Winnebago Industries (NYSE:WGO) Shares Gap Down Following Weak Earnings

Winnebago Industries, Inc. (NYSE:WGO) shares gapped down before the market opened on Friday following a dissappointing earnings announcement. The stock had previously closed at $51.93, but opened at $50.00. Winnebago Industries shares last traded at $52.20, with a volume of 125,070 shares traded.

The construction company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.23). The business had revenue of $625.60 million for the quarter, compared to analyst estimates of $672.23 million. Winnebago Industries had a return on equity of 7.97% and a net margin of 0.44%. The firm’s revenue was down 18.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 earnings per share.

Winnebago Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 15th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Wednesday, January 15th. Winnebago Industries’s dividend payout ratio is 453.33%.

Analysts Set New Price Targets

A number of analysts have commented on WGO shares. Northcoast Research raised shares of Winnebago Industries from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Monday, November 11th. Benchmark dropped their price target on shares of Winnebago Industries from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Robert W. Baird lowered their price objective on Winnebago Industries from $70.00 to $64.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Truist Financial cut their target price on Winnebago Industries from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, StockNews.com lowered Winnebago Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $68.13.

Insiders Place Their Bets

In other news, SVP Bret A. Woodson sold 12,187 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $56.64, for a total transaction of $690,271.68. Following the completion of the sale, the senior vice president now owns 23,728 shares of the company’s stock, valued at $1,343,953.92. This represents a 33.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Happe bought 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were acquired at an average price of $55.52 per share, with a total value of $138,800.00. Following the completion of the transaction, the chief executive officer now directly owns 285,953 shares of the company’s stock, valued at $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 owned by corporate insiders.

Institutional Investors Weigh In On Winnebago Industries

A number of hedge funds have recently bought and sold shares of WGO. Assenagon Asset Management S.A. increased its position in shares of Winnebago Industries by 13.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 34,495 shares of the construction company’s stock valued at $1,870,000 after purchasing an additional 4,103 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Winnebago Industries by 1.4% during the second quarter. Louisiana State Employees Retirement System now owns 14,700 shares of the construction company’s stock valued at $797,000 after buying an additional 200 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Winnebago Industries by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 376,829 shares of the construction company’s stock valued at $20,424,000 after acquiring an additional 1,681 shares during the period. Legato Capital Management LLC purchased a new stake in Winnebago Industries in the second quarter worth $490,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Winnebago Industries by 12.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,554 shares of the construction company’s stock worth $355,000 after acquiring an additional 711 shares in the last quarter.

Winnebago Industries Trading Down 2.3 %

The company has a market capitalization of $1.47 billion, a PE ratio of 169.17 and a beta of 1.60. The stock’s 50 day moving average is $57.85 and its two-hundred day moving average is $57.38. The company has a quick ratio of 1.36, a current ratio of 2.44 and a debt-to-equity ratio of 0.50.

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.