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

Winnebago Industries, Inc. (NYSE:WGO)’s share price traded down 7.2% during mid-day 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 were traded during mid-day trading, a decline of 70% from the average session volume of 645,999 shares. The stock had previously closed at $37.58.

Several other brokerages have also recently weighed in on WGO. KeyCorp reduced their price objective on shares of Winnebago Industries from $58.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. BMO Capital Markets reduced their price objective on shares of Winnebago Industries from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday. Benchmark reissued a “buy” rating and set a $70.00 target price on shares of Winnebago Industries in a research note on Monday, December 23rd. StockNews.com raised shares of Winnebago Industries from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, DA Davidson lowered their price objective on Winnebago Industries from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Tuesday, December 24th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $58.00.

Insider Activity

In related news, Director Jacqueline D. Woods sold 1,503 shares of the 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 of the company’s stock, valued at approximately $486,855.20. This represents a 12.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.63% of the company’s stock.

Hedge Funds Weigh In On Winnebago Industries

A number of hedge funds and other institutional investors have recently modified their holdings of WGO. Smartleaf Asset Management LLC increased its position in shares of Winnebago Industries by 270.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 534 shares of the construction company’s stock valued at $25,000 after acquiring an additional 390 shares during the last quarter. R Squared Ltd bought a new stake in shares of Winnebago Industries during the 4th quarter worth $43,000. Sterling Capital Management LLC boosted its holdings in shares of Winnebago Industries by 823.5% in the 4th quarter. Sterling Capital Management LLC now owns 905 shares of the construction company’s stock worth $43,000 after buying an additional 807 shares during the last quarter. Quarry LP grew its position in Winnebago Industries by 4,038.1% during the third quarter. Quarry LP now owns 869 shares of the construction company’s stock valued at $50,000 after buying an additional 848 shares during the period. Finally, KBC Group NV increased its stake in shares of Winnebago Industries by 64.5% during the 4th 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 last quarter.

Winnebago Industries Stock Down 7.5 %

The stock has a 50-day simple moving average of $41.45 and a 200-day simple moving average of $50.63. The firm has a market capitalization of $986.60 million, a PE ratio of -52.64 and a beta of 1.70. The company has a quick ratio of 1.34, a current ratio of 2.58 and a debt-to-equity ratio of 0.51.

Winnebago Industries (NYSE:WGO) last issued its earnings results on Thursday, March 27th. The construction company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. The firm had revenue of $620.20 million during the quarter, compared to analyst estimates of $621.41 million. Winnebago Industries had a negative net margin of 0.63% and a positive return on equity of 5.32%. The company’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the business earned $0.93 earnings per share. Analysts forecast that Winnebago Industries, Inc. will post 3.41 EPS for the current year.

Winnebago Industries Announces Dividend

The business 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 $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 currently -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.