Worthington Enterprises (NYSE:WOR) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Worthington Enterprises (NYSE:WOR) had its price objective boosted by Canaccord Genuity Group from $49.00 to $54.00 in a report published on Thursday,Benzinga reports. The firm currently has a hold rating on the industrial products company’s stock.

Separately, Seaport Res Ptn raised shares of Worthington Enterprises to a “strong-buy” rating in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Worthington Enterprises has an average rating of “Hold” and a consensus price target of $47.67.

Worthington Enterprises Trading Up 0.3 %

Shares of WOR opened at $51.67 on Thursday. The stock has a fifty day moving average price of $42.22 and a two-hundred day moving average price of $41.45. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.50 and a current ratio of 3.56. The company has a market cap of $2.59 billion, a price-to-earnings ratio of 62.25 and a beta of 1.21. Worthington Enterprises has a 52-week low of $37.88 and a 52-week high of $62.86.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings results on Tuesday, March 25th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.18. Worthington Enterprises had a return on equity of 14.70% and a net margin of 3.66%. The business had revenue of $304.52 million during the quarter, compared to analysts’ expectations of $289.09 million. During the same period in the previous year, the business posted $0.80 earnings per share. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. Analysts predict that Worthington Enterprises will post 2.67 EPS for the current fiscal year.

Worthington Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.32%. Worthington Enterprises’s dividend payout ratio is currently 57.63%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Proficio Capital Partners LLC bought a new stake in shares of Worthington Enterprises during the fourth quarter worth approximately $478,000. Amundi grew its holdings in Worthington Enterprises by 170.3% during the 4th quarter. Amundi now owns 15,777 shares of the industrial products company’s stock worth $625,000 after acquiring an additional 9,941 shares during the period. Geode Capital Management LLC raised its position in shares of Worthington Enterprises by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 813,828 shares of the industrial products company’s stock valued at $33,739,000 after acquiring an additional 25,824 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Worthington Enterprises by 90.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 138,115 shares of the industrial products company’s stock valued at $5,725,000 after purchasing an additional 65,685 shares during the period. Finally, Fisher Asset Management LLC boosted its position in shares of Worthington Enterprises by 24.8% in the 3rd quarter. Fisher Asset Management LLC now owns 70,265 shares of the industrial products company’s stock worth $2,912,000 after purchasing an additional 13,974 shares during the last quarter. Institutional investors own 51.59% of the company’s stock.

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.