Winnebago Industries (NYSE:WGO) Stock Price Down 6.6% on Analyst Downgrade

Winnebago Industries, Inc. (NYSE:WGO)’s stock price traded down 6.6% during mid-day trading on Tuesday after Truist Financial lowered their price target on the stock from $72.00 to $68.00. The stock traded as low as $50.08 and last traded at $50.63. 723,200 shares were traded during trading, a decline of 4% from the average session volume of 756,855 shares. The stock had previously closed at $54.18.

Several other equities research analysts have also issued reports on the company. Cfra raised Winnebago Industries from a “sell” rating to a “buy” rating in a research note on Tuesday, September 1st. SunTrust Banks lifted their price objective on Winnebago Industries from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. KeyCorp lifted their price objective on Winnebago Industries from $45.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, June 10th. BMO Capital Markets lifted their price objective on Winnebago Industries from $40.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, June 25th. Finally, Sidoti lifted their price target on Winnebago Industries from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, June 19th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $67.50.

In related news, VP Ashis Nayan Bhattacharya sold 1,156 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $61.35, for a total transaction of $70,920.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. 3.80% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of WGO. Northern Oak Wealth Management Inc. purchased a new position in shares of Winnebago Industries during the 2nd quarter worth approximately $36,000. Mutual of America Capital Management LLC grew its holdings in shares of Winnebago Industries by 22.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 1,477 shares of the construction company’s stock worth $41,000 after acquiring an additional 266 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Winnebago Industries by 25.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,116 shares of the construction company’s stock worth $59,000 after acquiring an additional 430 shares during the period. Federated Hermes Inc. purchased a new position in shares of Winnebago Industries during the 2nd quarter worth approximately $64,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Winnebago Industries by 67.0% during the 1st quarter. Tower Research Capital LLC TRC now owns 3,136 shares of the construction company’s stock worth $87,000 after acquiring an additional 1,258 shares during the period. Hedge funds and other institutional investors own 87.83% of the company’s stock.

The company has a current ratio of 2.31, a quick ratio of 1.48 and a debt-to-equity ratio of 0.58. The company has a market cap of $1.61 billion, a PE ratio of 30.00 and a beta of 2.15. The firm has a 50 day moving average of $57.07 and a two-hundred day moving average of $51.54.

Winnebago Industries (NYSE:WGO) last posted its quarterly earnings results on Wednesday, June 24th. The construction company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.15. The company had revenue of $402.50 million for the quarter, compared to the consensus estimate of $335.93 million. Winnebago Industries had a return on equity of 9.21% and a net margin of 2.37%. The firm’s quarterly revenue was down 23.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.04 EPS. On average, research analysts forecast that Winnebago Industries, Inc. will post 2.05 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.48 annualized dividend and a dividend yield of 1.01%. This is an increase from Winnebago Industries’s previous quarterly dividend of $0.11. Winnebago Industries’s dividend payout ratio is presently 12.79%.

Winnebago Industries Company Profile (NYSE:WGO)

Winnebago Industries, Inc manufactures and sells recreation vehicles and marine products primarily for use in leisure travel and outdoor recreation activities. The company operates in five segments: Winnebago Motorhomes, Winnebago Towables, Grand Design Towables, Winnebago Specialty Vehicles, and Chris-Craft Marine.

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