Worthington Enterprises (NYSE:WOR) Price Target Cut to $46.00 by Analysts at Canaccord Genuity Group

Worthington Enterprises (NYSE:WOR) had its price objective decreased by Canaccord Genuity Group from $52.00 to $46.00 in a research report sent to investors on Thursday morning, Briefing.com reports. Canaccord Genuity Group currently has a hold rating on the industrial products company’s stock.

Several other equities research analysts have also weighed in on the company. StockNews.com raised Worthington Enterprises from a sell rating to a hold rating in a research report on Wednesday, September 25th. The Goldman Sachs Group cut their price target 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. Finally, Canaccord Genuity Group cut their price target on Worthington Enterprises from $52.00 to $46.00 and set a hold rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, Worthington Enterprises presently has a consensus rating of Hold and an average price target of $45.00.

Worthington Enterprises Price Performance

Shares of NYSE WOR opened at $40.83 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.86 and a current ratio of 3.78. Worthington Enterprises has a fifty-two week low of $36.29 and a fifty-two week high of $69.96. The firm has a market capitalization of $2.05 billion, a PE ratio of 18.48 and a beta of 1.25. The stock’s 50-day simple moving average is $45.35 and its 200-day simple moving average is $52.10.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Worthington Enterprises in the fourth quarter valued at approximately $19,073,000. TFO Wealth Partners LLC boosted its position in Worthington Enterprises by 60,700.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,824 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 1,821 shares in the last quarter. Capital International Investors purchased a new stake in Worthington Enterprises during the fourth quarter worth $26,329,000. Quantedge Capital Pte Ltd purchased a new stake in Worthington Enterprises during the fourth quarter worth $201,000. Finally, Neo Ivy Capital Management purchased a new stake in Worthington Enterprises during the fourth quarter worth $81,000. 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.