Zacks Research Upgrades Worthington Steel (NYSE:WS) to Hold

Worthington Steel (NYSE:WS) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other brokerages have also commented on WS. Weiss Ratings restated a “hold (c)” rating on shares of Worthington Steel in a research report on Monday, April 20th. Wall Street Zen lowered Worthington Steel from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, KeyCorp assumed coverage on Worthington Steel in a report on Wednesday, March 25th. They issued an “overweight” rating and a $46.00 price target on the stock. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Worthington Steel presently has an average rating of “Hold” and a consensus price target of $46.00.

Worthington Steel Stock Performance

WS opened at $41.18 on Monday. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 24.22 and a beta of 2.23. The business has a 50 day moving average of $35.42 and a 200-day moving average of $36.95. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 0.03. Worthington Steel has a 12-month low of $24.23 and a 12-month high of $49.17.

Worthington Steel (NYSE:WS) last issued its quarterly earnings results on Thursday, March 26th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.20). The business had revenue of $769.80 million during the quarter, compared to the consensus estimate of $882.95 million. Worthington Steel had a net margin of 3.64% and a return on equity of 10.12%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 EPS. On average, equities research analysts expect that Worthington Steel will post 2.27 earnings per share for the current year.

Institutional Trading of Worthington Steel

Several institutional investors and hedge funds have recently modified their holdings of WS. Rockefeller Capital Management L.P. raised its stake in shares of Worthington Steel by 1,239.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 750 shares of the company’s stock worth $26,000 after purchasing an additional 694 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of Worthington Steel by 56.4% during the fourth quarter. Hantz Financial Services Inc. now owns 910 shares of the company’s stock valued at $32,000 after acquiring an additional 328 shares during the last quarter. MAI Capital Management increased its position in shares of Worthington Steel by 39.8% during the third quarter. MAI Capital Management now owns 1,404 shares of the company’s stock valued at $43,000 after acquiring an additional 400 shares during the last quarter. Torren Management LLC purchased a new stake in shares of Worthington Steel during the fourth quarter valued at approximately $48,000. Finally, OP Asset Management Ltd purchased a new stake in shares of Worthington Steel during the first quarter valued at approximately $49,000. 45.41% of the stock is owned by hedge funds and other institutional investors.

Worthington Steel Company Profile

Worthington Steel (NYSE: WS) is a leading North American steel processor specializing in the production of flat-rolled, coated and painted sheet and coil products. Operating as a wholly owned subsidiary of Worthington Industries, the company serves a broad range of industries, including construction, automotive, appliance, energy and agricultural equipment. Its core business activities encompass the processing, finishing and distribution of carbon and advanced high-strength steels, aluminum and stainless products to manufacturers across the continent.

The company’s product portfolio includes hot-dip galvanizing, galvannealed, aluminized and pre-painted steel products, as well as cold-rolled and hot-rolled coil.