Winnebago Industries (NYSE:WGO) Trading Down 4.1% – Here’s Why

Shares of Winnebago Industries, Inc. (NYSE:WGO) dropped 4.1% during trading on Thursday . The company traded as low as $27.49 and last traded at $27.6130. Approximately 15,189 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 632,635 shares. The stock had previously closed at $28.80.

Analyst Upgrades and Downgrades

WGO has been the topic of a number of research reports. Robert W. Baird cut their target price on shares of Winnebago Industries from $48.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, March 26th. Citigroup downgraded shares of Winnebago Industries from a “buy” rating to a “neutral” rating and cut their target price for the company from $46.00 to $30.00 in a research note on Wednesday, May 27th. Truist Financial cut their target price on shares of Winnebago Industries from $47.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Weiss Ratings downgraded shares of Winnebago Industries from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Finally, BMO Capital Markets cut their target price on shares of Winnebago Industries from $55.00 to $48.00 and set an “outperform” rating on the stock in a research note on Thursday, March 26th. Three analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $40.70.

Winnebago Industries Stock Performance

The stock’s 50 day moving average price is $30.68 and its 200 day moving average price is $37.38. The company has a current ratio of 2.30, a quick ratio of 0.99 and a debt-to-equity ratio of 0.36. The firm has a market cap of $828.06 million, a PE ratio of 19.93 and a beta of 1.12.

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

Winnebago Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, June 10th. Winnebago Industries’s dividend payout ratio (DPR) is presently 95.24%.

Institutional Investors Weigh In On Winnebago Industries

A number of large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its holdings in Winnebago Industries by 39.3% during the 1st quarter. California State Teachers Retirement System now owns 37,104 shares of the RV manufacturer’s stock valued at $1,150,000 after purchasing an additional 10,476 shares in the last quarter. Empowered Funds LLC grew its holdings in Winnebago Industries by 31.7% during the 1st quarter. Empowered Funds LLC now owns 137,546 shares of the RV manufacturer’s stock valued at $4,263,000 after purchasing an additional 33,085 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Winnebago Industries by 41.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 11,562 shares of the RV manufacturer’s stock valued at $358,000 after purchasing an additional 3,404 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Winnebago Industries by 72.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 664,638 shares of the RV manufacturer’s stock valued at $20,597,000 after purchasing an additional 280,017 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in Winnebago Industries by 31.6% during the 1st quarter. Sei Investments Co. now owns 168,204 shares of the RV manufacturer’s stock valued at $5,213,000 after purchasing an additional 40,429 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.