Truist Financial Cuts Winnebago Industries (NYSE:WGO) Price Target to $50.00

Winnebago Industries (NYSE:WGO) had its target price reduced by Truist Financial from $58.00 to $50.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other brokerages also recently issued reports on WGO. 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. StockNews.com raised Winnebago Industries from a “sell” rating to a “hold” rating in a report on Tuesday, March 25th. BMO Capital Markets decreased their price objective on Winnebago Industries from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday. Benchmark reiterated a “buy” rating and set a $70.00 price objective on shares of Winnebago Industries in a research report on Monday, December 23rd. Finally, KeyCorp reduced their target price on shares of Winnebago Industries from $58.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Winnebago Industries Stock Down 7.5 %

Winnebago Industries stock opened at $34.74 on Friday. The firm has a market capitalization of $986.60 million, a price-to-earnings ratio of -52.64 and a beta of 1.70. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.34 and a current ratio of 2.58. Winnebago Industries has a fifty-two week low of $33.62 and a fifty-two week high of $74.00. The stock’s fifty day moving average is $41.45 and its two-hundred day moving average is $50.57.

Winnebago Industries (NYSE:WGO) last issued its quarterly earnings data on Thursday, March 27th. The construction company reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. The firm had revenue of $620.20 million for the quarter, compared to analysts’ expectations of $621.41 million. Winnebago Industries had a negative net margin of 0.63% and a positive return on equity of 5.32%. The firm’s revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.93 EPS. Analysts predict that Winnebago Industries will post 3.41 EPS for the current fiscal year.

Winnebago Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend is Wednesday, April 16th. Winnebago Industries’s dividend payout ratio is currently -206.06%.

Insider Transactions at Winnebago Industries

In related news, Director Jacqueline D. Woods sold 1,503 shares of the company’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 transaction of $66,612.96. Following the completion of the transaction, the director now owns 10,985 shares of the company’s stock, valued at approximately $486,855.20. This represents a 12.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.63% of the company’s stock.

Hedge Funds Weigh In On Winnebago Industries

A number of hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised 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 worth $25,000 after buying an additional 390 shares during the period. Quarry LP increased 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 acquiring an additional 848 shares during the last quarter. Sterling Capital Management LLC raised its holdings in shares of Winnebago Industries by 823.5% in the 4th quarter. Sterling Capital Management LLC now owns 905 shares of the construction company’s stock worth $43,000 after purchasing an additional 807 shares during the period. R Squared Ltd acquired a new position in shares of Winnebago Industries in the 4th quarter valued at about $43,000. Finally, KBC Group NV lifted its stake in shares of Winnebago Industries by 64.5% in the 4th quarter. KBC Group NV now owns 1,497 shares of the construction company’s stock valued at $72,000 after purchasing an additional 587 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.