Worthington Enterprises (NYSE:WOR) Receives “Hold” Rating from Canaccord Genuity Group

Worthington Enterprises (NYSE:WOR)‘s stock had its “hold” rating reiterated by research analysts at Canaccord Genuity Group in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $46.00 price objective on the industrial products company’s stock. Canaccord Genuity Group’s target price would indicate a potential upside of 16.90% from the company’s current price.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group reduced their price target on shares of Worthington Enterprises from $56.00 to $43.00 and set a “sell” rating on the stock in a research report on Tuesday, July 2nd. Canaccord Genuity Group decreased their target price on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Finally, StockNews.com raised Worthington Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $45.00.

Worthington Enterprises Price Performance

Shares of Worthington Enterprises stock traded down $2.26 during trading on Friday, hitting $39.35. The stock had a trading volume of 178,418 shares, compared to its average volume of 287,904. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 17.81 and a beta of 1.25. Worthington Enterprises has a 12 month low of $36.38 and a 12 month high of $69.96. The business’s 50-day moving average is $44.19 and its 200 day moving average is $50.92. The company has a current ratio of 3.47, a quick ratio of 2.34 and a debt-to-equity ratio of 0.33.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings data 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 12.23% and a net margin of 1.96%. The company had revenue of $257.31 million during the quarter, compared to the consensus estimate of $296.05 million. During the same quarter last year, the company posted $2.06 earnings per share. The firm’s revenue for the quarter was down 17.5% on a year-over-year basis.

Institutional Investors Weigh In On Worthington Enterprises

A number of institutional investors have recently made changes to their positions in the company. Fidelis Capital Partners LLC bought a new stake in Worthington Enterprises in the 1st quarter worth about $38,000. Itau Unibanco Holding S.A. purchased a new position in shares of Worthington Enterprises during the second quarter valued at approximately $57,000. Neo Ivy Capital Management purchased a new stake in Worthington Enterprises in the fourth quarter worth approximately $81,000. EntryPoint Capital LLC grew its position in Worthington Enterprises by 255.3% in the 1st quarter. EntryPoint Capital LLC now owns 1,723 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 1,238 shares during the period. Finally, SG Americas Securities LLC raised its stake in Worthington Enterprises by 19.7% during the 1st quarter. SG Americas Securities LLC now owns 2,376 shares of the industrial products company’s stock valued at $148,000 after buying an additional 391 shares during the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.

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.