Winnebago Industries (NYSE:WGO) Shares Gap Down After Earnings Miss

Winnebago Industries, Inc. (NYSE:WGO) gapped down prior to trading 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 trading hands.

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

Winnebago Industries Dividend Announcement

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

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, Director William C. Fisher purchased 2,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was bought at an average cost of $54.81 per share, for a total transaction of $109,620.00. Following the completion of the purchase, the director now directly owns 32,267 shares of the company’s stock, valued at $1,768,554.27. The trade was a 6.61 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael J. Happe acquired 2,500 shares of Winnebago Industries stock in a transaction dated Tuesday, October 29th. The stock was purchased at an average cost of $55.52 per share, for a total transaction of $138,800.00. Following the completion of the purchase, the chief executive officer now directly owns 285,953 shares in the company, valued at approximately $15,876,110.56. This represents a 0.88 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.63% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new position in Winnebago Industries in the 3rd quarter worth approximately $333,000. Sanctuary Advisors LLC grew its position in shares of Winnebago Industries by 3.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 7,065 shares of the construction company’s stock valued at $416,000 after buying an additional 245 shares during the last quarter. TT International Asset Management LTD raised its stake in Winnebago Industries by 641.8% during the third quarter. TT International Asset Management LTD now owns 52,903 shares of the construction company’s stock worth $3,074,000 after acquiring an additional 45,771 shares during the period. Vestcor Inc lifted its holdings in Winnebago Industries by 105.6% in the third quarter. Vestcor Inc now owns 17,205 shares of the construction company’s stock worth $1,000,000 after acquiring an additional 8,837 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Winnebago Industries in the third quarter valued at approximately $616,000.

Winnebago Industries Price Performance

The company has a debt-to-equity ratio of 0.50, a current ratio of 2.44 and a quick ratio of 1.36. The company has a fifty day moving average price of $57.85 and a 200 day moving average price of $57.38. The company has a market capitalization of $1.47 billion, a P/E ratio of 169.17 and a beta of 1.60.

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.