Canaccord Genuity Group Lowers Worthington Enterprises (NYSE:WOR) Price Target to $46.00

Worthington Enterprises (NYSE:WOR) had its target price decreased by research analysts at Canaccord Genuity Group from $52.00 to $46.00 in a research note issued to investors on Thursday, StockNewsAPI reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 7.63% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. The Goldman Sachs Group reduced their target price on Worthington Enterprises from $56.00 to $43.00 and set a “sell” rating on the stock in a research note on Tuesday, July 2nd. StockNews.com raised Worthington Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $48.33.

Worthington Enterprises Trading Down 5.6 %

Shares of Worthington Enterprises stock opened at $42.74 on Thursday. Worthington Enterprises has a 1 year low of $36.29 and a 1 year high of $69.96. The firm has a market cap of $2.14 billion, a PE ratio of 19.34 and a beta of 1.25. The stock has a fifty day moving average price of $45.69 and a 200-day moving average price of $52.40. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.86.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of WOR. Vanguard Group Inc. increased its position in Worthington Enterprises by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 3,901,794 shares of the industrial products company’s stock worth $224,548,000 after buying an additional 242,833 shares in the last quarter. American Century Companies Inc. grew its holdings in Worthington Enterprises by 43.7% during the 2nd quarter. American Century Companies Inc. now owns 568,678 shares of the industrial products company’s stock valued at $26,916,000 after buying an additional 172,850 shares in the last quarter. Capital International Investors purchased a new position in Worthington Enterprises during the 4th quarter valued at approximately $26,329,000. Norges Bank purchased a new position in Worthington Enterprises during the 4th quarter valued at approximately $19,073,000. Finally, Principal Financial Group Inc. grew its holdings in Worthington Enterprises by 7.1% during the 1st quarter. Principal Financial Group Inc. now owns 170,214 shares of the industrial products company’s stock valued at $10,592,000 after buying an additional 11,302 shares in the last quarter. Institutional investors own 51.59% of the company’s stock.

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.