Worthington Enterprises (NYSE:WOR) Price Target Lowered to $43.00 at The Goldman Sachs Group

Worthington Enterprises (NYSE:WOR) had its price objective dropped by equities researchers at The Goldman Sachs Group from $56.00 to $43.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “sell” rating on the industrial products company’s stock. The Goldman Sachs Group’s price objective suggests a potential downside of 4.12% from the stock’s previous close.

A number of other equities research analysts have also weighed in on WOR. Canaccord Genuity Group reduced their price objective on Worthington Enterprises from $64.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, June 27th. StockNews.com lowered Worthington Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, June 26th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat, Worthington Enterprises presently has an average rating of “Hold” and a consensus price target of $50.33.

Worthington Enterprises Price Performance

WOR stock traded down $0.42 during midday trading on Tuesday, reaching $44.85. 16,279 shares of the stock were exchanged, compared to its average volume of 298,667. The stock has a market capitalization of $2.25 billion, a PE ratio of 20.30 and a beta of 1.29. Worthington Enterprises has a 52 week low of $36.29 and a 52 week high of $69.96. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.86. The company has a fifty day moving average price of $55.31 and a 200 day moving average price of $57.87.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings data on Wednesday, June 26th. The industrial products company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.14). The firm had revenue of $318.80 million for the quarter, compared to the consensus estimate of $352.82 million. Worthington Enterprises had a return on equity of 15.57% and a net margin of 3.79%. The company’s revenue was down 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.74 EPS.

Insider Buying and Selling at Worthington Enterprises

In other news, Director Ozey K. Horton, Jr. sold 1,000 shares of the business’s 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 transaction, the director now directly owns 40,688 shares of the company’s stock, valued at approximately $2,495,801.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 38.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in WOR. Millburn Ridgefield Corp lifted its stake in shares of Worthington Enterprises by 55.7% in the 4th quarter. Millburn Ridgefield Corp now owns 576 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 206 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of Worthington Enterprises in the 1st quarter valued at about $38,000. GAMMA Investing LLC acquired a new position in Worthington Enterprises during the 4th quarter worth approximately $53,000. Neo Ivy Capital Management acquired a new position in Worthington Enterprises during the 4th quarter worth approximately $81,000. Finally, TFO Wealth Partners LLC raised its stake in Worthington Enterprises by 60,700.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,824 shares of the industrial products company’s stock worth $105,000 after buying an additional 1,821 shares during the period. 51.59% of the stock is owned by institutional investors and hedge funds.

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.