Worthington Enterprises (NYSE:WOR) Cut to “Hold” at Wall Street Zen

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

WOR has been the topic of several other research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Enterprises in a research note on Monday, April 20th. Canaccord Genuity Group decreased their target price on Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $65.50.

Worthington Enterprises Price Performance

Worthington Enterprises stock opened at $56.23 on Friday. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 17.91 and a beta of 1.28. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.37 and a quick ratio of 1.44. Worthington Enterprises has a 1 year low of $45.01 and a 1 year high of $67.80. The firm has a 50-day moving average of $56.35 and a two-hundred day moving average of $54.65.

Worthington Enterprises (NYSE:WOR) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $386.49 million. Worthington Enterprises had a return on equity of 16.79% and a net margin of 11.30%.Worthington Enterprises’s revenue was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.06 earnings per share. On average, research analysts forecast that Worthington Enterprises will post 3.92 earnings per share for the current year.

Institutional Investors Weigh In On Worthington Enterprises

Several hedge funds have recently modified their holdings of WOR. Vanguard Group Inc. boosted its stake in shares of Worthington Enterprises by 0.4% during the third quarter. Vanguard Group Inc. now owns 3,753,434 shares of the industrial products company’s stock valued at $208,278,000 after purchasing an additional 15,894 shares in the last quarter. Geode Capital Management LLC increased its holdings in Worthington Enterprises by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 768,013 shares of the industrial products company’s stock valued at $39,613,000 after buying an additional 4,745 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Worthington Enterprises by 67.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 481,541 shares of the industrial products company’s stock worth $26,721,000 after buying an additional 193,319 shares in the last quarter. Windsor Advisory Group LLC raised its stake in Worthington Enterprises by 23.5% in the first quarter. Windsor Advisory Group LLC now owns 459,633 shares of the industrial products company’s stock worth $23,965,000 after buying an additional 87,351 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH purchased a new stake in Worthington Enterprises during the first quarter worth $23,824,000. Hedge funds and other institutional investors 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.