Worthington Enterprises (NYSE:WOR) Stock Price Down 4.7% After Analyst Downgrade

Worthington Enterprises, Inc. (NYSE:WOR) traded down 4.7% during mid-day trading on Thursday after Canaccord Genuity Group lowered their price target on the stock from $52.00 to $46.00. Canaccord Genuity Group currently has a hold rating on the stock. Worthington Enterprises traded as low as $40.73 and last traded at $40.73. 203,527 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 287,754 shares. The stock had previously closed at $42.74.

A number of other equities analysts also recently weighed in on WOR. StockNews.com raised shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday. The Goldman Sachs Group lowered their price objective 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. Finally, Canaccord Genuity Group decreased their price target on Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating on the stock in a research report on Thursday. 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.com, the stock has an average rating of “Hold” and a consensus price target of $45.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Worthington Enterprises by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 3,901,794 shares of the industrial products company’s stock worth $224,548,000 after acquiring an additional 242,833 shares in the last quarter. American Century Companies Inc. raised 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 during the period. Capital International Investors purchased a new stake in Worthington Enterprises during the 4th quarter valued at $26,329,000. Norges Bank purchased a new stake in Worthington Enterprises during the 4th quarter valued at $19,073,000. Finally, Principal Financial Group Inc. raised 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 during the period. 51.59% of the stock is currently owned by institutional investors.

Worthington Enterprises Stock Up 1.9 %

The company has a fifty day moving average of $45.50 and a two-hundred day moving average of $52.32. The company has a market cap of $2.05 billion, a PE ratio of 18.48 and a beta of 1.25. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.86 and a current ratio of 3.78.

Worthington Enterprises (NYSE:WOR) last posted 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 firm had revenue of $257.31 million for the quarter, compared to the consensus estimate of $296.05 million. Worthington Enterprises had a return on equity of 11.40% and a net margin of 1.96%. Worthington Enterprises’s quarterly revenue was down 17.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.06 EPS.

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.