Winnebago Industries (NYSE:WGO) Trading Down 7.2% on Analyst Downgrade

Winnebago Industries, Inc. (NYSE:WGO) dropped 7.2% on Friday after Truist Financial lowered their price target on the stock from $58.00 to $50.00. Truist Financial currently has a buy rating on the stock. Winnebago Industries traded as low as $35.07 and last traded at $34.89. Approximately 194,406 shares were traded during trading, a decline of 70% from the average daily volume of 645,999 shares. The stock had previously closed at $37.58.

WGO has been the topic of a number of other reports. Benchmark reissued a “buy” rating and issued a $70.00 price target on shares of Winnebago Industries in a research note on Monday, December 23rd. BMO Capital Markets decreased their target price on Winnebago Industries from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Friday. KeyCorp cut their price target on Winnebago Industries from $58.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Citigroup reduced their price target on Winnebago Industries from $51.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. Finally, StockNews.com raised Winnebago Industries from a “sell” rating to a “hold” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Winnebago Industries has an average rating of “Moderate Buy” and a consensus target price of $58.00.

Insider Transactions at Winnebago Industries

In other news, Director Jacqueline D. Woods sold 1,503 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $44.32, for a total value of $66,612.96. Following the completion of the sale, the director now directly owns 10,985 shares of the company’s stock, valued at approximately $486,855.20. The trade was a 12.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.63% of the company’s stock.

Institutional Investors Weigh In On Winnebago Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its holdings in shares of Winnebago Industries by 270.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 534 shares of the construction company’s stock valued at $25,000 after buying an additional 390 shares during the last quarter. R Squared Ltd purchased a new position in shares of Winnebago Industries in the 4th quarter valued at approximately $43,000. Sterling Capital Management LLC raised its stake in shares of Winnebago Industries by 823.5% during the fourth quarter. Sterling Capital Management LLC now owns 905 shares of the construction company’s stock worth $43,000 after purchasing an additional 807 shares during the last quarter. Quarry LP grew its position in Winnebago Industries by 4,038.1% in the 3rd quarter. Quarry LP now owns 869 shares of the construction company’s stock valued at $50,000 after buying an additional 848 shares during the last quarter. Finally, KBC Group NV raised its position in Winnebago Industries by 64.5% during the 4th quarter. KBC Group NV now owns 1,497 shares of the construction company’s stock worth $72,000 after buying an additional 587 shares during the last quarter.

Winnebago Industries Price Performance

The company has a market cap of $991.88 million, a price-to-earnings ratio of -52.93 and a beta of 1.70. The company’s 50 day moving average price is $41.71 and its 200 day moving average price is $50.78. The company has a current ratio of 2.58, a quick ratio of 1.34 and a debt-to-equity ratio of 0.51.

Winnebago Industries (NYSE:WGO) last issued its earnings results on Thursday, March 27th. The construction company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.19. Winnebago Industries had a positive return on equity of 5.32% and a negative net margin of 0.63%. The business had revenue of $620.20 million during the quarter, compared to the consensus estimate of $621.41 million. During the same period in the prior year, the business posted $0.93 EPS. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. Equities research analysts forecast that Winnebago Industries, Inc. will post 3.41 earnings per share for the current year.

Winnebago Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Wednesday, April 16th. Winnebago Industries’s dividend payout ratio is currently -206.06%.

About Winnebago Industries

Winnebago Industries, Inc manufactures and sells recreation vehicles and marine products primarily for use in leisure travel and outdoor recreation activities. The company operates through three segments: Towable RV, Motorhome RV, and Marine. It provides towable products that are non-motorized vehicles to be towed by automobiles, pickup trucks, SUVs, or vans for use as temporary living quarters for recreational travel, such as conventional travel trailers, fifth wheels, folding camper trailers, and truck campers under the Winnebago and Grand Design brand names.