Worthington Enterprises (NYSE:WOR) Rating Lowered to Hold at Wall Street Zen

Worthington Enterprises (NYSE:WOR) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

WOR has been the topic of a number of other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a research note on Wednesday, January 21st. Canaccord Genuity Group reiterated a “buy” rating and issued a $69.00 price target on shares of Worthington Enterprises in a research note on Thursday, March 26th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Worthington Enterprises currently has an average rating of “Hold” and a consensus target price of $61.00.

Worthington Enterprises Trading Up 0.2%

Shares of Worthington Enterprises stock opened at $55.30 on Friday. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 24.58 and a beta of 1.32. The company has a quick ratio of 1.44, a current ratio of 2.36 and a debt-to-equity ratio of 0.31. Worthington Enterprises has a 12-month low of $45.01 and a 12-month high of $70.91. The firm’s 50-day moving average price is $53.64 and its two-hundred day moving average price is $54.31.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings data on Tuesday, March 24th. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.03. The firm had revenue of $378.68 million for the quarter, compared to the consensus estimate of $349.41 million. Worthington Enterprises had a net margin of 8.42% and a return on equity of 17.74%. The business’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. On average, analysts forecast that Worthington Enterprises will post 2.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in WOR. Royal Bank of Canada lifted its holdings in shares of Worthington Enterprises by 4.5% in the first quarter. Royal Bank of Canada now owns 12,967 shares of the industrial products company’s stock worth $650,000 after acquiring an additional 554 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Worthington Enterprises in the first quarter worth about $533,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Worthington Enterprises by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,704 shares of the industrial products company’s stock worth $937,000 after acquiring an additional 793 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Worthington Enterprises by 54.9% in the first quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company’s stock worth $17,656,000 after acquiring an additional 124,867 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Worthington Enterprises by 3.5% in the first quarter. Goldman Sachs Group Inc. now owns 222,461 shares of the industrial products company’s stock worth $11,143,000 after acquiring an additional 7,575 shares during the last quarter. Institutional investors own 51.59% of the company’s stock.

About Worthington Enterprises

Worthington Enterprises (NYSE:WOR) is a diversified metal manufacturing company that produces pressure vessels, engineered assemblies and fabricated metal products. The company’s portfolio includes the design and manufacture of cylinders for compressed gases, such as propane, natural gas and hydrogen, as well as transport tanks and other pressure-containment solutions for the industrial gas, energy and transportation markets. In addition to its pressure vessel operations, Worthington Enterprises offers metal processing and distribution services, supplying coil, sheet and plate products to customers across multiple industries.

Founded in 1955 and headquartered in Columbus, Ohio, Worthington Enterprises has grown from a single steel processing facility into a multi‐division organization with operations in the United States, Canada and Mexico.