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

Shares of Winnebago Industries, Inc. (NYSE:WGO) gapped up before the market opened on Thursday . The stock had previously closed at $34.76, but opened at $38.20. Winnebago Industries shares last traded at $36.11, with a volume of 329,441 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WGO. DA Davidson cut their target price on shares of Winnebago Industries from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 24th. Citigroup cut their price objective on Winnebago Industries from $51.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. Truist Financial boosted their price target on Winnebago Industries from $56.00 to $58.00 and gave the company a “buy” rating in a report on Monday, February 10th. KeyCorp dropped their price target on Winnebago Industries from $58.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Finally, Benchmark reiterated a “buy” rating and set a $70.00 target price on shares of Winnebago Industries in a research note on Monday, December 23rd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Winnebago Industries presently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

Winnebago Industries Stock Up 4.9 %

The firm’s 50 day simple moving average is $41.93 and its 200 day simple moving average is $50.87. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -55.25 and a beta of 1.70. The company has a quick ratio of 1.34, a current ratio of 2.58 and a debt-to-equity ratio of 0.51.

Winnebago Industries (NYSE:WGO) last posted its earnings results on Thursday, March 27th. The construction company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.04). Winnebago Industries had a negative net margin of 0.63% and a positive return on equity of 5.32%. The business had revenue of $620.20 million during the quarter, compared to analyst estimates of $621.41 million. During the same quarter in the prior year, the business earned $0.93 earnings per share. The firm’s revenue was down 11.9% compared to the same quarter last year. Sell-side analysts anticipate that Winnebago Industries, Inc. will post 3.41 EPS for the current fiscal year.

Winnebago Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.73%. The ex-dividend date is Wednesday, April 16th. Winnebago Industries’s payout ratio is currently -206.06%.

Insider Activity at Winnebago Industries

In other 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 value of $66,612.96. Following the completion of the sale, the director now directly owns 10,985 shares of the company’s stock, valued at approximately $486,855.20. This represents a 12.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Winnebago Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its stake in Winnebago Industries by 270.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 534 shares of the construction company’s stock valued at $25,000 after purchasing an additional 390 shares in the last quarter. Quarry LP boosted 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 valued at $50,000 after buying an additional 848 shares in the last quarter. Sterling Capital Management LLC boosted its stake in Winnebago Industries by 823.5% during the fourth quarter. Sterling Capital Management LLC now owns 905 shares of the construction company’s stock valued at $43,000 after buying an additional 807 shares in the last quarter. R Squared Ltd acquired a new position in Winnebago Industries during the fourth quarter worth about $43,000. Finally, KBC Group NV raised its position in Winnebago Industries by 64.5% in the fourth quarter. KBC Group NV now owns 1,497 shares of the construction company’s stock worth $72,000 after acquiring an additional 587 shares in the last quarter.

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.