Canaccord Genuity Group Lowers Worthington Enterprises (NYSE:WOR) Price Target to $52.00

Worthington Enterprises (NYSE:WOR) had its price target lowered by Canaccord Genuity Group from $64.00 to $52.00 in a report released on Thursday, Benzinga reports. The firm presently has a “hold” rating on the industrial products company’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 9.87% from the company’s current price.

A number of other equities analysts have also recently issued reports on the stock. StockNews.com cut shares of Worthington Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday. The Goldman Sachs Group upped their price objective on shares of Worthington Enterprises from $50.00 to $56.00 and gave the stock a “sell” rating in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Worthington Enterprises currently has an average rating of “Hold” and a consensus price target of $58.00.

Worthington Enterprises Stock Performance

NYSE WOR opened at $47.33 on Thursday. The firm has a 50-day moving average price of $55.55 and a two-hundred day moving average price of $57.90. Worthington Enterprises has a 12-month low of $36.29 and a 12-month high of $69.96. The company has a quick ratio of 2.47, a current ratio of 3.78 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $2.37 billion, a P/E ratio of 21.42 and a beta of 1.35.

Worthington Enterprises (NYSE:WOR) last issued its quarterly 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). 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 the consensus estimate of $352.82 million. During the same period last year, the company posted $2.74 EPS. The business’s revenue was down 13.6% on a year-over-year basis.

Insider Buying and Selling at Worthington Enterprises

In other news, Director Ozey K. Horton, Jr. sold 1,000 shares of the 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 completion of the sale, the director now directly owns 40,688 shares in the company, valued at $2,495,801.92. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 38.50% of the company’s stock.

Institutional Investors Weigh In On Worthington Enterprises

Large investors have recently modified their holdings of the company. Millburn Ridgefield Corp increased its position in shares of Worthington Enterprises by 55.7% during the fourth quarter. Millburn Ridgefield Corp now owns 576 shares of the industrial products company’s stock worth $33,000 after buying an additional 206 shares during the period. Fidelis Capital Partners LLC bought a new position in Worthington Enterprises during the first quarter worth $38,000. GAMMA Investing LLC bought a new position in Worthington Enterprises during the fourth quarter worth $53,000. Neo Ivy Capital Management bought a new position in Worthington Enterprises during the fourth quarter worth $81,000. Finally, EntryPoint Capital LLC boosted its stake in Worthington Enterprises by 255.3% during the first 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 in the last quarter. 51.59% of the stock is currently owned by institutional investors and hedge funds.

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.