Canaccord Genuity Group Cuts Worthington Enterprises (NYSE:WOR) Price Target to $52.00

Worthington Enterprises (NYSE:WOR) had its price objective reduced by Canaccord Genuity Group from $64.00 to $52.00 in a research note issued to investors on Thursday, Benzinga reports. Canaccord Genuity Group currently has a hold rating on the industrial products company’s stock.

A number of other research firms 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, June 26th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat.com, Worthington Enterprises currently has an average rating of Hold and an average price target of $54.67.

Worthington Enterprises Stock Up 0.7 %

NYSE:WOR opened at $47.33 on Thursday. The firm’s 50 day simple moving average is $55.55 and its 200 day simple moving average is $57.95. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.47. Worthington Enterprises has a one year low of $36.29 and a one year high of $69.96. The company has a market cap of $2.37 billion, a PE ratio of 21.42 and a beta of 1.35.

Worthington Enterprises (NYSE:WOR) last posted its earnings results on Wednesday, June 26th. The industrial products company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.14). Worthington Enterprises had a return on equity of 15.57% and a net margin of 3.79%. 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% on a year-over-year basis.

Insider Activity at Worthington Enterprises

In related news, Director Ozey K. Horton, Jr. sold 1,000 shares of the business’s 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 transaction, the director now owns 40,688 shares in the company, valued at approximately $2,495,801.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 38.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Gerber LLC purchased a new stake in shares of Worthington Enterprises in the fourth quarter valued at about $1,856,000. Louisiana State Employees Retirement System purchased a new stake in shares of Worthington Enterprises in the fourth quarter valued at about $875,000. Capital International Investors purchased a new stake in shares of Worthington Enterprises in the fourth quarter valued at about $26,329,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Worthington Enterprises by 36.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 61,907 shares of the industrial products company’s stock valued at $3,563,000 after purchasing an additional 16,403 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Worthington Enterprises by 38.7% in the fourth quarter. Principal Financial Group Inc. now owns 158,912 shares of the industrial products company’s stock valued at $9,145,000 after purchasing an additional 44,372 shares during the last quarter. Institutional investors and hedge funds own 51.59% of the company’s stock.

Worthington Enterprises Company Profile

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.