Citigroup Cuts Winnebago Industries (NYSE:WGO) Price Target to $43.00

Winnebago Industries (NYSE:WGO - Get Free Report) had its price objective lowered by equities research analysts at Citigroup from $51.00 to $43.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. Citigroup's target price points to a potential upside of 24.03% from the stock's current price.

Several other research analysts have also recently weighed in on the stock. KeyCorp raised shares of Winnebago Industries from a "sector weight" rating to an "overweight" rating and set a $58.00 price target on the stock in a research report on Wednesday, January 8th. Truist Financial raised their price target on Winnebago Industries from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Monday, February 10th. DA Davidson cut their target price on shares of Winnebago Industries from $55.00 to $54.00 and set a "neutral" rating on the stock in a research note on Tuesday, December 24th. Benchmark restated a "buy" rating and set a $70.00 price target on shares of Winnebago Industries in a report on Monday, December 23rd. Finally, StockNews.com lowered shares of Winnebago Industries from a "hold" rating to a "sell" rating in a report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $60.00.

Remove Ads

Winnebago Industries Price Performance

WGO traded down $0.17 during trading on Wednesday, hitting $34.67. The company's stock had a trading volume of 5,156,463 shares, compared to its average volume of 637,884. The firm has a market capitalization of $984.52 million, a price-to-earnings ratio of -52.53 and a beta of 1.70. Winnebago Industries has a twelve month low of $33.62 and a twelve month high of $74.10. The business's fifty day simple moving average is $42.69 and its 200 day simple moving average is $51.30. The company has a current ratio of 2.58, a quick ratio of 1.34 and a debt-to-equity ratio of 0.51.

Winnebago Industries (NYSE:WGO - Get Free Report) last announced its earnings results on Friday, December 20th. The construction company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.23). The firm had revenue of $625.60 million for the quarter, compared to analyst estimates of $672.23 million. Winnebago Industries had a negative net margin of 0.63% and a positive return on equity of 5.32%. Winnebago Industries's revenue was down 18.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.06 EPS. On average, equities research analysts forecast that Winnebago Industries will post 3.41 EPS for the current fiscal year.

Insider Activity

In related news, Director Jacqueline D. Woods sold 1,503 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $44.32, for a total value of $66,612.96. Following the completion of the sale, the director now owns 10,985 shares in the company, valued at $486,855.20. This represents a 12.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.63% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WGO. Wellington Management Group LLP purchased a new position in shares of Winnebago Industries during the third quarter worth about $7,750,000. Quantbot Technologies LP lifted its position in Winnebago Industries by 94.5% during the 3rd quarter. Quantbot Technologies LP now owns 64,291 shares of the construction company's stock worth $3,736,000 after acquiring an additional 31,242 shares during the period. Vestcor Inc lifted its position in Winnebago Industries by 105.6% during the 3rd quarter. Vestcor Inc now owns 17,205 shares of the construction company's stock worth $1,000,000 after acquiring an additional 8,837 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Winnebago Industries by 25.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 855,507 shares of the construction company's stock valued at $49,714,000 after purchasing an additional 173,274 shares during the last quarter. Finally, Inspire Investing LLC acquired a new position in shares of Winnebago Industries in the fourth quarter valued at approximately $399,000.

About Winnebago Industries

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.