Worthington Enterprises (NYSE:WOR) Given New $52.00 Price Target at Canaccord Genuity Group

Worthington Enterprises (NYSE:WOR) had its price target reduced by Canaccord Genuity Group from $64.00 to $52.00 in a report released on Thursday morning, Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

A number of other analysts have also commented on WOR. The Goldman Sachs Group upped their price objective on shares of Worthington Enterprises from $50.00 to $56.00 and gave the company a sell rating in a research note on Friday, March 22nd. StockNews.com lowered shares of Worthington Enterprises from a hold rating to a sell rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $58.00.

Worthington Enterprises Stock Down 3.0 %

WOR stock opened at $47.00 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.42 and a quick ratio of 2.47. The firm has a market cap of $2.35 billion, a PE ratio of 21.27 and a beta of 1.35. Worthington Enterprises has a 12 month low of $36.29 and a 12 month high of $69.96. The firm has a 50 day simple moving average of $55.75 and a 200 day simple moving average of $57.93.

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

Insider Buying and Selling at Worthington Enterprises

In other Worthington Enterprises news, Director Ozey K. Horton, Jr. sold 1,000 shares of Worthington Enterprises stock in a transaction on Friday, April 5th. The shares were sold at an average price of $61.34, for a total transaction of $61,340.00. Following the completion of the sale, the director now owns 40,688 shares of the company’s stock, valued at approximately $2,495,801.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 38.50% of the company’s stock.

Institutional Investors Weigh In On Worthington Enterprises

Several institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. grew its position in Worthington Enterprises by 67,348.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,224,452 shares of the industrial products company’s stock worth $128,017,000 after acquiring an additional 2,221,154 shares in the last quarter. Capital International Investors bought a new stake in Worthington Enterprises in the fourth quarter worth $26,329,000. Norges Bank acquired a new position in Worthington Enterprises during the fourth quarter worth $19,073,000. Vanguard Group Inc. raised its holdings in Worthington Enterprises by 8.8% during the third quarter. Vanguard Group Inc. now owns 3,658,961 shares of the industrial products company’s stock valued at $226,197,000 after buying an additional 297,139 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Worthington Enterprises by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,448,876 shares of the industrial products company’s stock worth $140,934,000 after buying an additional 125,592 shares during the last quarter. 51.59% of the stock is currently owned by institutional investors and hedge funds.

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.