Truist Financial Lowers Winnebago Industries (NYSE:WGO) Price Target to $56.00

Winnebago Industries (NYSE:WGO) had its target price reduced by equities researchers at Truist Financial from $64.00 to $56.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Truist Financial’s price objective suggests a potential upside of 15.30% from the stock’s previous close.

Several other research analysts have also recently issued reports on WGO. DA Davidson decreased their target price on shares of Winnebago Industries from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Tuesday, December 24th. Northcoast Research upgraded shares of Winnebago Industries from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Monday, November 11th. Robert W. Baird cut their target price on Winnebago Industries from $70.00 to $64.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. StockNews.com cut Winnebago Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Finally, BMO Capital Markets lowered their price target on Winnebago Industries from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Winnebago Industries has an average rating of “Moderate Buy” and an average target price of $64.78.

Winnebago Industries Stock Performance

Winnebago Industries stock opened at $48.57 on Tuesday. The stock’s 50 day moving average is $55.31 and its 200 day moving average is $56.42. The company has a market capitalization of $1.38 billion, a P/E ratio of 161.91 and a beta of 1.62. Winnebago Industries has a twelve month low of $45.44 and a twelve month high of $74.10. The company has a quick ratio of 1.36, a current ratio of 2.44 and a debt-to-equity ratio of 0.50.

Winnebago Industries (NYSE:WGO) last released its earnings results on Friday, December 20th. The construction company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.23). The company had revenue of $625.60 million during the quarter, compared to analysts’ expectations of $672.23 million. Winnebago Industries had a return on equity of 7.97% and a net margin of 0.44%. The company’s revenue was down 18.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.06 earnings per share. On average, equities research analysts predict that Winnebago Industries will post 3.52 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Michael J. Happe bought 2,500 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were bought at an average cost of $55.52 per share, for a total transaction of $138,800.00. Following the completion of the transaction, the chief executive officer now owns 285,953 shares of the company’s stock, valued at approximately $15,876,110.56. This trade represents a 0.88 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William C. Fisher purchased 2,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were bought at an average cost of $54.81 per share, with a total value of $109,620.00. Following the acquisition, the director now directly owns 32,267 shares of the company’s stock, valued at $1,768,554.27. This trade represents a 6.61 % increase in their position. The disclosure for this purchase can be found here. Insiders own 4.63% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its stake in Winnebago Industries by 5.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 6,143 shares of the construction company’s stock worth $333,000 after acquiring an additional 294 shares during the period. Quest Partners LLC raised its position in shares of Winnebago Industries by 3,334.2% during the 2nd quarter. Quest Partners LLC now owns 17,583 shares of the construction company’s stock valued at $953,000 after purchasing an additional 17,071 shares during the period. Texas Permanent School Fund Corp lifted its stake in shares of Winnebago Industries by 9.9% during the 2nd quarter. Texas Permanent School Fund Corp now owns 28,128 shares of the construction company’s stock valued at $1,525,000 after buying an additional 2,539 shares in the last quarter. Headlands Technologies LLC bought a new position in Winnebago Industries in the 2nd quarter worth $110,000. Finally, American Century Companies Inc. boosted its holdings in Winnebago Industries by 8.8% in the 2nd quarter. American Century Companies Inc. now owns 861,575 shares of the construction company’s stock worth $46,697,000 after buying an additional 69,453 shares during the period.

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.