Worthington Enterprises (NYSE:WOR) Shares Down 4% Following Analyst Downgrade

Worthington Enterprises, Inc. (NYSE:WOR) was down 4% during trading on Thursday after Canaccord Genuity Group lowered their price target on the stock from $64.00 to $52.00. Canaccord Genuity Group currently has a hold rating on the stock. Worthington Enterprises traded as low as $46.16 and last traded at $46.53. Approximately 355,847 shares changed hands during trading, an increase of 24% from the average daily volume of 286,182 shares. The stock had previously closed at $48.45.

Several other equities analysts also recently commented on the stock. The Goldman Sachs Group increased 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 cut shares of Worthington Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday. Two investment 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.com, the company presently has a consensus rating of “Hold” and a consensus target price of $58.00.

Insider Buying and Selling at Worthington Enterprises

In related 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 transaction, the director now owns 40,688 shares of the company’s stock, valued at $2,495,801.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 38.50% of the company’s stock.

Institutional Investors Weigh In On Worthington Enterprises

Hedge funds have recently added to or reduced their stakes in the business. Millburn Ridgefield Corp grew its stake in shares of Worthington Enterprises by 55.7% in the 4th quarter. Millburn Ridgefield Corp now owns 576 shares of the industrial products company’s stock valued at $33,000 after buying an additional 206 shares during the period. Fidelis Capital Partners LLC acquired a new stake in Worthington Enterprises in the first quarter valued at approximately $38,000. GAMMA Investing LLC bought a new stake in shares of Worthington Enterprises during the fourth quarter valued at approximately $53,000. Neo Ivy Capital Management acquired a new position in shares of Worthington Enterprises during the fourth quarter worth approximately $81,000. Finally, TFO Wealth Partners LLC lifted its holdings in shares of Worthington Enterprises by 60,700.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,824 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 1,821 shares in the last quarter. 51.59% of the stock is currently owned by institutional investors.

Worthington Enterprises Trading Down 3.8 %

The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 21.92 and a beta of 1.35. The firm’s 50-day moving average is $55.96 and its 200-day moving average is $58.01. The company has a current ratio of 3.42, a quick ratio of 2.47 and a debt-to-equity ratio of 0.33.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings data on Tuesday, June 25th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $352.82 million. During the same quarter in the prior year, the business earned $2.74 earnings per share. The firm’s quarterly revenue was down 13.6% compared to the same quarter last year.

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.