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

Zacks Research cut shares of Winnebago Industries (NYSE:WGO) from a hold rating to a strong sell rating in a report issued on Monday,Zacks reports.

WGO has been the subject of several other reports. Seaport Research Partners initiated coverage on shares of Winnebago Industries in a report on Monday, July 27th. They set a “neutral” rating for the company. Citigroup upped their price target on shares of Winnebago Industries from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, October 22nd. Raymond James Financial reiterated a “market perform” rating on shares of Winnebago Industries in a research note on Wednesday, October 21st. Weiss Ratings downgraded Winnebago Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 14th. Finally, Wall Street Zen upgraded Winnebago Industries from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Winnebago Industries presently has a consensus rating of “Hold” and an average price target of $35.00.

Winnebago Industries Stock Performance

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

Winnebago Industries (NYSE:WGO) last posted its quarterly earnings results on Tuesday, September 29th. The RV manufacturer reported $0.49 earnings per share for the quarter. Winnebago Industries had a return on equity of 4.16% and a net margin of 1.28%. Research analysts expect that Winnebago Industries will post 1.94 EPS for the current fiscal year.

Winnebago Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 9th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.6%. This is a boost from Winnebago Industries’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, September 9th. Winnebago Industries’s dividend payout ratio (DPR) is 119.01%.

Insider Activity

In other Winnebago Industries news, CEO Michael Happe sold 12,045 shares of the company’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 value of $393,630.60. Following the completion of the transaction, the chief executive officer owned 349,349 shares of the company’s stock, valued at $11,416,725.32. This represents a 3.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Bret Woodson sold 2,414 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was 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 of the company’s stock, valued at $1,021,408.84. This represents a 7.17% 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. Insiders have sold 15,694 shares of company stock worth $511,658 over the last 90 days. Corporate insiders own 4.88% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WGO. Pzena Investment Management LLC bought a new stake in Winnebago Industries in the 2nd quarter valued at $53,406,000. Maple Rock Capital Partners Inc. raised its stake in shares of 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 buying an additional 389,400 shares in the last quarter. William Blair Investment Management LLC bought a new stake in Winnebago Industries in the second quarter valued at about $9,545,000. Arrowstreet Capital Limited Partnership increased its stake in 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 acquiring an additional 280,017 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Winnebago Industries in the second quarter worth about $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.