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WGO

Winnebago

$35.97

-1.23 (-3.31%)

, THO

Thor Industries

$105.38

-0.74 (-0.70%)

13:36
12/21/16
12/21
13:36
12/21/16
13:36

Winnebago falls despite quarterly results that beat estimates

Shares of recreational vehicle maker Winnebago Industries (WGO) are trading lower despite reporting quarterly financial results earlier today that beat analysts' expectations. EARNINGS: Winnebago reported first quarter earnings per share of 42c on revenue of $245.3M, surpassing analyst expectations of 31c and $232.34M, respectively. Consolidated revenues improved year-over-year due primarily to strong growth in the company's Towable business -- which benefited from three weeks of sales from Grand Design, contributing $25.8 million during the quarter, as well as continued organic growth in the Winnebago-branded Towable business which grew 44% -- slightly offset by a modest decline in Motorized revenues, Winnebago said. Gross margin was "steady" year over year, the company noted. CONSUMERS EMBRACING RV LIFESTYLE: In late November, Winnebago rival Thor Industries (THO) reported robust financial performance for its first quarter of fiscal year 2017 and noted that the outlook for future RV growth remains positive, as consumers are "embracing the RV lifestyle." GRAND DESIGN PURCHASE: On October 3, Winnebago announced it would acquire Grand Design Recreational Vehicle.The RV maker added in its statement at the time that the acquisition is expected to be accretive to its growth profile, profit margins and EPS. Michael Happe, Winnebago's President and CEO, commented, "The addition of Grand Design will accelerate our expansion in the towables business, creating a broader and more balanced portfolio well-positioned to capitalize on the opportunities across the RV market and to drive improved profitability and long-term value for stakeholders." According to Winnebago, the combined company will have approximately $1.4B in pro forma revenue along with a broader and more balanced portfolio well-positioned to deliver growth, improved profitability and value. At the time, research firm Baird upgraded Winnebago to Outperform from Neutral. PRICE ACTION: After hitting a 52-week high earlier today, shares of Winnebago are lower in afternoon trading by 2.7% to $36.20. OTHERS TO WATCH: Other companies in the RV space include Thor Industries, Patrick Industries (PATK) and Drew Industries (DW).

WGO

Winnebago

$35.97

-1.23 (-3.31%)

THO

Thor Industries

$105.38

-0.74 (-0.70%)

PATK

Patrick Industries

$76.75

2.35 (3.16%)

DW

Drew Industries

$112.05

-0.9 (-0.80%)

  • 21

    Dec

WGO Winnebago
$35.97

-1.23 (-3.31%)

02/09/16
02/09/16
DOWNGRADE

On The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Capital Senior Floating (ACSF) downgraded to Market Perform at Keefe Bruyette... American Science & Engineering (ASEI) downgraded to Hold from Buy at Benchmark... ArcelorMittal (MT) downgraded to Neutral from Overweight at JPMorgan... BioCryst (BCRX) downgraded to Hold from Buy at Jefferies... Brixmor (BRX) downgraded to Underperform from Outperform at RBC Capital... Diana Shipping (DSX) downgraded to Neutral from Buy at Clarksons Platou... Eagle Point Credit (ECC) downgraded to Neutral from Buy at Compass Point... Golden Ocean (GOGL) downgraded to Neutral from Buy at Clarksons Platou... Lukoil (LUKOY) downgraded to Hold from Buy at Deutsche Bank... Memorial Resource (MRD) downgraded to Neutral from Overweight at JPMorgan... Navios Maritime (NM) downgraded to Neutral from Buy at Clarksons Platou... Northstar Realty (NRF) downgraded to Market Perform from Outperform at Keefe Bruyette... Plains All American (PAA) downgraded to Neutral from Buy at BofA/Merrill... Plains GP Holdings (PAGP) downgraded to Neutral from Buy at BofA/Merrill... Qualys (QLYS) downgraded to Neutral from Buy at DA Davidson... Quidel (QDEL) downgraded to Hold from Buy at Canaccord... Randgold (GOLD) downgraded to Hold from Buy at Deutsche Bank... Scorpio Bulkers (SALT) downgraded to Neutral from Buy at Clarksons Platou... Tortoise Energy (TYG) downgraded to Hold from Buy at Stifel... Winnebago (WGO) downgraded to Neutral from Buy at Northcoast.
10/04/16
BMOC
10/04/16
NO CHANGE
Target $33
BMOC
Outperform
Winnebago price target raised to $33 after Grand Design deal at BMO Capital
BMO Capital analyst Gerrick Johnson said he views Winnebago's agreement to acquire Grand Design, which will make it the third-largest towable RV manufacturer in the world, as a "big win," given that Grand Design is both highly profitable and fast-growing. While not yet adjusting his earnings model, Johnson thinks the deal could drive a higher multiple for Winnebago shares and raised his price target on the stock to $33 from $27 while keeping an Outperform rating on the name.
05/03/16
SIDC
05/03/16
INITIATION
Target $24
SIDC
Neutral
Winnebago initiated with a Neutral at Sidoti
Target $24.
10/03/16
BARD
10/03/16
UPGRADE
BARD
Outperform
Winnebago upgraded to Outperform from Neutral at Baird
THO Thor Industries
$105.38

-0.74 (-0.70%)

09/28/16
WLSD
09/28/16
UPGRADE
WLSD
Buy
Thor Industries upgraded to Buy from Gradually Accumulate at Wellington Shields
09/13/16
NRCS
09/13/16
UPGRADE
Target $95
NRCS
Buy
Thor Industries upgraded to Buy from Neutral at Northcoast
Northcoast analyst Seth Woolf upgraded Thor Industries to Buy with a $95 price target. The analyst said the recent move in shares still doesn't reflect full accretion of the Jayco acquisition nor the strategic benefits. Woolf believes that the Jayco deal gives the company the best product portfolio in the industry. This is particularly true as it relates to Thor's ability to ride the wave of younger consumers entering the channel via entry-level travel trailers, the analyst wrote.
08/19/16
WDLK
08/19/16
DOWNGRADE
Target $80
WDLK
Hold
Thor Industries downgraded to Hold from Buy at Wunderlich
Wunderlich analyst Rommel Dionisio downgraded Thor Industries to Hold citing the recent rally in the shares. The analyst keeps an $80 price target for the name.
07/29/16
RHCO
07/29/16
UPGRADE
RHCO
Buy
Thor Industries upgraded on multiple catalysts at SunTrust
As noted earlier, SunTrust upgraded Thor to Buy from Neutral. Analyst Michael Swartz predicts that the company will benefit from higher than expected accretion and synergies from its Jayco acquisition, as well as 20%-40% growth in industry volumes by 2020. Target $90.
PATK Patrick Industries
$76.75

2.35 (3.16%)

08/17/16
KING
08/17/16
UPGRADE
KING
Buy
Patrick Industries upgraded to Buy from Neutral at CL King
CL King Scott Stember upgraded Patrick Industries and established a $71 price target citing valuation.
06/16/16
SIDC
06/16/16
INITIATION
Target $66
SIDC
Buy
Patrick Industries initiated with a Buy at Sidoti
Sidoti initiated Patrick industries with a Buy and $66 price target.
03/31/16
KING
03/31/16
DOWNGRADE
KING
Neutral
Patrick Industries downgraded to Neutral from Strong Buy at CL King
CL King downgraded Patrick Industries to Neutral from Strong Buy following the recent run in shares as the stock is approaching fair value.
DW Drew Industries
$112.05

-0.9 (-0.80%)

11/04/16
KING
11/04/16
UPGRADE
KING
Buy
Drew Industries upgraded to Buy from Neutral at CL King

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BNP Paribas

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TCO

Taubman Centers

$62.63

1.61 (2.64%)

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PBYI

Puma Biotechnology

$57.80

5.2 (9.89%)

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PAA

Plains All American

$27.86

-0.0899 (-0.32%)

13:35
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MSFT

Microsoft

$68.68

0.23 (0.34%)

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HP Inc.

$19.02

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Microsoft

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INTC

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$35.86

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Amazon.com

$971.54

0.87 (0.09%)

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Alphabet

$948.82

6.96 (0.74%)

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$970.55

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PBYI

Puma Biotechnology

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TSLA

Tesla

$303.86

-6.49 (-2.09%)

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GOOG

Alphabet

$948.82

6.96 (0.74%)

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Alphabet Class A

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$948.82

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$970.55

6.48 (0.67%)

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OAS

Oasis Petroleum

$11.13

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FOLD

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MSFT

Microsoft

$68.68

0.23 (0.34%)

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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FCAU

Fiat Chrysler

$10.50

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DYNT

Dynatronics

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ANF

Abercrombie & Fitch

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, AEO

American Eagle

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ANF

Abercrombie & Fitch

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AEO

American Eagle

EXPR

Express

$7.86

-0.02 (-0.25%)

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ANF

Abercrombie & Fitch

$11.93

-0.27 (-2.21%)

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EXPR

Express

$7.86

-0.02 (-0.25%)

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Abercrombie & Fitch

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ANF

Abercrombie & Fitch

$11.95

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