Winnebago Industries (NYSE:WGO) Downgraded by Zacks Research to Strong Sell

Key Points

• Zacks Research downgraded Winnebago Industries from “hold” to “strong sell.” Despite the downgrade, analysts overall maintain a “hold” consensus, with a $35 average price target.
• Winnebago shares opened at $31.47, down 2.9% on the day. The company reported quarterly earnings of $0.49 per share, and analysts expect full-year EPS of $1.94.
• Company insiders sold 15,694 shares worth about $512,000 over the last quarter, while several investment firms disclosed new or increased stakes.

Winnebago Industries (NYSE:WGO - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Monday, Zacks reports.

Other analysts also recently issued reports about the stock. Raymond James Financial reaffirmed a "market perform" rating on shares of Winnebago Industries in a report on Wednesday, October 21st. Wall Street Zen upgraded shares of Winnebago Industries from a "sell" rating to a "hold" rating in a research report on Saturday, September 12th. BMO Capital Markets decreased their target price on shares of Winnebago Industries from $38.00 to $33.00 and set an "outperform" rating for the company in a research report on Thursday, October 22nd. Seaport Research Partners began coverage on shares of Winnebago Industries in a report on Monday, July 27th. They issued a "neutral" rating on the stock. Finally, Citigroup increased their price target on Winnebago Industries from $24.00 to $28.00 and gave the stock a "neutral" rating in a research report on Thursday, October 22nd. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $35.00.

Winnebago Industries Trading Down 2.9%

Winnebago Industries stock opened at $31.47 on Monday. The company has a quick ratio of 1.04, a current ratio of 2.17 and a debt-to-equity ratio of 0.36. Winnebago Industries has a 52 week low of $21.95 and a 52 week high of $50.16. The company has a market capitalization of $894.89 million, a price-to-earnings ratio of 26.00 and a beta of 1.21. The stock has a 50-day moving average price of $27.49 and a 200 day moving average price of $32.68.

Winnebago Industries (NYSE:WGO - Get Free Report) last issued its earnings results on Tuesday, September 29th. The RV manufacturer reported $0.49 EPS for the quarter. Winnebago Industries had a return on equity of 4.16% and a net margin of 1.28%. Sell-side analysts anticipate that Winnebago Industries will post 1.94 EPS for the current year.

Insider Activity

In other Winnebago Industries news, CEO Michael Happe sold 12,045 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $32.68, for a total transaction of $393,630.60. Following the completion of the sale, the chief executive officer directly owned 349,349 shares in the company, valued at approximately $11,416,725.32. The trade was a 3.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Bret Woodson sold 1,235 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $31.73, for a total value of $39,186.55. Following the transaction, the senior vice president directly owned 31,373 shares of the company's stock, valued at $995,465.29. The trade was a 3.79% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 15,694 shares of company stock worth $511,658. 4.88% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Pzena Investment Management LLC purchased a new stake in shares of Winnebago Industries in the second quarter valued at approximately $53,406,000. Maple Rock Capital Partners Inc. lifted its position in Winnebago Industries by 33.3% during the second quarter. Maple Rock Capital Partners Inc. now owns 1,559,231 shares of the RV manufacturer's stock worth $48,710,000 after buying an additional 389,400 shares in the last quarter. William Blair Investment Management LLC purchased a new position in Winnebago Industries during the second quarter worth approximately $9,545,000. Arrowstreet Capital Limited Partnership lifted its position in Winnebago Industries by 72.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 664,638 shares of the RV manufacturer's stock worth $20,597,000 after buying an additional 280,017 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Winnebago Industries during the second quarter worth $5,881,000.

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 outdoor recreation vehicles under brands including Winnebago, Grand Design, Newmar and Barletta.

Its marine operations produce boats and related products through brands such as Chris-Craft and Barletta. Winnebago's portfolio serves consumers seeking products for travel, camping, boating and other outdoor recreational activities.

Founded in 1958, the company is headquartered in Forest City, Iowa.

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