Worthington Enterprises (NYSE:WOR) Given “Buy” Rating at Canaccord Genuity Group

Worthington Enterprises (NYSE:WOR)‘s stock had its “buy” rating reaffirmed by Canaccord Genuity Group in a research note issued on Thursday,Benzinga reports. They currently have a $69.00 price objective on the industrial products company’s stock. Canaccord Genuity Group’s target price suggests a potential upside of 37.13% from the company’s current price.

Several other equities research analysts have also recently issued reports on WOR. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a research note on Wednesday, January 21st. Wall Street Zen raised Worthington Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Worthington Enterprises presently has a consensus rating of “Hold” and a consensus target price of $61.00.

Worthington Enterprises Stock Performance

Worthington Enterprises stock traded up $0.81 during midday trading on Thursday, hitting $50.32. The company’s stock had a trading volume of 62,923 shares, compared to its average volume of 186,503. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.26 and a quick ratio of 2.26. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 22.33 and a beta of 1.32. Worthington Enterprises has a 1-year low of $43.35 and a 1-year high of $70.91. The company has a 50-day moving average price of $53.92 and a two-hundred day moving average price of $55.16.

Worthington Enterprises (NYSE:WOR) last announced its earnings results on Tuesday, March 24th. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Worthington Enterprises had a net margin of 8.42% and a return on equity of 17.97%. The firm had revenue of $378.68 million for the quarter, compared to analyst estimates of $349.41 million. During the same quarter in the prior year, the business posted $0.91 EPS. The business’s revenue was up 24.4% compared to the same quarter last year. As a group, sell-side analysts predict that Worthington Enterprises will post 2.67 earnings per share for the current year.

Institutional Trading of Worthington Enterprises

Several large investors have recently made changes to their positions in the company. ProShare Advisors LLC increased its stake in Worthington Enterprises by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 6,114 shares of the industrial products company’s stock valued at $315,000 after acquiring an additional 189 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in Worthington Enterprises by 61.0% during the third quarter. Hantz Financial Services Inc. now owns 525 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 199 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Worthington Enterprises by 1.3% in the 4th quarter. State of Alaska Department of Revenue now owns 19,385 shares of the industrial products company’s stock valued at $999,000 after purchasing an additional 240 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Worthington Enterprises by 2.0% in the 3rd quarter. Fifth Third Bancorp now owns 13,557 shares of the industrial products company’s stock valued at $752,000 after purchasing an additional 267 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its stake in shares of Worthington Enterprises by 1.7% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 16,463 shares of the industrial products company’s stock valued at $914,000 after purchasing an additional 279 shares during the last quarter. Institutional investors and hedge funds own 51.59% of the company’s stock.

About Worthington Enterprises

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.