmallCap 600 Index to its MidCap 400 Index effective Thursday (April 1).
Thor, which is on track to have nearly $2 billion in sales during its fiscal year 2004, which will end on July 31, will become a component of the S&P MidCap 400 Global Industry Classification System (GICS) Automobile Manufacturers Sub-Industry Index after the close of stock market trading on Thursday.
Thor will replace information technology firm Affiliated Computer Services on the MidCap 400. Affiliated Computer was promoted to the S&P 500 Index.
Health care firm BioLase Technology will replace Thor on the SmallCap 600.
S&P, a unit of McGraw-Hill Companies, is an independent credit rating, index, risk evaluation and investment research firm.
Thor, through several autonomously operating subsidiaries, is the leading manufacturer of towable RVs. It also builds motorhomes and midsize transit and shuttle buses. The New York Stock Exchange-listed company had $917 million in sales revenue during the first half of its fiscal 2004, which ended on Jan. 31.