Winnebago Industries (NYSE:WGO) Shares Gap Down – Here’s What Happened

Winnebago Industries, Inc. (NYSE:WGO)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $31.33, but opened at $30.44. Winnebago Industries shares last traded at $30.60, with a volume of 173,315 shares changing hands.

Analysts Set New Price Targets

WGO has been the topic of a number of analyst reports. DA Davidson raised Winnebago Industries to a “hold” rating in a research report on Monday, April 14th. Citigroup lowered their price objective on Winnebago Industries from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday. Wall Street Zen downgraded Winnebago Industries from a “hold” rating to a “sell” rating in a report on Saturday, June 21st. Robert W. Baird reduced their target price on Winnebago Industries from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Truist Financial decreased their price target on shares of Winnebago Industries from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday. One 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $44.33.

Winnebago Industries Stock Up 1.5%

The stock has a market cap of $802.94 million, a P/E ratio of -48.57 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.41 and a quick ratio of 0.94. The stock’s fifty day simple moving average is $33.12 and its 200-day simple moving average is $39.21.

Winnebago Industries (NYSE:WGO) last released its quarterly earnings data on Wednesday, June 25th. The construction company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.02. The business had revenue of $775.10 million for the quarter, compared to analysts’ expectations of $808.15 million. Winnebago Industries had a negative net margin of 0.62% and a positive return on equity of 2.86%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.13 EPS. On average, research analysts anticipate that Winnebago Industries, Inc. will post 3.41 earnings per share for the current year.

Winnebago Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 11th were paid a $0.34 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $1.36 annualized dividend and a dividend yield of 4.75%. Winnebago Industries’s payout ratio is currently -230.51%.

Insider Transactions at Winnebago Industries

In related news, Director Kevin E. Bryant acquired 4,200 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were acquired at an average cost of $34.12 per share, for a total transaction of $143,304.00. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.63% of the company’s stock.

Hedge Funds Weigh In On Winnebago Industries

Several large investors have recently bought and sold shares of the stock. Rhumbline Advisers boosted its position in shares of Winnebago Industries by 2.2% during the 4th quarter. Rhumbline Advisers now owns 96,821 shares of the construction company’s stock valued at $4,626,000 after purchasing an additional 2,077 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Winnebago Industries by 4.9% during the fourth quarter. Principal Financial Group Inc. now owns 165,680 shares of the construction company’s stock valued at $7,916,000 after purchasing an additional 7,689 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Winnebago Industries during the fourth quarter valued at $632,000. Smartleaf Asset Management LLC boosted its position in shares of Winnebago Industries by 270.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 534 shares of the construction company’s stock valued at $25,000 after purchasing an additional 390 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Winnebago Industries by 8.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 625,548 shares of the construction company’s stock worth $29,889,000 after purchasing an additional 50,634 shares in the last quarter.

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.