Winnebago Industries (NYSE:WGO) Shares Gap Up – Here’s Why

Winnebago Industries, Inc. (NYSE:WGO)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $47.55, but opened at $49.00. Winnebago Industries shares last traded at $47.52, with a volume of 65,393 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on WGO shares. KeyCorp upgraded Winnebago Industries from a “sector weight” rating to an “overweight” rating and set a $58.00 price objective on the stock in a report on Wednesday. DA Davidson dropped their price objective on shares of Winnebago Industries from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Tuesday, December 24th. Robert W. Baird reduced their target price on shares of Winnebago Industries from $70.00 to $64.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Northcoast Research upgraded 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. Finally, Truist Financial decreased their target price on Winnebago Industries from $64.00 to $56.00 and set a “buy” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.78.

Winnebago Industries Stock Down 5.5 %

The company has a market capitalization of $1.30 billion, a PE ratio of 152.71 and a beta of 1.62. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.36 and a current ratio of 2.44. The firm has a fifty day simple moving average of $55.16 and a 200-day simple moving average of $56.37.

Winnebago Industries (NYSE:WGO) last posted its quarterly earnings data on Friday, December 20th. The construction company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.23). The company had revenue of $625.60 million for the quarter, compared to the consensus estimate of $672.23 million. Winnebago Industries had a net margin of 0.44% and a return on equity of 7.97%. The company’s revenue was down 18.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 earnings per share. Equities research analysts anticipate that Winnebago Industries, Inc. will post 3.52 EPS for the current fiscal year.

Winnebago Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Wednesday, January 15th. Winnebago Industries’s payout ratio is currently -206.06%.

Insiders Place Their Bets

In other Winnebago Industries news, 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 sale, the senior vice president now directly owns 23,728 shares of the company’s stock, valued at $1,343,953.92. This trade represents a 33.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Happe purchased 2,500 shares of Winnebago Industries stock in a transaction dated Tuesday, October 29th. The shares were purchased at an average cost of $55.52 per share, with a total value of $138,800.00. Following the acquisition, the chief executive officer now owns 285,953 shares of the company’s stock, valued at approximately $15,876,110.56. This trade represents a 0.88 % increase in their position. The disclosure for this purchase can be found here. 4.63% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Winnebago Industries

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. boosted its stake in Winnebago Industries by 47.8% during the 2nd quarter. Pacer Advisors Inc. now owns 1,431,764 shares of the construction company’s stock valued at $77,602,000 after purchasing an additional 463,257 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Winnebago Industries by 1,772.8% in the second quarter. Millennium Management LLC now owns 210,504 shares of the construction company’s stock valued at $11,409,000 after buying an additional 199,264 shares during the period. Edgestream Partners L.P. bought a new position in Winnebago Industries during the second quarter valued at about $9,708,000. JPMorgan Chase & Co. grew its holdings in Winnebago Industries by 25.4% during the third quarter. JPMorgan Chase & Co. now owns 855,507 shares of the construction company’s stock worth $49,714,000 after acquiring an additional 173,274 shares during the period. Finally, Janus Henderson Group PLC raised its position in Winnebago Industries by 1,242.6% in the third quarter. Janus Henderson Group PLC now owns 181,579 shares of the construction company’s stock worth $10,552,000 after acquiring an additional 168,055 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.