Worthington Enterprises (NYSE:WOR) Given New $46.00 Price Target at Canaccord Genuity Group

Worthington Enterprises (NYSE:WOR) had its price objective lowered by Canaccord Genuity Group from $52.00 to $46.00 in a research report report published on Thursday morning, MarketBeat Ratings reports. The brokerage currently has a hold rating on the industrial products company’s stock.

Several other equities analysts also recently commented on WOR. The Goldman Sachs Group cut their price objective on Worthington Enterprises from $56.00 to $43.00 and set a sell rating on the stock in a research report on Tuesday, July 2nd. StockNews.com upgraded shares of Worthington Enterprises from a sell rating to a hold rating in a report on Wednesday. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $45.00.

Worthington Enterprises Price Performance

WOR stock opened at $40.83 on Thursday. The stock has a market cap of $2.05 billion, a PE ratio of 18.48 and a beta of 1.25. Worthington Enterprises has a 12 month low of $36.29 and a 12 month high of $69.96. The company has a 50-day moving average price of $45.35 and a 200 day moving average price of $52.17. The company has a current ratio of 3.78, a quick ratio of 2.86 and a debt-to-equity ratio of 0.33.

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

Institutional Investors Weigh In On Worthington Enterprises

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Worthington Enterprises by 6.6% in the 4th quarter. Vanguard Group Inc. now owns 3,901,794 shares of the industrial products company’s stock valued at $224,548,000 after purchasing an additional 242,833 shares in the last quarter. American Century Companies Inc. raised its stake in Worthington Enterprises by 43.7% in the second quarter. American Century Companies Inc. now owns 568,678 shares of the industrial products company’s stock worth $26,916,000 after buying an additional 172,850 shares in the last quarter. Capital International Investors purchased a new stake in Worthington Enterprises during the fourth quarter worth $26,329,000. Norges Bank bought a new stake in Worthington Enterprises during the 4th quarter valued at $19,073,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Worthington Enterprises by 7.1% in 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 acquiring an additional 11,302 shares during the period. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

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.