Winnebago Industries (NYSE:WGO) Shares Gap Down After Earnings Miss

Winnebago Industries, Inc. (NYSE:WGO)’s stock price gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $51.93, but opened at $50.00. Winnebago Industries shares last traded at $52.20, with a volume of 125,070 shares trading hands.

The construction company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.23). Winnebago Industries had a return on equity of 7.97% and a net margin of 0.44%. The firm had revenue of $625.60 million for the quarter, compared to the consensus estimate of $672.23 million. During the same quarter in the prior year, the firm earned $1.06 EPS. The company’s revenue was down 18.0% on a year-over-year basis.

Winnebago Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 15th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Wednesday, January 15th. Winnebago Industries’s dividend payout ratio is 453.33%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Benchmark dropped their target price on Winnebago Industries from $75.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. StockNews.com cut shares of Winnebago Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Truist Financial cut their price objective on shares of Winnebago Industries from $68.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, October 24th. BMO Capital Markets lowered their target price on shares of Winnebago Industries from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Robert W. Baird cut their price target on Winnebago Industries from $70.00 to $64.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $68.13.

Insider Buying and Selling at Winnebago Industries

In other Winnebago Industries news, Director William C. Fisher purchased 2,000 shares of the stock in a transaction dated Monday, October 28th. The stock was bought at an average price of $54.81 per share, with a total value of $109,620.00. Following the acquisition, the director now owns 32,267 shares of the company’s stock, valued at approximately $1,768,554.27. This represents a 6.61 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Bret A. Woodson sold 12,187 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $56.64, for a total value of $690,271.68. Following the sale, the senior vice president now owns 23,728 shares of the company’s stock, valued at approximately $1,343,953.92. This represents a 33.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.63% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. boosted its stake in shares of Winnebago Industries by 47.8% in the 2nd quarter. Pacer Advisors Inc. now owns 1,431,764 shares of the construction company’s stock valued at $77,602,000 after purchasing an additional 463,257 shares in the last quarter. Millennium Management LLC boosted its position in Winnebago Industries by 1,772.8% in the second quarter. Millennium Management LLC now owns 210,504 shares of the construction company’s stock valued at $11,409,000 after buying an additional 199,264 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Winnebago Industries during the second quarter worth $9,708,000. Janus Henderson Group PLC increased its holdings in shares of Winnebago Industries by 1,242.6% during the third quarter. Janus Henderson Group PLC now owns 181,579 shares of the construction company’s stock worth $10,552,000 after buying an additional 168,055 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Winnebago Industries in the 2nd quarter valued at $7,976,000.

Winnebago Industries Stock Performance

The company has a market cap of $1.45 billion, a price-to-earnings ratio of 166.61 and a beta of 1.60. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.36 and a current ratio of 2.44. The company has a fifty day moving average of $57.85 and a two-hundred day moving average of $57.38.

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.