Winnebago Industries (NYSE:WGO) Shares Gap Down - Here's What Happened

Winnebago Industries, Inc. (NYSE:WGO - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $31.33, but opened at $30.44. Winnebago Industries shares last traded at $30.60, with a volume of 173,315 shares traded.

Wall Street Analysts Forecast Growth

WGO has been the subject of a number of recent analyst reports. Wall Street Zen cut Winnebago Industries from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Baird R W cut Winnebago Industries from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Truist Financial reduced their price objective on Winnebago Industries from $40.00 to $36.00 and set a "buy" rating for the company in a research report on Thursday. Roth Capital reduced their price objective on Winnebago Industries from $37.00 to $30.00 and set a "neutral" rating for the company in a research report on Thursday. Finally, KeyCorp reduced their price objective on Winnebago Industries from $37.00 to $34.00 and set an "overweight" rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Winnebago Industries presently has an average rating of "Hold" and an average target price of $44.33.

Winnebago Industries Price Performance

The company's 50 day moving average price is $33.09 and its 200 day moving average price is $39.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.94 and a current ratio of 2.41. The company has a market cap of $820.13 million, a price-to-earnings ratio of -49.59 and a beta of 1.07.

Winnebago Industries (NYSE:WGO - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The construction company reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.02. The firm had revenue of $775.10 million for the quarter, compared to analyst estimates of $808.15 million. Winnebago Industries had a negative net margin of 0.62% and a positive return on equity of 2.86%. The company's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.13 earnings per share. On average, equities research analysts predict that Winnebago Industries, Inc. will post 3.41 earnings per share for the current fiscal year.

Winnebago Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 11th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 4.65%. The ex-dividend date was Wednesday, June 11th. Winnebago Industries's payout ratio is -230.51%.

Insider Transactions at Winnebago Industries

In other Winnebago Industries news, Director Kevin E. Bryant bought 4,200 shares of the stock in a transaction dated Monday, March 31st. The stock was bought at an average cost of $34.12 per share, for a total transaction of $143,304.00. Following the completion of the purchase, the director now owns 13,755 shares in the company, valued at $469,320.60. This represents a 43.96% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.63% of the company's stock.

Institutional Trading of Winnebago Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vident Advisory LLC increased its stake in shares of Winnebago Industries by 2.9% in the first quarter. Vident Advisory LLC now owns 12,373 shares of the construction company's stock valued at $426,000 after buying an additional 352 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Winnebago Industries by 270.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 534 shares of the construction company's stock valued at $25,000 after buying an additional 390 shares in the last quarter. Swiss National Bank increased its stake in shares of Winnebago Industries by 0.7% in the fourth quarter. Swiss National Bank now owns 56,900 shares of the construction company's stock valued at $2,719,000 after buying an additional 400 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Winnebago Industries by 2.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,485 shares of the construction company's stock valued at $568,000 after buying an additional 401 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Winnebago Industries by 5.5% in the first quarter. Royal Bank of Canada now owns 9,568 shares of the construction company's stock valued at $329,000 after buying an additional 498 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.