Citigroup Issues Pessimistic Forecast for Winnebago Industries (NYSE:WGO) Stock Price

Key Points

• Citigroup cut Winnebago Industries’ price target from $29 to $24 while maintaining a “neutral” rating, implying only 3.58% upside from the prior close.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating, with three Buy ratings and nine Holds, and an average price target of $35.67.
• WGO shares traded near their 52-week low at $23.17, well below the 50-day and 200-day moving averages; company insiders have also sold $511,658 worth of shares over the past three months.

Winnebago Industries (NYSE:WGO - Get Free Report) had its target price cut by research analysts at Citigroup from $29.00 to $24.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a "neutral" rating on the RV manufacturer's stock. Citigroup's price objective indicates a potential upside of 3.58% from the company's previous close.

WGO has been the subject of a number of other reports. Weiss Ratings restated a "hold (c-)" rating on shares of Winnebago Industries in a report on Friday, August 7th. Truist Financial decreased their price target on shares of Winnebago Industries from $43.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, July 8th. DA Davidson reaffirmed a "neutral" rating and issued a $35.00 price target on shares of Winnebago Industries in a report on Monday, June 15th. Zacks Research upgraded Winnebago Industries from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 1st. Finally, Roth Capital reduced their price objective on Winnebago Industries from $38.00 to $32.00 and set a "neutral" rating for the company in a research note on Tuesday, June 23rd. Three research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, Winnebago Industries currently has a consensus rating of "Hold" and an average price target of $35.67.

Winnebago Industries Price Performance

Shares of WGO traded down $0.04 during midday trading on Tuesday, reaching $23.17. The stock had a trading volume of 619,190 shares, compared to its average volume of 645,693. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.37 and a quick ratio of 0.92. The company has a market capitalization of $655.02 million, a P/E ratio of 17.04 and a beta of 1.18. The firm's 50 day moving average price is $29.05 and its 200-day moving average price is $30.02. Winnebago Industries has a 52 week low of $22.88 and a 52 week high of $50.16.

Insider Buying and Selling at Winnebago Industries

In other Winnebago Industries news, SVP Bret A. Woodson sold 2,414 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $32.66, for a total value of $78,841.24. Following the completion of the sale, the senior vice president owned 31,274 shares in the company, valued at $1,021,408.84. This represents a 7.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Happe sold 12,045 shares of the business's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $32.68, for a total transaction of $393,630.60. Following the transaction, the chief executive officer owned 349,349 shares in the company, valued at approximately $11,416,725.32. This represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 15,694 shares of company stock worth $511,658 over the last three months. 4.88% of the stock is owned by insiders.

Institutional Investors Weigh In On Winnebago Industries

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Winnebago Industries by 145.2% during the 3rd quarter. GAMMA Investing LLC now owns 954 shares of the RV manufacturer's stock valued at $25,000 after purchasing an additional 565 shares during the period. Allworth Financial LP acquired a new stake in Winnebago Industries in the 2nd quarter valued at approximately $33,000. Versant Capital Management Inc increased its position in Winnebago Industries by 365.6% in the 3rd quarter. Versant Capital Management Inc now owns 1,313 shares of the RV manufacturer's stock worth $35,000 after buying an additional 1,031 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in Winnebago Industries in the 2nd quarter worth approximately $74,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Winnebago Industries during the second quarter worth approximately $91,000.

About Winnebago Industries

Winnebago Industries, Inc is a manufacturer of recreational vehicles and marine products. The company designs and produces motorhomes, travel trailers, fifth-wheel trailers and other towable recreational vehicles sold under brands including Winnebago, Grand Design, Newmar and other affiliated names.

Through its marine businesses, Winnebago also manufactures recreational boats under brands such as Chris-Craft and Barletta. Its products are distributed primarily through independent dealers and serve consumers seeking travel, outdoor recreation and leisure-oriented transportation.

Founded in 1958 and based in Forest City, Iowa, the company has expanded from its original motorhome business into a broader recreational products organization.

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