Winnebago Industries (NYSE:WGO) Shares Gap Down After Earnings Miss

Shares of Winnebago Industries, Inc. (NYSE:WGO - Get Free Report) gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $51.93, but opened at $50.00. Winnebago Industries shares last traded at $52.20, with a volume of 125,070 shares.

The construction company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.23). The company had revenue of $625.60 million during the quarter, compared to analysts' expectations of $672.23 million. Winnebago Industries had a net margin of 0.44% and a return on equity of 7.97%. The company's quarterly revenue was down 18.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.06 earnings per share.

Winnebago Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 15th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Wednesday, January 15th. Winnebago Industries's payout ratio is currently 453.33%.

Wall Street Analysts Forecast Growth

WGO has been the subject of several analyst reports. BMO Capital Markets decreased their price objective on shares of Winnebago Industries from $75.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Robert W. Baird decreased their price target on Winnebago Industries from $70.00 to $64.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Benchmark cut their price objective on Winnebago Industries from $75.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, October 22nd. Truist Financial reduced their price objective on Winnebago Industries from $68.00 to $64.00 and set a "buy" rating for the company in a research note on Thursday, October 24th. Finally, Northcoast Research upgraded Winnebago Industries from a "neutral" rating to a "buy" rating and set a $75.00 target price on the stock in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.13.

Insider Activity

In other Winnebago Industries news, Director William C. Fisher purchased 2,000 shares of the stock in a transaction dated Monday, October 28th. The shares were bought at an average price of $54.81 per share, with a total value of $109,620.00. Following the completion of the transaction, the director now directly owns 32,267 shares in the company, valued at approximately $1,768,554.27. This trade represents a 6.61 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Bret A. Woodson sold 12,187 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $56.64, for a total transaction of $690,271.68. Following the sale, the senior vice president now owns 23,728 shares in the company, valued at $1,343,953.92. The trade was a 33.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.63% of the company's stock.

Hedge Funds Weigh In On Winnebago Industries

A number of large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. lifted its holdings in Winnebago Industries by 47.8% during the 2nd quarter. Pacer Advisors Inc. now owns 1,431,764 shares of the construction company's stock worth $77,602,000 after purchasing an additional 463,257 shares in the last quarter. Millennium Management LLC increased its position in shares of Winnebago Industries by 1,772.8% during the second quarter. Millennium Management LLC now owns 210,504 shares of the construction company's stock valued at $11,409,000 after buying an additional 199,264 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of Winnebago Industries in the second quarter worth about $9,708,000. Janus Henderson Group PLC boosted its position in shares of Winnebago Industries by 1,242.6% in the third quarter. Janus Henderson Group PLC now owns 181,579 shares of the construction company's stock valued at $10,552,000 after acquiring an additional 168,055 shares during the period. Finally, Marshall Wace LLP purchased a new position in Winnebago Industries during the second quarter valued at approximately $7,976,000.

Winnebago Industries Trading Down 3.8 %

The company has a debt-to-equity ratio of 0.50, a current ratio of 2.44 and a quick ratio of 1.36. The company has a market cap of $1.45 billion, a PE ratio of 166.61 and a beta of 1.60. The firm's 50 day moving average is $57.85 and its 200 day moving average is $57.38.

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.