Winnebago Industries (NYSE:WGO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Friday.
According to Zacks, “Winnebago’s adjusted earnings missed the Zacks Consensus Estimate in the second quarter of fiscal 2018, while the top-line beat the same. Compared with the year-ago figures, revenues were higher. Year-over-year robust organic growth by the Towable segment has enabled it to drive revenues. Also, higher volume sales,overall market growth and an improved RV portfolio have contributed to the increase in revenues. Also, in order to enhance shareholder value, it engages in frequent share-repurchase programs. However, high material costs faced by the Motorized segment and considerable outstanding debt are few headwinds for the company. Shares of Winnebago underperformed the industry it belongs to. “
A number of other analysts also recently issued reports on the stock. Northcoast Research downgraded shares of Winnebago Industries from a “buy” rating to a “neutral” rating in a research report on Friday, January 26th. They noted that the move was a valuation call. ValuEngine downgraded shares of Winnebago Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Stifel Nicolaus reissued a “hold” rating and set a $53.00 target price (up previously from $45.00) on shares of Winnebago Industries in a research report on Thursday, December 21st. Robert W. Baird reissued an “outperform” rating and set a $60.00 target price (up previously from $52.00) on shares of Winnebago Industries in a research report on Thursday, December 21st. Finally, SunTrust Banks reissued a “hold” rating and set a $52.00 target price on shares of Winnebago Industries in a research report on Thursday, December 21st. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $50.83.
Winnebago Industries (NYSE:WGO) last released its earnings results on Wednesday, March 21st. The construction company reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.01). The firm had revenue of $468.40 million during the quarter, compared to analysts’ expectations of $445.88 million. Winnebago Industries had a net margin of 4.56% and a return on equity of 21.72%. Winnebago Industries’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter last year, the company posted $0.48 earnings per share. equities analysts predict that Winnebago Industries will post 3.25 earnings per share for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in shares of Winnebago Industries by 1.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 707,926 shares of the construction company’s stock valued at $31,679,000 after buying an additional 10,975 shares during the last quarter. Edge Wealth Management LLC acquired a new stake in Winnebago Industries in the fourth quarter worth $278,000. JPMorgan Chase & Co. increased its position in Winnebago Industries by 794.8% in the third quarter. JPMorgan Chase & Co. now owns 525,726 shares of the construction company’s stock worth $23,395,000 after buying an additional 466,975 shares during the period. Janney Capital Management LLC increased its position in Winnebago Industries by 46.2% in the third quarter. Janney Capital Management LLC now owns 10,122 shares of the construction company’s stock worth $452,000 after buying an additional 3,198 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new stake in Winnebago Industries in the third quarter worth $396,000. 84.22% of the stock is owned by hedge funds and other institutional investors.
About Winnebago Industries
Winnebago Industries, Inc is a manufacturer of recreation vehicles (RVs) used primarily in leisure travel and outdoor recreation activities. The Company designs, develops, manufactures and markets motorized and towable recreation products along with supporting products and services. Its other products manufactured by the Company consist of original equipment manufacturer (OEM) parts, including extruded aluminum and other component products for other manufacturers and commercial vehicles.
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