Canaccord Genuity Group Lowers Worthington Enterprises (NYSE:WOR) Price Target to $46.00

Worthington Enterprises (NYSE:WOR) had its price target lowered by Canaccord Genuity Group from $52.00 to $46.00 in a report released on Thursday, Marketbeat Ratings reports. The brokerage currently has a hold rating on the industrial products company’s stock.

A number of other brokerages have also recently issued reports on WOR. The Goldman Sachs Group cut their price objective on Worthington Enterprises from $56.00 to $43.00 and set a sell rating for the company in a report on Tuesday, July 2nd. StockNews.com raised shares of Worthington Enterprises from a sell rating to a hold rating in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, Worthington Enterprises has a consensus rating of Hold and an average price target of $45.00.

Worthington Enterprises Stock Up 1.9 %

Shares of WOR opened at $40.83 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.86 and a current ratio of 3.78. The company has a 50-day simple moving average of $45.35 and a 200-day simple moving average of $52.10. Worthington Enterprises has a 52 week low of $36.29 and a 52 week high of $69.96. The firm has a market capitalization of $2.05 billion, a P/E ratio of 18.48 and a beta of 1.25.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings results on Tuesday, September 24th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.21). Worthington Enterprises had a net margin of 1.96% and a return on equity of 11.40%. The business had revenue of $257.31 million during the quarter, compared to the consensus estimate of $296.05 million. During the same period last year, the firm earned $2.06 EPS. The company’s quarterly revenue was down 17.5% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Fidelis Capital Partners LLC bought a new stake in Worthington Enterprises during the 1st quarter worth about $38,000. Itau Unibanco Holding S.A. acquired a new position in shares of Worthington Enterprises during the second quarter worth approximately $57,000. Neo Ivy Capital Management bought a new stake in shares of Worthington Enterprises during the fourth quarter valued at approximately $81,000. EntryPoint Capital LLC increased its holdings in shares of Worthington Enterprises by 255.3% in the first quarter. EntryPoint Capital LLC now owns 1,723 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 1,238 shares in the last quarter. Finally, TFO Wealth Partners LLC raised its position in 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 during the last quarter. 51.59% of the stock is owned by institutional investors.

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.