Wall Street Zen Upgrades Worthington Enterprises (NYSE:WOR) to Buy

Worthington Enterprises (NYSE:WOR) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other equities analysts have also issued research reports about the company. Canaccord Genuity Group reissued a “buy” rating and issued a $69.00 price objective on shares of Worthington Enterprises in a research note on Thursday, March 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Enterprises in a research note on Monday, April 20th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $61.00.

Worthington Enterprises Price Performance

Worthington Enterprises stock opened at $57.25 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.44 and a current ratio of 2.36. The firm has a market cap of $2.82 billion, a P/E ratio of 25.45 and a beta of 1.28. The business’s fifty day moving average is $54.59 and its two-hundred day moving average is $54.18. Worthington Enterprises has a 52 week low of $45.01 and a 52 week high of $70.91.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings data on Tuesday, March 24th. The industrial products company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.03. The company had revenue of $378.68 million for the quarter, compared to analyst estimates of $349.41 million. Worthington Enterprises had a return on equity of 17.74% and a net margin of 8.42%.The business’s revenue was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 earnings per share. Equities research analysts forecast that Worthington Enterprises will post 3.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Worthington Enterprises

Large investors have recently made changes to their positions in the company. Allworth Financial LP lifted its stake in shares of Worthington Enterprises by 872.0% during the fourth quarter. Allworth Financial LP now owns 486 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 436 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in shares of Worthington Enterprises during the first quarter valued at $25,000. Hantz Financial Services Inc. lifted its stake in shares of Worthington Enterprises by 61.0% during the third quarter. Hantz Financial Services Inc. now owns 525 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 199 shares during the period. McMillan Office Inc. acquired a new position in shares of Worthington Enterprises during the fourth quarter valued at $31,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Worthington Enterprises by 81.3% during the fourth quarter. Farther Finance Advisors LLC now owns 678 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 304 shares during the period. Institutional investors and hedge funds own 51.59% of the company’s stock.

About Worthington Enterprises

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.