The stock of Winnebago Industries, Inc. (NYSE:WGO) is now priced at $53.56 and the shares are -0.42 points down or -0.78% lower compared to its previous closing price of $53.98. The stock had 1.331 million contracts set over the past session. WGO shares’ daily volume is compared to its average trading volume at 0.676 million shares. However, it has a float of 32.22 million and although its performance was -8.19% over the week, it’s one to watch. Analysts have given the WGO stock a yearly average price target of $67.33 per share. It means the stock’s upside potential is 25.71% with the WGO share price recently placing at $50.95 to $53.665. However, some brokerage firms have priced the stock below the average, including one that has called $60.
The shorts are running away from the Winnebago Industries, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the WGO shares have declined. Short interest in the stock represents just 6.81% of its float, but the volume has dropped by 0.
In the last trading session, Winnebago Industries, Inc. (NYSE:WGO) dropped by -$4.78 over the week and lost -$6.63 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $72.65. The stock recorded its established 52-week high on 06/23/20.
Since 03/19/20, the stock has traded to a low of $16.94 at 216.17%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 2.2. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Winnebago Industries, Inc.’s two-week RSI is 34.83. This suggests that the stock is neutral at the moment and that WGO shares’ price movement remains stable. The stochastic readings are equally revealing at 12.93% meaning the WGO share price is currently in overbought territory.
The technical chart shows that the WGO stock will likely settle at between $54.5 and $55.44 per share. However, if the stock dips below $51.78, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $50.01.
Currently, the stock is trading in the red of MACD, with a reading of -2.63. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at CFRA raised their recommendation for WGO from Sell to Buy in September 01 review. Citigroup analysts see the stock as a Neutral in a flash note released to investors on July 06 initiating covering the stock. Sidoti seeing the stock struggling downgraded it from Buy to Neutral on May 29.
The average rating for the WGO equity is 2.2 and is currently gathering a bullish momentum. Of 10 analysts tracking Winnebago Industries, Inc. polled by Reuters, 4 rated WGO as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (6) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the WGO stock price is 13.45X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 34.1 below the group’s average of 56. Winnebago Industries, Inc. has its P/E ratio at 2.3, which means that the stock is currently trading at a discount relative to the 5.1 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Winnebago Industries, Inc. (NYSE:WGO) will decrease by about -99.82%, which will see them reach $711 million. The company’s full-year revenues are, however, expected to increase by about 17.09%, up from $1990 million to $2330 million. WGO’s expected adjusted earnings should drop almost -14.56% to end up at $0.88 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -42.66% to record $2.03/share.