Worthington Enterprises (NYSE:WOR) Price Target Cut to $43.00 by Analysts at The Goldman Sachs Group

Worthington Enterprises (NYSE:WOR) had its price target lowered by The Goldman Sachs Group from $56.00 to $43.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a sell rating on the industrial products company’s stock.

Several other equities analysts have also issued reports on the stock. StockNews.com lowered shares of Worthington Enterprises from a hold rating to a sell rating in a report on Wednesday, June 26th. 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, June 27th. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $50.33.

Worthington Enterprises Price Performance

Shares of NYSE:WOR opened at $45.18 on Tuesday. The company has a current ratio of 3.78, a quick ratio of 2.86 and a debt-to-equity ratio of 0.33. Worthington Enterprises has a 1 year low of $36.29 and a 1 year high of $69.96. The business has a fifty day simple moving average of $55.02 and a 200 day simple moving average of $57.79. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 20.44 and a beta of 1.29.

Worthington Enterprises (NYSE:WOR) last released its earnings results on Wednesday, June 26th. The industrial products company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.14). Worthington Enterprises had a return on equity of 15.57% and a net margin of 3.79%. The firm had revenue of $318.80 million for the quarter, compared to analyst estimates of $352.82 million. During the same period last year, the business earned $2.74 earnings per share. The firm’s quarterly revenue was down 13.6% compared to the same quarter last year.

Insider Buying and Selling

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

Institutional Trading of Worthington Enterprises

A number of institutional investors have recently modified their holdings of WOR. Pacer Advisors Inc. increased its holdings in shares of Worthington Enterprises by 67,348.5% in the 4th quarter. Pacer Advisors Inc. now owns 2,224,452 shares of the industrial products company’s stock worth $128,017,000 after buying an additional 2,221,154 shares during the last quarter. Capital International Investors bought a new position in shares of Worthington Enterprises in the 4th quarter worth $26,329,000. Norges Bank bought a new position in shares of Worthington Enterprises in the 4th quarter worth $19,073,000. Vanguard Group Inc. boosted its stake in shares of Worthington Enterprises by 8.8% in the 3rd quarter. Vanguard Group Inc. now owns 3,658,961 shares of the industrial products company’s stock valued at $226,197,000 after purchasing an additional 297,139 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Worthington Enterprises by 5.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,448,876 shares of the industrial products company’s stock valued at $140,934,000 after purchasing an additional 125,592 shares in the last quarter. 51.59% of the stock is currently owned by hedge funds and other 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.