Shares of Winnebago Industries lost almost 4 percent in midday action today (Nov. 19) after Smith Barney lowered its rating on the stock to “hold” from “buy,” citing valuation.
Winnebago finished trading down $2.23 at 36.36.
According to CBS Marketwatch, the firm said it finds the shares “less compelling” after their 23 percent appreciation in the past five weeks.
Smith Barney, however, did lift its price target to $41 from $39, because of the overall favorable outlook for the recreational vehicle maker and some expansion in the price-to-earnings multiple of its peers.