Winnebago Industries Inc. stock spiked up 6.02% to close Tuesday (Dec. 7) 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, Wall Street Grand Market News reported on Tuesday.
After the 48th Annual National RV Trade Show in Louisville, Ky., 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 RVs 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 Co.’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 five day trading sessions, the stock went up by 26.05% and in last three 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.