Citigroup Issues Pessimistic Forecast for Winnebago Industries (NYSE:WGO) Stock Price

Winnebago Industries (NYSE:WGO) had its target price dropped by equities researchers at Citigroup from $29.00 to $24.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the RV manufacturer’s stock. Citigroup’s target price points to a potential upside of 3.58% from the company’s previous close.

Several other equities research analysts have also recently weighed in on WGO. DA Davidson reiterated a “neutral” rating and issued a $35.00 target price on shares of Winnebago Industries in a research note on Monday, June 15th. Benchmark lowered their price target on Winnebago Industries from $48.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, June 23rd. Seaport Research Partners assumed coverage on Winnebago Industries in a research note on Monday, July 27th. They set a “neutral” rating on the stock. Griffin Securities set a $35.00 price objective on Winnebago Industries in a research report on Monday, June 15th. Finally, Wall Street Zen upgraded Winnebago Industries from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. Three analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Winnebago Industries currently has an average rating of “Hold” and a consensus price target of $35.67.

Winnebago Industries Stock Performance

NYSE WGO traded down $0.04 during midday trading on Tuesday, hitting $23.17. The company had a trading volume of 619,190 shares, compared to its average volume of 645,693. The company has a quick ratio of 0.92, a current ratio of 2.37 and a debt-to-equity ratio of 0.36. The stock has a market cap of $655.02 million, a price-to-earnings ratio of 17.04 and a beta of 1.18. The firm has a fifty day simple moving average of $29.05 and a two-hundred day simple moving average of $30.02. Winnebago Industries has a fifty-two week low of $22.88 and a fifty-two week high of $50.16.

Insider Activity at Winnebago Industries

In other news, SVP Bret Woodson sold 1,235 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $31.73, for a total value of $39,186.55. Following the completion of the transaction, the senior vice president directly owned 31,373 shares of the company’s stock, valued at approximately $995,465.29. This represents a 3.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Happe sold 12,045 shares of the 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 directly owned 349,349 shares of the company’s stock, valued at approximately $11,416,725.32. The trade was a 3.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 15,694 shares of company stock worth $511,658. Corporate insiders own 4.88% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pzena Investment Management LLC acquired a new stake in shares of Winnebago Industries in the 2nd quarter valued at $53,406,000. Deprince Race & Zollo Inc. increased its position in shares of Winnebago Industries by 300.6% during the 1st quarter. Deprince Race & Zollo Inc. now owns 573,448 shares of the RV manufacturer’s stock worth $17,771,000 after purchasing an additional 430,300 shares in the last quarter. Maple Rock Capital Partners Inc. increased its position in shares of Winnebago Industries by 33.3% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 1,559,231 shares of the RV manufacturer’s stock worth $48,710,000 after purchasing an additional 389,400 shares in the last quarter. William Blair Investment Management LLC bought a new position in Winnebago Industries during the 2nd quarter valued at about $9,545,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Winnebago Industries by 72.8% during 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 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.