Worthington Enterprises (NYSE:WOR) PT Lowered to $46.00

Worthington Enterprises (NYSE:WOR) had its price objective dropped by research analysts at Canaccord Genuity Group from $52.00 to $46.00 in a research note issued to investors on Thursday, Briefing.com reports. The brokerage currently has a “hold” rating on the industrial products company’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 12.66% from the stock’s current price.

A number of other analysts have also weighed in on WOR. The Goldman Sachs Group reduced their price objective on shares of Worthington Enterprises from $56.00 to $43.00 and set a “sell” rating on the stock in a research report on Tuesday, July 2nd. Canaccord Genuity Group reduced their price objective on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, StockNews.com raised shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.00.

Worthington Enterprises Stock Up 1.9 %

Shares of NYSE WOR opened at $40.83 on Thursday. The firm’s 50-day moving average price is $45.50 and its 200-day moving average price is $52.32. The company has a current ratio of 3.78, a quick ratio of 2.86 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 18.48 and a beta of 1.25. Worthington Enterprises has a 12-month low of $36.29 and a 12-month high of $69.96.

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

Hedge Funds Weigh In On Worthington Enterprises

A number of hedge funds have recently added to or reduced their stakes in WOR. Norges Bank bought a new position in Worthington Enterprises in the 4th quarter worth about $19,073,000. TFO Wealth Partners LLC grew its stake 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 acquiring an additional 1,821 shares in the last quarter. Capital International Investors bought a new position in Worthington Enterprises in the 4th quarter worth about $26,329,000. Quantedge Capital Pte Ltd bought a new position in Worthington Enterprises in the 4th quarter worth about $201,000. Finally, Neo Ivy Capital Management bought a new position in Worthington Enterprises in the 4th quarter worth about $81,000. 51.59% of the stock is currently owned by institutional investors.

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.