Worthington Enterprises (NYSE:WOR) Downgraded by StockNews.com to Sell

StockNews.com cut shares of Worthington Enterprises (NYSE:WOR) from a hold rating to a sell rating in a research report released on Wednesday.

A number of other equities research analysts also recently weighed in on WOR. Canaccord Genuity Group raised their price target on Worthington Enterprises from $56.00 to $64.00 and gave the company a hold rating in a research report on Monday, March 25th. The Goldman Sachs Group raised their price target on Worthington Enterprises from $50.00 to $56.00 and gave the company a sell rating in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, Worthington Enterprises currently has an average rating of Hold and an average price target of $61.00.

Worthington Enterprises Price Performance

NYSE:WOR opened at $48.45 on Wednesday. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 21.92 and a beta of 1.35. Worthington Enterprises has a 52-week low of $36.29 and a 52-week high of $69.96. The stock has a fifty day moving average of $55.96 and a 200 day moving average of $58.01. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.47 and a current ratio of 3.42.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings data on Tuesday, June 25th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.14). Worthington Enterprises had a net margin of 3.79% and a return on equity of 13.87%. The business had revenue of $318.80 million for the quarter, compared to the consensus estimate of $352.82 million. During the same period in the prior year, the business posted $2.74 EPS. Worthington Enterprises’s quarterly revenue was down 13.6% on a year-over-year basis.

Insider Transactions at Worthington Enterprises

In other news, Director Ozey K. Horton, Jr. sold 1,000 shares of Worthington Enterprises stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $61.34, for a total value of $61,340.00. Following the transaction, the director now owns 40,688 shares in the company, valued at $2,495,801.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 38.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Millburn Ridgefield Corp raised its position in Worthington Enterprises by 55.7% during the 4th quarter. Millburn Ridgefield Corp now owns 576 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 206 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in Worthington Enterprises during the 1st quarter valued at approximately $38,000. GAMMA Investing LLC bought a new position in Worthington Enterprises during the 4th quarter valued at approximately $53,000. Neo Ivy Capital Management bought a new position in Worthington Enterprises during the 4th quarter valued at approximately $81,000. Finally, EntryPoint Capital LLC raised its position in Worthington Enterprises by 255.3% during the 1st quarter. EntryPoint Capital LLC now owns 1,723 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 1,238 shares during the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.

About Worthington Enterprises

Worthington Enterprises, Inc operates as an industrial manufacturing company. It operates through three segments: Building Products, Consumer Products, and Sustainable Energy Solutions. The Building Products segment sells refrigerant and LPG cylinders, well water and expansion tanks, fire suppression tanks, chemical tanks, and foam and adhesive tanks for gas producers, and distributors.