Winnebago Industries (NYSE:WGO) Shares Gap Up Following Earnings Beat

Winnebago Industries, Inc. (NYSE:WGO)’s stock price gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $23.17, but opened at $24.77. Winnebago Industries shares last traded at $24.7150, with a volume of 194,890 shares.

The RV manufacturer reported $0.49 EPS for the quarter. Winnebago Industries had a return on equity of 4.65% and a net margin of 1.36%.

Winnebago Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 9th were paid a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a $1.44 annualized dividend and a yield of 5.8%. This is an increase from Winnebago Industries’s previous quarterly dividend of $0.35. Winnebago Industries’s dividend payout ratio is presently 105.88%.

Analysts Set New Price Targets

Several analysts have recently commented on WGO shares. Wall Street Zen upgraded shares of Winnebago Industries from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. KeyCorp reaffirmed a “sector weight” rating on shares of Winnebago Industries in a report on Friday, June 26th. Weiss Ratings lowered shares of Winnebago Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 14th. Seaport Research Partners started coverage on shares of Winnebago Industries in a report on Monday, July 27th. They set a “neutral” rating for the company. Finally, Truist Financial cut their price target on shares of Winnebago Industries from $43.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $35.67.

Insider Transactions at Winnebago Industries

In related news, SVP Bret Woodson sold 1,235 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $31.73, for a total transaction of $39,186.55. Following the sale, the senior vice president owned 31,373 shares of the company’s stock, valued at approximately $995,465.29. The trade was a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 company’s stock in a transaction dated 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 in the company, valued at $11,416,725.32. The trade was a 3.33% decrease in their ownership of the stock. 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 three months, insiders have sold 15,694 shares of company stock worth $511,658. 4.88% of the stock is owned by insiders.

Institutional Investors Weigh In On Winnebago Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Pzena Investment Management LLC acquired a new stake in shares of Winnebago Industries in the 2nd quarter worth approximately $53,406,000. Dimensional Fund Advisors LP increased its stake in Winnebago Industries by 8.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,580,068 shares of the RV manufacturer’s stock valued at $48,968,000 after purchasing an additional 129,228 shares in the last quarter. Maple Rock Capital Partners Inc. increased its stake in Winnebago Industries by 33.3% in the 2nd 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. Arrowstreet Capital Limited Partnership increased its stake in Winnebago Industries by 72.8% in the 1st 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 in the last quarter. Finally, Deprince Race & Zollo Inc. increased its stake in Winnebago Industries by 300.6% in the 1st quarter. Deprince Race & Zollo Inc. now owns 573,448 shares of the RV manufacturer’s stock valued at $17,771,000 after purchasing an additional 430,300 shares in the last quarter.

Winnebago Industries Stock Performance

The firm has a fifty day moving average of $28.02 and a 200-day moving average of $29.68. The stock has a market capitalization of $701.15 million, a price-to-earnings ratio of 18.26 and a beta of 1.18. 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 Company Profile

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.