Canaccord Genuity Group Reaffirms “Hold” Rating for Worthington Enterprises (NYSE:WOR)

Worthington Enterprises (NYSE:WOR)‘s stock had its “hold” rating reiterated by Canaccord Genuity Group in a research note issued to investors on Friday, Benzinga reports. They presently have a $46.00 price objective on the industrial products company’s stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 10.71% from the company’s current price.

A number of other research firms have also recently commented on WOR. The Goldman Sachs Group cut their price target on shares of Worthington Enterprises from $56.00 to $43.00 and set a “sell” rating on the stock in a report on Tuesday, July 2nd. StockNews.com upgraded Worthington Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th. Finally, Canaccord Genuity Group dropped their target price on Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $45.00.

Worthington Enterprises Price Performance

Shares of NYSE WOR traded up $0.47 during midday trading on Friday, reaching $41.55. The company’s stock had a trading volume of 21,123 shares, compared to its average volume of 288,536. The business’s 50 day moving average price is $44.70 and its two-hundred day moving average price is $51.58. The company has a market cap of $2.08 billion, a P/E ratio of 18.83 and a beta of 1.25. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.34 and a current ratio of 3.47. Worthington Enterprises has a fifty-two week low of $36.29 and a fifty-two week high of $69.96.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings data 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 firm had revenue of $257.31 million during the quarter, compared to the consensus estimate of $296.05 million. Worthington Enterprises had a return on equity of 12.23% and a net margin of 1.96%. The company’s revenue for the quarter was down 17.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.06 earnings per share.

Institutional Trading of Worthington Enterprises

Several large investors have recently made changes to their positions in the business. Fidelis Capital Partners LLC acquired a new position in Worthington Enterprises during the 1st quarter worth approximately $38,000. Itau Unibanco Holding S.A. acquired a new stake in Worthington Enterprises in the second quarter worth $57,000. Neo Ivy Capital Management bought a new stake in shares of Worthington Enterprises in the 4th quarter worth $81,000. EntryPoint Capital LLC grew its stake in shares of 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 period. Finally, SG Americas Securities LLC boosted its stake in Worthington Enterprises by 19.7% during the first quarter. SG Americas Securities LLC now owns 2,376 shares of the industrial products company’s stock valued at $148,000 after buying an additional 391 shares during the period. 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.