Winnebago Industries, Inc.,(NYSE:WGO) a manufacturer of motor homes, which are self-contained recreation vehicles (RV) used primarily in leisure travel and outdoor recreation activities spiked up 6.02% to trade close at $13.21 from its previous close of $12.46. The stock is currently trading $2.67 above its 50 day moving average and $2.82 above its 200 day moving average with market capital of $384.62 million.
After 48th annual RVIA trade show in Louisville where there were leading dealers, manufacturers, suppliers, and creditors, it has been believed that the industry is on the path of slow recovery into ’11 with towable RVs leading the way. It is expected that near-term growth comparisons year over year is going to be quite challenging and possibly be compounded by increasingly competitive manufacturer pricing.
In 2011, Wholesale shipments of recreational vehicles, or RVs, are likely to grow about 4% compared to 43% growth in 2010. Shipments of RV of 246,000 units have been forecasted for 2011, compared to 236,700 for 2010 and 165,700 for 2009.
Winnebago, which closed two plants during the recession, posted net income of $4.9 million in the fourth quarter ending Aug. 28, compared with a loss of $50.2 million a year earlier. That marked its second straight profitable quarter. Revenue more than doubled to $449.5 million for its full fiscal year. Now, RV makers such as Winnebago are starting to turn profits and have begun to hire. Profits are returning to the industry.
On Nov 11, the company received ‘Fully Meets’ classification from Ford Motor Company’s Truck Quality Program. The Truck Quality Program is the highest honor awarded to vehicle modifiers. It is based on an assessment of a modifier’s engineering capability, design and builds process controls, management commitment and quality control procedures.
The Company also received on Oct 29, 15th Consecutive Recreation Vehicle Dealers’ Association (RVDA) Quality Circle Award.
So far in last 5 day trading sessions, the stock went up by 26.05% and in last 3 months trading sessions, the stock went up by 40.38%. The stock has 52 week range of $8.10 – $17.43. Volume of 590,453 shares has been traded compared to the daily average volume of 217,939 shares.
Winnebago Industries, Inc. manufactures motor homes, which are self-contained recreation vehicles used primarily in leisure travel and outdoor recreation activities. It manufactures conventional motor homes constructed directly on medium-duty and heavy-duty truck chassis, as well as mini motor homes built on van-type chassis with gas and diesel engines.
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