Worthington Enterprises (NYSE:WOR) Price Target Lowered to $67.00 at Canaccord Genuity Group

Worthington Enterprises (NYSE:WOR) had its price target cut by stock analysts at Canaccord Genuity Group from $69.00 to $67.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Canaccord Genuity Group’s target price points to a potential upside of 21.43% from the stock’s current price.

A number of other analysts also recently weighed in on WOR. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a research report on Monday, April 20th. Wall Street Zen upgraded Worthington Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $60.33.

Worthington Enterprises Trading Down 3.7%

Shares of WOR stock traded down $2.12 during trading hours on Thursday, reaching $55.17. The company had a trading volume of 110,245 shares, compared to its average volume of 195,482. Worthington Enterprises has a 1-year low of $45.01 and a 1-year high of $67.80. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.36 and a quick ratio of 1.44. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 17.56 and a beta of 1.28. The company has a 50 day moving average of $56.30 and a 200 day moving average of $54.63.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings data on Tuesday, June 23rd. The industrial products company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). The company had revenue of $371.46 million for the quarter, compared to analyst estimates of $386.49 million. Worthington Enterprises had a return on equity of 17.02% and a net margin of 11.30%.The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period last year, the firm earned $1.06 earnings per share. On average, equities research analysts anticipate that Worthington Enterprises will post 3.92 EPS for the current year.

Institutional Investors Weigh In On Worthington Enterprises

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its position in Worthington Enterprises by 4.5% during the 1st quarter. Royal Bank of Canada now owns 12,967 shares of the industrial products company’s stock worth $650,000 after acquiring an additional 554 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Worthington Enterprises in the first quarter valued at approximately $533,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Worthington Enterprises by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,704 shares of the industrial products company’s stock worth $937,000 after purchasing an additional 793 shares in the last quarter. Millennium Management LLC lifted its position in shares of Worthington Enterprises by 54.9% in the first quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company’s stock worth $17,656,000 after purchasing an additional 124,867 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Worthington Enterprises by 3.5% during the first quarter. Goldman Sachs Group Inc. now owns 222,461 shares of the industrial products company’s stock worth $11,143,000 after purchasing an additional 7,575 shares during the last quarter. Institutional investors and hedge funds own 51.59% of the company’s stock.

Worthington Enterprises Company Profile

Worthington Enterprises (NYSE:WOR) is a diversified metal manufacturing company that produces pressure vessels, engineered assemblies and fabricated metal products. The company’s portfolio includes the design and manufacture of cylinders for compressed gases, such as propane, natural gas and hydrogen, as well as transport tanks and other pressure-containment solutions for the industrial gas, energy and transportation markets. In addition to its pressure vessel operations, Worthington Enterprises offers metal processing and distribution services, supplying coil, sheet and plate products to customers across multiple industries.

Founded in 1955 and headquartered in Columbus, Ohio, Worthington Enterprises has grown from a single steel processing facility into a multi‐division organization with operations in the United States, Canada and Mexico.