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

Winnebago Industries, Inc. (NYSE:WGO) shares fell 7.2% during trading 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. 194,406 shares traded hands during trading, a decline of 70% from the average session volume of 645,999 shares. The stock had previously closed at $37.58.

Several other analysts have also recently commented on the stock. StockNews.com upgraded shares of Winnebago Industries from a “sell” rating to a “hold” rating in a research note on Tuesday. Citigroup lowered their price target on shares of Winnebago Industries from $51.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. DA Davidson reduced their price objective on Winnebago Industries from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Tuesday, December 24th. KeyCorp lowered their target price on Winnebago Industries from $58.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Finally, Benchmark reiterated a “buy” rating and set a $70.00 price target on shares of Winnebago Industries in a research report on Monday, December 23rd. Three analysts have rated the stock with a hold rating and seven have issued 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.

Insiders Place Their Bets

In related news, Director Jacqueline D. Woods sold 1,503 shares of Winnebago Industries 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 sale, the director now directly owns 10,985 shares in the company, valued at approximately $486,855.20. The trade was a 12.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.63% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new position in Winnebago Industries during the third quarter worth about $7,750,000. Vestcor Inc boosted its holdings in shares of Winnebago Industries by 105.6% during the 3rd quarter. Vestcor Inc now owns 17,205 shares of the construction company’s stock worth $1,000,000 after purchasing an additional 8,837 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Winnebago Industries by 25.4% in the third quarter. JPMorgan Chase & Co. now owns 855,507 shares of the construction company’s stock valued at $49,714,000 after purchasing an additional 173,274 shares in the last quarter. Inspire Investing LLC acquired a new stake in shares of Winnebago Industries in the fourth quarter valued at approximately $399,000. Finally, Dean Investment Associates LLC lifted its position in Winnebago Industries by 108.1% during the third quarter. Dean Investment Associates LLC now owns 50,966 shares of the construction company’s stock worth $2,962,000 after buying an additional 26,474 shares in 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 stock has a 50 day simple moving average of $41.71 and a two-hundred day simple moving average of $50.78. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.58 and a quick ratio of 1.34.

Winnebago Industries (NYSE:WGO) last announced its quarterly earnings data on Thursday, March 27th. The construction company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. Winnebago Industries had a negative net margin of 0.63% and a positive return on equity of 5.32%. The firm had revenue of $620.20 million during the quarter, compared to analyst estimates of $621.41 million. During the same quarter in the prior year, the firm posted $0.93 earnings per share. Winnebago Industries’s quarterly revenue was down 11.9% on a year-over-year basis. On average, equities research analysts predict that Winnebago Industries, Inc. will post 3.41 earnings per share for the current fiscal 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 issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.89%. Winnebago Industries’s dividend payout ratio is currently -206.06%.

Winnebago Industries Company Profile

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.