Worthington Steel (NYSE:WS) Lowered to “Hold” Rating by Wall Street Zen

Worthington Steel (NYSE:WS) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Separately, KeyCorp lifted their target price on Worthington Steel from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $36.00.

Worthington Steel Price Performance

Shares of NYSE WS opened at $30.14 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.99 and a current ratio of 1.66. Worthington Steel has a fifty-two week low of $21.30 and a fifty-two week high of $47.19. The company has a market cap of $1.53 billion, a PE ratio of 12.88 and a beta of 1.89. The business has a 50-day simple moving average of $32.00 and a two-hundred day simple moving average of $28.53.

Worthington Steel (NYSE:WS) last released its earnings results on Wednesday, September 24th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. Worthington Steel had a return on equity of 10.11% and a net margin of 3.80%.The firm had revenue of $872.90 million during the quarter, compared to the consensus estimate of $785.30 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts expect that Worthington Steel will post 2.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of WS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Worthington Steel by 17.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 56,893 shares of the company’s stock valued at $1,810,000 after acquiring an additional 8,583 shares during the period. Wellington Management Group LLP lifted its holdings in Worthington Steel by 0.6% in the fourth quarter. Wellington Management Group LLP now owns 69,920 shares of the company’s stock valued at $2,225,000 after acquiring an additional 434 shares during the period. GAMMA Investing LLC lifted its holdings in Worthington Steel by 1,317.2% in the first quarter. GAMMA Investing LLC now owns 19,656 shares of the company’s stock valued at $498,000 after acquiring an additional 18,269 shares during the period. Wedge Capital Management L L P NC lifted its holdings in Worthington Steel by 25.6% in the first quarter. Wedge Capital Management L L P NC now owns 51,214 shares of the company’s stock valued at $1,297,000 after acquiring an additional 10,428 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in Worthington Steel by 10,559.8% in the first quarter. Harbor Capital Advisors Inc. now owns 9,807 shares of the company’s stock valued at $248,000 after acquiring an additional 9,715 shares during the period. 45.41% of the stock is owned by institutional investors and hedge funds.

Worthington Steel Company Profile

Worthington Steel, Inc operates as a steel processor in North America. It offers carbon flat-rolled steel and tailor welded blanks, as well as electrical steel laminations; and aluminum tailor welded blanks. The company serves various end-markets, including automotive, heavy truck, agriculture, construction, and energy.