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

Worthington Enterprises (NYSE:WOR) had its price objective lowered by Canaccord Genuity Group from $64.00 to $52.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 7.33% from the stock’s current price.

A number of other equities analysts have also recently commented on WOR. StockNews.com cut Worthington Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday. The Goldman Sachs Group increased their price target on Worthington Enterprises from $50.00 to $56.00 and gave the company a “sell” rating in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $58.00.

Worthington Enterprises Stock Down 3.4 %

Shares of WOR opened at $48.45 on Thursday. Worthington Enterprises has a 52 week low of $36.29 and a 52 week high of $69.96. The company has a quick ratio of 2.47, a current ratio of 3.42 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 21.92 and a beta of 1.35. The stock’s 50-day moving average price is $55.96 and its 200-day moving average price is $58.01.

Worthington Enterprises (NYSE:WOR) last issued its earnings results on Tuesday, June 25th. The industrial products company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.14). The company had revenue of $318.80 million during the quarter, compared to analysts’ expectations of $352.82 million. Worthington Enterprises had a return on equity of 13.87% and a net margin of 3.79%. The firm’s quarterly revenue was down 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.74 EPS.

Insider Transactions 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 stock was sold at an average price of $61.34, for a total value of $61,340.00. Following the completion of the transaction, the director now directly owns 40,688 shares in the company, valued at $2,495,801.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 38.50% of the company’s stock.

Institutional Trading of Worthington Enterprises

A number of institutional investors have recently bought and sold shares of WOR. Millburn Ridgefield Corp increased its position in 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 acquiring an additional 206 shares during the period. Fidelis Capital Partners LLC purchased a new stake in shares of Worthington Enterprises during the 1st quarter worth approximately $38,000. GAMMA Investing LLC purchased a new stake in shares of Worthington Enterprises during the 4th quarter worth approximately $53,000. Neo Ivy Capital Management purchased a new stake in shares of Worthington Enterprises during the 4th quarter worth approximately $81,000. Finally, TFO Wealth Partners LLC boosted its stake in shares of Worthington Enterprises by 60,700.0% during 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. 51.59% of the stock is owned by hedge funds and other 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.