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

Winnebago Industries (NYSE:WGO) had its price target trimmed by 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.

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

Winnebago Industries Price Performance

Shares of NYSE:WGO opened at $48.57 on Tuesday. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 161.91 and a beta of 1.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.44 and a quick ratio of 1.36. The business’s 50 day simple moving average is $55.16 and its 200-day simple moving average is $56.37. Winnebago Industries has a 12 month low of $45.44 and a 12 month high of $74.10.

Winnebago Industries (NYSE:WGO) last posted 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). 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 analysts’ expectations of $672.23 million. During the same quarter in the previous year, the firm posted $1.06 earnings per share. The firm’s revenue for the quarter was down 18.0% compared to the same quarter last year. As a group, equities analysts forecast that Winnebago Industries will post 3.52 earnings per share for the current fiscal year.

Winnebago Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 15th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Wednesday, January 15th. Winnebago Industries’s dividend payout ratio is currently -206.06%.

Insider Buying and Selling

In other news, CEO Michael J. Happe acquired 2,500 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was acquired at an average cost of $55.52 per share, for a total transaction of $138,800.00. Following the acquisition, the chief executive officer now directly owns 285,953 shares in the company, valued at approximately $15,876,110.56. This represents a 0.88 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Bret A. Woodson sold 12,187 shares of the 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 completion of the transaction, the senior vice president now directly owns 23,728 shares in the company, valued at $1,343,953.92. This trade represents a 33.93 % 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 company insiders.

Institutional Investors Weigh In On Winnebago Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of Winnebago Industries by 222.5% in the 3rd quarter. GAMMA Investing LLC now owns 458 shares of the construction company’s stock valued at $27,000 after purchasing an additional 316 shares in the last quarter. Sound Income Strategies LLC lifted its position in Winnebago Industries by 69.1% during the third quarter. Sound Income Strategies LLC now owns 700 shares of the construction company’s stock valued at $41,000 after buying an additional 286 shares in the last quarter. Quarry LP grew its stake in Winnebago Industries by 4,038.1% during the third quarter. Quarry LP now owns 869 shares of the construction company’s stock worth $50,000 after buying an additional 848 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Winnebago Industries by 196.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,492 shares of the construction company’s stock worth $86,000 after acquiring an additional 989 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Winnebago Industries in the 2nd quarter valued at $110,000.

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.