Worthington Enterprises (NYSE:WOR) Given New $54.00 Price Target at Canaccord Genuity Group

Worthington Enterprises (NYSE:WOR) had its price objective upped by Canaccord Genuity Group from $49.00 to $54.00 in a research report released on Thursday,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

Separately, Seaport Res Ptn upgraded shares of Worthington Enterprises to a “strong-buy” rating in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $47.67.

Worthington Enterprises Stock Performance

WOR opened at $51.67 on Thursday. The company has a quick ratio of 2.50, a current ratio of 3.56 and a debt-to-equity ratio of 0.32. The stock’s 50 day moving average price is $42.22 and its two-hundred day moving average price is $41.45. The firm has a market capitalization of $2.59 billion, a P/E ratio of 62.25 and a beta of 1.21. Worthington Enterprises has a 12-month low of $37.88 and a 12-month high of $62.86.

Worthington Enterprises (NYSE:WOR) last announced its earnings results on Tuesday, March 25th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.18. Worthington Enterprises had a net margin of 3.66% and a return on equity of 14.70%. The business had revenue of $304.52 million for the quarter, compared to analyst estimates of $289.09 million. During the same quarter in the previous year, the firm posted $0.80 earnings per share. Worthington Enterprises’s revenue was down 3.9% compared to the same quarter last year. On average, equities analysts forecast that Worthington Enterprises will post 2.67 earnings per share for the current year.

Worthington Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.32%. Worthington Enterprises’s payout ratio is 57.63%.

Institutional Trading of Worthington Enterprises

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its holdings in shares of Worthington Enterprises by 9.7% in the 4th quarter. Pacer Advisors Inc. now owns 1,770,924 shares of the industrial products company’s stock worth $71,032,000 after buying an additional 156,762 shares in the last quarter. Balyasny Asset Management L.P. grew its position in Worthington Enterprises by 236.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 222,281 shares of the industrial products company’s stock valued at $8,916,000 after acquiring an additional 156,173 shares during the period. Fisher Asset Management LLC raised its stake in Worthington Enterprises by 187.9% during the fourth quarter. Fisher Asset Management LLC now owns 202,305 shares of the industrial products company’s stock worth $8,114,000 after acquiring an additional 132,040 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Worthington Enterprises by 132.4% during the fourth quarter. Lord Abbett & CO. LLC now owns 205,330 shares of the industrial products company’s stock valued at $8,236,000 after acquiring an additional 116,964 shares during the period. Finally, Marshall Wace LLP boosted its stake in shares of Worthington Enterprises by 151.9% in the 4th quarter. Marshall Wace LLP now owns 181,650 shares of the industrial products company’s stock valued at $7,286,000 after purchasing an additional 109,525 shares in the last quarter. 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.