Canaccord Genuity Group Forecasts Strong Price Appreciation for Worthington Enterprises (NYSE:WOR) Stock

Worthington Enterprises (NYSE:WOR) had its price target raised by equities research analysts at Canaccord Genuity Group from $49.00 to $54.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 6.44% from the stock’s previous close.

Separately, Seaport Res Ptn upgraded shares of Worthington Enterprises to a “strong-buy” rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $47.67.

Worthington Enterprises Stock Down 1.5 %

NYSE WOR traded down $0.79 during trading hours on Thursday, hitting $50.74. The company had a trading volume of 190,526 shares, compared to its average volume of 276,074. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 60.60 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.56 and a quick ratio of 2.50. Worthington Enterprises has a fifty-two week low of $37.88 and a fifty-two week high of $62.86. The firm’s 50 day moving average is $42.02 and its 200 day moving average is $41.38.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings data on Tuesday, March 25th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.18. The company had revenue of $304.52 million during the quarter, compared to the consensus estimate of $289.09 million. Worthington Enterprises had a net margin of 3.66% and a return on equity of 14.70%. Worthington Enterprises’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter last year, the company earned $0.80 earnings per share. Sell-side analysts anticipate that Worthington Enterprises will post 2.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Worthington Enterprises

Several large investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new position in Worthington Enterprises in the 3rd quarter worth about $633,000. Charles Schwab Investment Management Inc. grew its holdings in Worthington Enterprises by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 493,280 shares of the industrial products company’s stock worth $20,446,000 after buying an additional 18,480 shares in the last quarter. Fisher Asset Management LLC raised its stake in Worthington Enterprises by 24.8% during the 3rd quarter. Fisher Asset Management LLC now owns 70,265 shares of the industrial products company’s stock valued at $2,912,000 after acquiring an additional 13,974 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Worthington Enterprises by 39.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 46,323 shares of the industrial products company’s stock worth $1,920,000 after acquiring an additional 13,097 shares during the period. Finally, FORA Capital LLC bought a new position in shares of Worthington Enterprises in the third quarter worth $448,000. 51.59% of the stock is currently owned by 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.