StockNews.com Lowers Worthington Enterprises (NYSE:WOR) to Sell

StockNews.com cut shares of Worthington Enterprises (NYSE:WOR) from a hold rating to a sell rating in a research note released on Wednesday.

Several other brokerages also recently commented on WOR. The Goldman Sachs Group upped their price objective on Worthington Enterprises from $50.00 to $56.00 and gave the company a sell rating in a research report on Friday, March 22nd. Canaccord Genuity Group increased their price target on Worthington Enterprises from $56.00 to $64.00 and gave the stock a hold rating in a research report on Monday, March 25th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $58.00.

Worthington Enterprises Stock Performance

NYSE:WOR opened at $47.33 on Wednesday. The stock’s fifty day moving average is $55.55 and its 200 day moving average is $57.90. 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 $2.37 billion, a PE ratio of 21.42 and a beta of 1.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.47 and a current ratio of 3.78.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings results on Tuesday, June 25th. The industrial products company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.14). The company had revenue of $318.80 million for the quarter, compared to analysts’ expectations of $352.82 million. Worthington Enterprises had a net margin of 3.79% and a return on equity of 15.57%. The business’s quarterly revenue was down 13.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.74 EPS.

Insider Activity at Worthington Enterprises

In other Worthington Enterprises news, Director Ozey K. Horton, Jr. sold 1,000 shares of the stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $61.34, for a total value of $61,340.00. Following the completion of the sale, the director now directly owns 40,688 shares in the company, valued at $2,495,801.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. 38.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Worthington Enterprises

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Verity Asset Management Inc. raised its stake in Worthington Enterprises by 5.0% in the first quarter. Verity Asset Management Inc. now owns 14,097 shares of the industrial products company’s stock valued at $877,000 after buying an additional 668 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Worthington Enterprises in the first quarter worth about $226,000. Comerica Bank raised its stake in shares of Worthington Enterprises by 0.5% in the first quarter. Comerica Bank now owns 46,919 shares of the industrial products company’s stock worth $2,920,000 after purchasing an additional 250 shares during the last quarter. Hancock Whitney Corp purchased a new position in shares of Worthington Enterprises in the first quarter worth about $353,000. Finally, Tidal Investments LLC raised its stake in shares of Worthington Enterprises by 20.3% in the first quarter. Tidal Investments LLC now owns 8,995 shares of the industrial products company’s stock worth $560,000 after purchasing an additional 1,515 shares during the last quarter. 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.