Winnebago Industries (NYSE:WGO) Stock Price Down 4.1% Following Analyst Downgrade

Winnebago Industries, Inc. (NYSE:WGO)’s stock price was down 4.1% during trading on Tuesday after Truist Financial lowered their price target on the stock from $50.00 to $38.00. Truist Financial currently has a buy rating on the stock. Winnebago Industries traded as low as $29.91 and last traded at $29.72. Approximately 102,402 shares traded hands during trading, a decline of 85% from the average daily volume of 691,979 shares. The stock had previously closed at $30.98.

WGO has been the topic of several other research reports. BMO Capital Markets dropped 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, March 28th. Baird R W lowered Winnebago Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Citigroup cut their price objective on Winnebago Industries from $51.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Robert W. Baird lowered Winnebago Industries from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $50.00 to $38.00 in a research report on Friday, April 4th. Finally, StockNews.com downgraded shares of Winnebago Industries from a “hold” rating to a “sell” rating in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $52.67.

Insider Buying and Selling

In other news, Director Kevin E. Bryant purchased 4,200 shares of Winnebago Industries stock in a transaction dated Monday, March 31st. The shares were bought at an average cost of $34.12 per share, with a total value of $143,304.00. Following the completion of the transaction, the director now directly owns 13,755 shares in the company, valued at $469,320.60. This trade represents a 43.96 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jacqueline D. Woods sold 1,503 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $44.32, for a total value of $66,612.96. Following the completion of the transaction, the director now owns 10,985 shares of the company’s stock, valued at $486,855.20. This represents a 12.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.63% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Winnebago Industries

A number of institutional investors and hedge funds have recently made changes to their positions in WGO. FMR LLC lifted its holdings in Winnebago Industries by 76.0% during the 3rd quarter. FMR LLC now owns 3,623 shares of the construction company’s stock worth $211,000 after purchasing an additional 1,565 shares during the last quarter. State Street Corp lifted its stake in shares of Winnebago Industries by 0.6% in the 3rd quarter. State Street Corp now owns 1,130,796 shares of the construction company’s stock valued at $65,711,000 after acquiring an additional 6,979 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Winnebago Industries by 3.6% during the third quarter. Sanctuary Advisors LLC now owns 7,065 shares of the construction company’s stock valued at $416,000 after purchasing an additional 245 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Winnebago Industries in the third quarter worth $333,000. Finally, JPMorgan Chase & Co. raised its position in shares of Winnebago Industries by 25.4% during the third quarter. JPMorgan Chase & Co. now owns 855,507 shares of the construction company’s stock worth $49,714,000 after acquiring an additional 173,274 shares during the last quarter.

Winnebago Industries Stock Down 1.0 %

The stock’s 50-day moving average is $36.91 and its 200-day moving average is $48.05. The company has a current ratio of 2.58, a quick ratio of 1.34 and a debt-to-equity ratio of 0.51. The company has a market cap of $832.06 million, a price-to-earnings ratio of -44.98 and a beta of 1.49.

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

Winnebago Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be issued a dividend of $0.34 per share. The ex-dividend date is Wednesday, April 16th. This represents a $1.36 dividend on an annualized basis and a yield of 4.58%. Winnebago Industries’s payout ratio is -544.00%.

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.