Worthington Enterprises, Inc. (NYSE:WOR) Given Average Rating of “Reduce” by Brokerages

Worthington Enterprises, Inc. (NYSE:WOR) has been assigned an average rating of “Reduce” from the four brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $58.00.

WOR has been the subject of a number of analyst reports. StockNews.com lowered shares of Worthington Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday. The Goldman Sachs Group increased their price target on shares of Worthington Enterprises from $50.00 to $56.00 and gave the company a “sell” rating in a report on Friday, March 22nd. Finally, Canaccord Genuity Group dropped their target price on shares of Worthington Enterprises from $64.00 to $52.00 and set a “hold” rating on the stock in a report on Thursday.

Insider Activity

In other news, Director Ozey K. Horton, Jr. sold 1,000 shares of the firm’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 sale, the director now directly owns 40,688 shares in the company, valued at approximately $2,495,801.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 38.50% of the company’s stock.

Institutional Trading of Worthington Enterprises

Several institutional investors and hedge funds have recently modified their holdings of the company. New York State Teachers Retirement System increased its holdings in Worthington Enterprises by 0.3% in the 1st quarter. New York State Teachers Retirement System now owns 57,557 shares of the industrial products company’s stock valued at $3,582,000 after acquiring an additional 200 shares during the last quarter. Millburn Ridgefield Corp increased its holdings 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 last quarter. Comerica Bank increased its holdings in shares of Worthington Enterprises by 0.5% in the 1st quarter. Comerica Bank now owns 46,919 shares of the industrial products company’s stock worth $2,920,000 after buying an additional 250 shares during the last quarter. Ritholtz Wealth Management increased its holdings in shares of Worthington Enterprises by 2.2% in the 4th quarter. Ritholtz Wealth Management now owns 11,477 shares of the industrial products company’s stock worth $660,000 after buying an additional 251 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Worthington Enterprises by 3.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,153 shares of the industrial products company’s stock worth $454,000 after buying an additional 293 shares during the last quarter. 51.59% of the stock is currently owned by institutional investors.

Worthington Enterprises Stock Performance

NYSE WOR opened at $47.00 on Friday. The company has a 50-day simple moving average of $55.75 and a two-hundred day simple moving average of $57.93. The company has a quick ratio of 2.47, a current ratio of 3.42 and a debt-to-equity ratio of 0.33. Worthington Enterprises has a 12-month low of $36.29 and a 12-month high of $69.96. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 21.27 and a beta of 1.35.

Worthington Enterprises (NYSE:WOR) last posted its earnings results on Tuesday, June 25th. The industrial products company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.14). The firm had revenue of $318.80 million for 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 business’s revenue for the quarter was down 13.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.74 earnings per share.

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.