Winnebago Industries (NYSE:WGO) Stock Price Down 7.2% After Analyst Downgrade

Shares of Winnebago Industries, Inc. (NYSE:WGO) traded down 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. 194,406 shares were traded 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 also recently issued reports on WGO. DA Davidson dropped their price target on Winnebago Industries from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 24th. BMO Capital Markets lowered their price objective on shares of Winnebago Industries from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday. Benchmark reissued a “buy” rating and issued a $70.00 price objective on shares of Winnebago Industries in a research report on Monday, December 23rd. KeyCorp decreased their target price on shares of Winnebago Industries from $58.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Finally, StockNews.com raised shares of Winnebago Industries from a “sell” rating to a “hold” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

Insider Activity

In related news, Director Jacqueline D. Woods sold 1,503 shares of the business’s stock in a transaction on 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 in the company, valued at $486,855.20. The trade was a 12.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 4.63% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC increased its stake in Winnebago Industries by 270.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 534 shares of the construction company’s stock worth $25,000 after acquiring an additional 390 shares during the period. Quarry LP grew its holdings in shares of Winnebago Industries by 4,038.1% during the 3rd quarter. Quarry LP now owns 869 shares of the construction company’s stock worth $50,000 after purchasing an additional 848 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Winnebago Industries by 823.5% in 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 period. R Squared Ltd bought a new stake in Winnebago Industries during the fourth quarter worth about $43,000. Finally, KBC Group NV lifted its position in Winnebago Industries by 64.5% during the fourth quarter. KBC Group NV now owns 1,497 shares of the construction company’s stock worth $72,000 after purchasing an additional 587 shares during the period.

Winnebago Industries Trading Down 7.5 %

The firm’s fifty day simple moving average is $41.45 and its 200 day simple moving average is $50.63. The stock has a market capitalization of $986.60 million, a P/E ratio of -52.64 and a beta of 1.70. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.34 and a current ratio of 2.58.

Winnebago Industries (NYSE:WGO) last released its earnings results on Thursday, March 27th. The construction company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. The firm had revenue of $620.20 million for the quarter, compared to analysts’ expectations of $621.41 million. Winnebago Industries had a positive return on equity of 5.32% and a negative net margin of 0.63%. The business’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.93 earnings per share. As a group, equities research analysts forecast that Winnebago Industries, Inc. will post 3.41 EPS 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 paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend is Wednesday, April 16th. Winnebago Industries’s payout ratio is -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.