Winnebago Industries (NYSE:WGO) Cut to Neutral at Citigroup

Winnebago Industries (NYSE:WGO) was downgraded by investment analysts at Citigroup from a “buy” rating to a “neutral” rating in a report issued on Wednesday. They currently have a $30.00 price target on the RV manufacturer’s stock. Citigroup’s price objective indicates a potential upside of 0.81% from the company’s previous close.

A number of other research firms also recently weighed in on WGO. Wall Street Zen downgraded Winnebago Industries from a “buy” rating to a “hold” rating in a research report on Sunday. Truist Financial reduced their price objective on Winnebago Industries from $47.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. BMO Capital Markets decreased their price objective on Winnebago Industries from $55.00 to $48.00 and set an “outperform” rating on the stock in a report on Thursday, March 26th. Robert W. Baird lowered their price objective on Winnebago Industries from $48.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, March 26th. Finally, Weiss Ratings lowered Winnebago Industries from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $40.70.

Winnebago Industries Price Performance

NYSE:WGO opened at $29.76 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.30 and a quick ratio of 0.99. Winnebago Industries has a one year low of $27.64 and a one year high of $50.16. The company has a fifty day moving average price of $31.70 and a 200 day moving average price of $37.89. The stock has a market cap of $841.32 million, a P/E ratio of 20.24 and a beta of 1.17.

Winnebago Industries (NYSE:WGO) last posted its quarterly earnings results on Wednesday, March 25th. The RV manufacturer reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. Winnebago Industries had a net margin of 1.43% and a return on equity of 4.99%. The company had revenue of $657.40 million for the quarter, compared to analyst estimates of $628.00 million. During the same period last year, the business posted $0.19 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts anticipate that Winnebago Industries will post 2.34 earnings per share for the current year.

Hedge Funds Weigh In On Winnebago Industries

Several hedge funds and other institutional investors have recently modified their holdings of WGO. Northwestern Mutual Wealth Management Co. boosted its stake in Winnebago Industries by 90.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 766 shares of the RV manufacturer’s stock valued at $26,000 after buying an additional 364 shares in the last quarter. Clearstead Advisors LLC acquired a new position in Winnebago Industries during the fourth quarter worth $35,000. Hantz Financial Services Inc. lifted its holdings in shares of Winnebago Industries by 825.4% during the third quarter. Hantz Financial Services Inc. now owns 1,203 shares of the RV manufacturer’s stock valued at $40,000 after acquiring an additional 1,073 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Winnebago Industries by 15.9% during the third quarter. Public Employees Retirement System of Ohio now owns 2,255 shares of the RV manufacturer’s stock valued at $75,000 after acquiring an additional 309 shares during the period. Finally, Aster Capital Management DIFC Ltd boosted its stake in shares of Winnebago Industries by 3,661.8% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,558 shares of the RV manufacturer’s stock valued at $104,000 after purchasing an additional 2,490 shares in the last quarter.

About Winnebago Industries

Winnebago Industries, Inc is a leading manufacturer of recreational vehicles (RVs) and specialty vehicles, headquartered in Forest City, Iowa. Since its founding in 1958, the company has gained recognition for its motorhomes, travel trailers and fifth-wheel products under the Winnebago and Grand Design brands. Its portfolio also includes towable RVs, camper vans and commercial vehicles tailored for healthcare, government and mobile retail applications.

In addition to vehicle production, Winnebago Industries maintains an extensive dealer and service network across the United States and Canada, supplemented by parts distribution centers and customer support resources.