Winnebago Industries (NYSE:WGO) Sets New 52-Week Low – Here’s Why

Shares of Winnebago Industries, Inc. (NYSE:WGO) hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $26.25 and last traded at $26.32, with a volume of 190062 shares traded. The stock had previously closed at $27.01.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Truist Financial decreased their target price on Winnebago Industries from $43.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Zacks Research raised shares of Winnebago Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 1st. Benchmark reduced their price target on shares of Winnebago Industries from $48.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, June 23rd. Seaport Research Partners assumed coverage on Winnebago Industries in a research note on Monday, July 27th. They issued a “neutral” rating for the company. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Winnebago Industries in a report on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $36.22.

Winnebago Industries Trading Down 2.6%

The stock’s 50 day moving average price is $30.21 and its 200-day moving average price is $30.63. The stock has a market capitalization of $743.64 million, a P/E ratio of 19.35 and a beta of 1.12. The company has a quick ratio of 0.92, a current ratio of 2.37 and a debt-to-equity ratio of 0.36.

Winnebago Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 9th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, September 9th. This is a positive change from Winnebago Industries’s previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a dividend yield of 5.5%. Winnebago Industries’s payout ratio is currently 105.88%.

Insider Buying and Selling

In related news, SVP Bret Woodson sold 2,414 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $32.66, for a total transaction of $78,841.24. Following the completion of the transaction, the senior vice president owned 31,274 shares in the company, valued at $1,021,408.84. The trade was a 7.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction, the chief executive officer owned 349,349 shares of the company’s stock, valued at approximately $11,416,725.32. This trade represents a 3.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 15,694 shares of company stock worth $511,658. Insiders own 4.88% of the company’s stock.

Institutional Investors Weigh In On Winnebago Industries

A number of large investors have recently made changes to their positions in WGO. Pzena Investment Management LLC acquired a new position in Winnebago Industries in the second quarter valued at approximately $53,406,000. Deprince Race & Zollo Inc. raised its position in Winnebago Industries by 300.6% during the first quarter. Deprince Race & Zollo Inc. now owns 573,448 shares of the RV manufacturer’s stock worth $17,771,000 after acquiring an additional 430,300 shares during the period. Maple Rock Capital Partners Inc. lifted its holdings 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 valued at $48,710,000 after purchasing an additional 389,400 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Winnebago Industries in the second quarter valued at about $9,545,000. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Winnebago Industries by 72.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 664,638 shares of the RV manufacturer’s stock valued at $20,597,000 after purchasing an additional 280,017 shares during the period.

About Winnebago Industries

Winnebago Industries, Inc is a manufacturer of recreational vehicles and marine products headquartered in Forest City, Iowa. Founded in 1958, the company initially became known for producing motorhomes under the Winnebago brand and has since expanded into a broad portfolio of recreational lifestyle products.

The company manufactures motorhomes, travel trailers, fifth-wheel trailers, and other towable recreational vehicles. Its brand portfolio includes Winnebago, Grand Design, Newmar, Chris-Craft, and Barletta, offering products that range from entry-level and premium RVs to luxury motor yachts and pontoon boats.

Winnebago serves customers primarily through independent dealers in the United States and Canada, with products also distributed in select international markets.