Canaccord Genuity Group Begins Coverage on Worthington Enterprises (NYSE:WOR)

Equities researchers at Canaccord Genuity Group started coverage on shares of Worthington Enterprises (NYSE:WORGet Free Report) in a research report issued on Tuesday, Benzinga reports. The brokerage set a “hold” rating and a $56.00 price target on the industrial products company’s stock. Canaccord Genuity Group’s target price would indicate a potential downside of 1.81% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the company. StockNews.com started coverage on Worthington Enterprises in a research note on Wednesday, January 24th. They set a “buy” rating for the company. The Goldman Sachs Group started coverage on Worthington Enterprises in a research note on Monday, January 22nd. They set a “sell” rating and a $50.00 price objective for the company. TheStreet upgraded Worthington Enterprises from a “c+” rating to a “b” rating in a research note on Monday, December 4th. Finally, Canaccord Genuity Group started coverage on Worthington Enterprises in a research note on Tuesday. They set a “hold” rating and a $56.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Worthington Enterprises presently has an average rating of “Hold” and an average price target of $57.50.

Get Our Latest Analysis on Worthington Enterprises

Worthington Enterprises Trading Down 1.1 %

Worthington Enterprises stock opened at $57.03 on Tuesday. The business has a 50-day simple moving average of $56.74 and a two-hundred day simple moving average of $63.93. The company has a market cap of $2.85 billion, a P/E ratio of 9.55 and a beta of 1.37. Worthington Enterprises has a 52-week low of $31.91 and a 52-week high of $59.73. The company has a quick ratio of 1.27, a current ratio of 1.88 and a debt-to-equity ratio of 0.16.

Worthington Enterprises (NYSE:WORGet Free Report) last released its quarterly earnings results on Wednesday, December 20th. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.34. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $666.15 million. Worthington Enterprises had a return on equity of 17.91% and a net margin of 6.43%. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 EPS. Analysts predict that Worthington Enterprises will post 5.6 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WOR. Pacer Advisors Inc. lifted its holdings in Worthington Enterprises by 67,348.5% in the 4th quarter. Pacer Advisors Inc. now owns 2,224,452 shares of the industrial products company’s stock worth $128,017,000 after purchasing an additional 2,221,154 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Worthington Enterprises by 13.0% during the 1st quarter. BlackRock Inc. now owns 4,571,279 shares of the industrial products company’s stock worth $235,012,000 after acquiring an additional 526,776 shares in the last quarter. State Street Corp boosted its position in shares of Worthington Enterprises by 18.1% during the 1st quarter. State Street Corp now owns 2,010,543 shares of the industrial products company’s stock valued at $103,362,000 after acquiring an additional 307,667 shares during the last quarter. Norges Bank purchased a new position in shares of Worthington Enterprises in the fourth quarter valued at $14,999,000. Finally, Vanguard Group Inc. increased its position in Worthington Enterprises by 8.8% in the third quarter. Vanguard Group Inc. now owns 3,658,961 shares of the industrial products company’s stock worth $226,197,000 after purchasing an additional 297,139 shares during the last quarter. 45.30% of the stock is owned by hedge funds and other institutional investors.

Worthington Enterprises Company Profile

(Get Free Report)

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.

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