Zacks Investment Research Upgrades Winnebago Industries, Inc. (WGO) to Strong-Buy
Winnebago Industries, Inc. (NYSE:WGO) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday. The firm presently has a $53.00 target price on the construction company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 22.69% from the company’s current price.
According to Zacks, “In the last three months, Winnebago’s shares outperformed the industry it belongs to. The company has been focusing to increase its production of Class A gas and Class C motorhomes by building new facilities, which will lead to a rise in product demand, in future. The company’ shares repurchase programs and frequent dividend payments will boost its shareholders’ value. Also, the acquisition of Grand Design will help it to diversify its product portfolio and enhance its presence in the towable business. However, the company is facing challenges due to sales decline of the Motorized segment. Also, under the signed repurchase agreements, the company will buy back its default products from the dealers, which will lead to an increase in capital expenditure.”
Several other equities research analysts have also recently weighed in on the company. Stifel Nicolaus cut Winnebago Industries from a “buy” rating to a “hold” rating and increased their price objective for the company from $40.00 to $44.00 in a research report on Tuesday. They noted that the move was a valuation call. ValuEngine cut Winnebago Industries from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. Robert W. Baird reaffirmed a “buy” rating on shares of Winnebago Industries in a research report on Thursday, September 28th. BMO Capital Markets reaffirmed a “hold” rating and issued a $34.00 target price on shares of Winnebago Industries in a research report on Friday, September 1st. Finally, BidaskClub cut Winnebago Industries from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 10th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $40.60.
Shares of Winnebago Industries (WGO) opened at 43.20 on Thursday. The company has a 50-day moving average of $39.33 and a 200 day moving average of $32.63. The firm has a market capitalization of $1.36 billion, a PE ratio of 21.58 and a beta of 1.99. Winnebago Industries has a 12-month low of $24.15 and a 12-month high of $46.85.
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Hedge funds have recently modified their holdings of the stock. Eqis Capital Management Inc. acquired a new position in Winnebago Industries during the third quarter worth $283,000. Toronto Dominion Bank raised its stake in Winnebago Industries by 50.0% during the second quarter. Toronto Dominion Bank now owns 15,000 shares of the construction company’s stock worth $526,000 after acquiring an additional 5,000 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in Winnebago Industries during the second quarter worth $201,000. California State Teachers Retirement System raised its stake in Winnebago Industries by 5.7% during the second quarter. California State Teachers Retirement System now owns 55,809 shares of the construction company’s stock worth $1,953,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Walthausen & Co. LLC raised its stake in Winnebago Industries by 62.3% during the second quarter. Walthausen & Co. LLC now owns 597,839 shares of the construction company’s stock worth $20,924,000 after acquiring an additional 229,451 shares in the last quarter. 84.65% of the stock is owned by hedge funds and other institutional investors.
Winnebago Industries Company Profile
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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