Worthington Enterprises (NYSE:WOR) Shares Gap Down After Earnings Miss

Worthington Enterprises, Inc. (NYSE:WOR) gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $50.16, but opened at $46.48. Worthington Enterprises shares last traded at $48.18, with a volume of 156,539 shares traded.

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 13.87% and a net margin of 3.79%. The firm had revenue of $318.80 million for the quarter, compared to the consensus estimate of $352.82 million. During the same period in the previous year, the firm earned $2.74 EPS. Worthington Enterprises’s revenue for the quarter was down 13.6% on a year-over-year basis.

Wall Street Analysts Forecast Growth

WOR has been the topic of several research reports. Canaccord Genuity Group upped their price target on Worthington Enterprises from $56.00 to $64.00 and gave the company a “hold” rating in a report on Monday, March 25th. The Goldman Sachs Group lifted their price objective on shares of Worthington Enterprises from $50.00 to $56.00 and gave the stock a “sell” rating in a research report on Friday, March 22nd. Finally, StockNews.com cut shares of Worthington Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $61.00.

Insider Buying and Selling

In related news, Director Ozey K. Horton, Jr. sold 1,000 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $61.34, for a total value of $61,340.00. Following the completion of the sale, the director now directly owns 40,688 shares in the company, valued at $2,495,801.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 38.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Worthington Enterprises

A number of large investors have recently bought and sold shares of the business. Millburn Ridgefield Corp lifted its position in Worthington Enterprises by 55.7% during the 4th quarter. Millburn Ridgefield Corp now owns 576 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 206 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in Worthington Enterprises during the 1st quarter worth $38,000. GAMMA Investing LLC acquired a new position in Worthington Enterprises during the 4th quarter worth $53,000. Neo Ivy Capital Management acquired a new position in Worthington Enterprises during the 4th quarter worth $81,000. Finally, EntryPoint Capital LLC lifted its position in Worthington Enterprises by 255.3% during the 1st quarter. EntryPoint Capital LLC now owns 1,723 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 1,238 shares during the last quarter. 51.59% of the stock is currently owned by institutional investors.

Worthington Enterprises Stock Performance

The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 21.92 and a beta of 1.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.47 and a current ratio of 3.42. The stock’s 50-day simple moving average is $55.96 and its two-hundred day simple moving average is $58.01.

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.