Worthington Enterprises (NYSE:WOR) Price Target Raised to $49.00

Worthington Enterprises (NYSE:WOR) had its price objective upped by equities researchers at Canaccord Genuity Group from $46.00 to $49.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “hold” rating on the industrial products company’s stock. Canaccord Genuity Group’s target price suggests a potential upside of 20.16% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. StockNews.com raised shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, September 25th. Canaccord Genuity Group reduced their price objective on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating for the company in a research note on Thursday, September 26th.

Worthington Enterprises Trading Down 1.1 %

Shares of WOR stock opened at $40.78 on Thursday. Worthington Enterprises has a 1 year low of $37.88 and a 1 year high of $69.96. The firm has a fifty day moving average price of $40.38 and a 200-day moving average price of $44.23. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 53.66 and a beta of 1.26. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.47 and a quick ratio of 2.34.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings results on Tuesday, December 17th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.08. Worthington Enterprises had a return on equity of 12.23% and a net margin of 1.96%. The business had revenue of $274.05 million during the quarter, compared to analyst estimates of $273.77 million. During the same quarter in the previous year, the company posted $0.78 earnings per share. Worthington Enterprises’s revenue for the quarter was down 8.1% on a year-over-year basis.

Insider Activity at Worthington Enterprises

In related news, CFO Joseph B. Hayek bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was bought at an average cost of $40.21 per share, with a total value of $100,525.00. Following the completion of the purchase, the chief financial officer now owns 168,875 shares of the company’s stock, valued at approximately $6,790,463.75. The trade was a 1.50 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 37.50% of the stock is owned by corporate insiders.

Institutional Trading of Worthington Enterprises

Hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. boosted its position in shares of Worthington Enterprises by 43.7% during the 2nd quarter. American Century Companies Inc. now owns 568,678 shares of the industrial products company’s stock valued at $26,916,000 after acquiring an additional 172,850 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in Worthington Enterprises during the third quarter valued at $3,663,000. Private Wealth Strategies L.L.C. purchased a new position in shares of Worthington Enterprises in the 2nd quarter worth $3,913,000. Edgestream Partners L.P. bought a new stake in shares of Worthington Enterprises in the 2nd quarter worth about $3,060,000. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Worthington Enterprises during the 2nd quarter valued at about $2,044,000. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Worthington Enterprises Company Profile

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.