Winnebago Industries (NYSE:WGO) Stock Gets Price Target Cut from Citigroup

Winnebago Industries (NYSE:WGO) had its price objective decreased by Citigroup from $29.00 to $24.00 in a research note issued to investors on Tuesday,Benzinga reports. Citigroup currently has a neutral rating on the RV manufacturer’s stock.

A number of other analysts also recently issued reports on the company. Wall Street Zen raised Winnebago Industries from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. Zacks Research upgraded Winnebago Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 1st. DA Davidson reissued a “neutral” rating and set a $35.00 price target on shares of Winnebago Industries in a research report on Monday, June 15th. Roth Capital reduced their price target on Winnebago Industries from $38.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, June 23rd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Winnebago Industries in a research note on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.67.

Winnebago Industries Trading Up 6.9%

Shares of NYSE:WGO opened at $24.69 on Tuesday. The company’s 50-day moving average price is $28.56 and its two-hundred day moving average price is $29.84. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.37 and a quick ratio of 0.92. Winnebago Industries has a one year low of $22.75 and a one year high of $50.16. The stock has a market capitalization of $697.96 million, a PE ratio of 18.15 and a beta of 1.18.

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 paid a $0.36 dividend. This is an increase from Winnebago Industries’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Wednesday, September 9th. Winnebago Industries’s dividend payout ratio is 105.88%.

Insider Transactions at Winnebago Industries

In other news, SVP Bret A. Woodson sold 2,414 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $32.66, for a total transaction of $78,841.24. Following the transaction, the senior vice president directly 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 document filed 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 J. Happe sold 12,045 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $32.68, for a total transaction of $393,630.60. Following the completion of the sale, the chief executive officer directly owned 349,349 shares in the company, valued at approximately $11,416,725.32. The trade was a 3.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 15,694 shares of company stock valued at $511,658. Insiders own 4.88% of the company’s stock.

Hedge Funds Weigh In On Winnebago Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of WGO. Pzena Investment Management LLC acquired a new position in Winnebago Industries during the second quarter worth approximately $53,406,000. Deprince Race & Zollo Inc. raised its stake in Winnebago Industries by 300.6% in the first quarter. Deprince Race & Zollo Inc. now owns 573,448 shares of the RV manufacturer’s stock valued at $17,771,000 after buying an additional 430,300 shares during the period. Maple Rock Capital Partners Inc. lifted its position in shares of Winnebago Industries by 33.3% in 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 buying an additional 389,400 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Winnebago Industries in the second quarter valued at approximately $9,545,000. Finally, Arrowstreet Capital Limited Partnership lifted 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 buying an additional 280,017 shares during the last quarter.

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 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.