KeyCorp Lowers Worthington Steel (NYSE:WS) Price Target to $34.00

Worthington Steel (NYSE:WS) had its target price lowered by stock analysts at KeyCorp from $41.00 to $34.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 30.05% from the stock’s current price.

Worthington Steel Trading Down 1.8 %

Shares of NYSE WS opened at $26.14 on Friday. The stock has a fifty day simple moving average of $29.13 and a two-hundred day simple moving average of $34.59. Worthington Steel has a 1-year low of $24.80 and a 1-year high of $47.19. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 9.17 and a beta of 2.62.

Worthington Steel (NYSE:WS) last announced its quarterly earnings data on Wednesday, December 18th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.37). Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. The firm had revenue of $739.00 million for the quarter, compared to the consensus estimate of $740.40 million. During the same period last year, the company posted $0.11 earnings per share. Worthington Steel’s revenue for the quarter was down 8.5% on a year-over-year basis. Analysts forecast that Worthington Steel will post 2.26 EPS for the current year.

Hedge Funds Weigh In On Worthington Steel

Large investors have recently made changes to their positions in the stock. Anchor Investment Management LLC purchased a new stake in shares of Worthington Steel in the fourth quarter worth $32,000. Tower Research Capital LLC TRC raised its position in shares of Worthington Steel by 82.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the company’s stock worth $132,000 after buying an additional 1,883 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Worthington Steel in the third quarter worth $213,000. Voleon Capital Management LP purchased a new stake in shares of Worthington Steel in the fourth quarter worth $213,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Worthington Steel in the fourth quarter worth $220,000. 45.41% of the stock is owned by institutional investors.

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.