Today’s Market Runner: Time to Buy Winnebago Industries, Inc. After Today’s Gap Up?

Today's Market Runner: Time to Buy Winnebago Industries, Inc. After Today's Gap Up?

The stock of Winnebago Industries, Inc. (NYSE:WGO) gapped up by $2.75 today and has $40.52 target or 39.00% above today’s $29.15 share price. The 8 months technical chart setup indicates low risk for the $788.64 million company. The gap was reported on Oct, 4 by Barchart.com. If the $40.52 price target is reached, the company will be worth $307.57 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 23.67% or $5.58 during the last trading session, hitting $29.15. About 4.63M shares traded hands or 2668.38% up from the average. Winnebago Industries, Inc. (NYSE:WGO) has risen 52.70% since March 1, 2016 and is uptrending. It has outperformed by 40.48% the S&P500.

Analysts await Winnebago Industries, Inc. (NYSE:WGO) to report earnings on October, 20. They expect $0.46 EPS, up 6.98% or $0.03 from last year’s $0.43 per share. WGO’s profit will be $12.45 million for 15.84 P/E if the $0.46 EPS becomes a reality. After $0.53 actual EPS reported by Winnebago Industries, Inc. for the previous quarter, Wall Street now forecasts -13.21% negative EPS growth.

According to Zacks Investment Research, “Winnebago Industries, Inc. is a leading U.S. manufacturer of motor homes, self-contained recreation vehicles used primarily in leisure travel and outdoor recreation activities. Motor home sales by the Company represented more than 87 percent of its revenues in each of the past five fiscal years. The Company’s motor homes are sold through dealer organizations primarily under the Winnebago, Itasca, Vectra, Rialta and Luxor brand names.”

Insitutional Activity: The institutional sentiment increased to 1.55 in 2016 Q2. Its up 0.05, from 1.5 in 2016Q1. The ratio improved, as 9 funds sold all Winnebago Industries, Inc. shares owned while 35 reduced positions. 18 funds bought stakes while 50 increased positions. They now own 23.99 million shares or 1.63% less from 24.39 million shares in 2016Q1.
Fiera Capital Corporation reported 103,600 shares or 0.01% of all its holdings. Tiaa Cref Investment Ltd Liability Corporation accumulated 86,390 shares or 0% of the stock. California State Teachers Retirement Sys, a California-based fund reported 56,109 shares. The Switzerland-based Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0% in Winnebago Industries, Inc. (NYSE:WGO). Thomson Horstmann Bryant last reported 485,707 shares in the company. Alliancebernstein Lp, a New York-based fund reported 104,486 shares. Citadel Advisors Ltd has 33,430 shares for 0% of their US portfolio. Renaissance Ltd reported 275,000 shares or 0.01% of all its holdings. Teton accumulated 61,000 shares or 0.13% of the stock. Comerica Bank & Trust last reported 0.01% of its portfolio in the stock. Teacher Retirement Systems Of Texas last reported 0% of its portfolio in the stock. Tower Research Cap Ltd Liability (Trc) holds 0% of its portfolio in Winnebago Industries, Inc. (NYSE:WGO) for 1,412 shares. New Jersey Better Educational Savings has 0.32% invested in the company for 21,000 shares. Great West Life Assurance Can has 3,800 shares for 0% of their US portfolio. Kennedy Capital Management Inc holds 0.47% of its portfolio in Winnebago Industries, Inc. (NYSE:WGO) for 1.02M shares.

More notable recent Winnebago Industries, Inc. (NYSE:WGO) news were published by: Fool.com which released: “Why Winnebago Industries, Inc. Stock Soared 24% Today” on October 03, 2016, also Fool.com with their article: “Why Winnebago Industries, Inc. Stock Gained 20% in March” published on April 07, 2016, Startribune.com published: “Veteran Toro executive Michael Happe selected to lead Winnebago Industries” on December 21, 2015. More interesting news about Winnebago Industries, Inc. (NYSE:WGO) were released by: Twst.com and their article: “Winnebago Industries Inc.: Winnebago Industries’ Fourth Quarter and Fiscal …” published on September 29, 2016 as well as Finance.Yahoo.com‘s news article titled: “Winnebago Industries Names Chris West Vice President of Operations” with publication date: September 16, 2016.

WGO Company Profile

Winnebago Industries, Inc., incorporated on February 12, 1958, is a maker of recreation vehicles (RVs) used primarily in leisure travel and outdoor recreation activities. The Firm designs, develops, makes and markets motorized and towable recreation products along with supporting services and products. The Company’s other products manufactured by the Company consist of original equipment maker (OEM) parts, including extruded aluminum and other component products for other manufacturers and commercial vehicles. The Firm offers products under categories, which include motorhomes, towables and other manufactured products. The Firm produces all of its motorhomes in vertically integrated manufacturing facilities in Iowa and it produces all travel trailer and fifth wheel trailers in Indiana. The Firm distributes its products primarily through independent dealers throughout the United States and Canada, who then retail the products to the end consumer.

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