Canaccord Genuity Group Raises Worthington Enterprises (NYSE:WOR) Price Target to $54.00

Worthington Enterprises (NYSE:WOR) had its price objective lifted by equities research analysts at Canaccord Genuity Group from $49.00 to $54.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the industrial products company’s stock. Canaccord Genuity Group’s target price points to a potential upside of 7.05% from the stock’s current price.

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

Worthington Enterprises Trading Down 2.2 %

Shares of Worthington Enterprises stock opened at $50.44 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.50 and a current ratio of 3.56. The company has a market capitalization of $2.52 billion, a P/E ratio of 60.77 and a beta of 1.21. Worthington Enterprises has a 1 year low of $37.88 and a 1 year high of $62.56. The company’s fifty day moving average is $42.39 and its two-hundred day moving average is $41.50.

Worthington Enterprises (NYSE:WOR) last announced its earnings results on Tuesday, March 25th. The industrial products company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.18. The business 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%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.80 earnings per share. Analysts forecast that Worthington Enterprises will post 2.67 earnings per share for the current year.

Institutional Investors Weigh In On Worthington Enterprises

A number of institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its holdings in shares of Worthington Enterprises by 9.7% in the 4th quarter. Pacer Advisors Inc. now owns 1,770,924 shares of the industrial products company’s stock valued at $71,032,000 after buying an additional 156,762 shares during the period. Balyasny Asset Management L.P. lifted its holdings in Worthington Enterprises by 236.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 222,281 shares of the industrial products company’s stock valued at $8,916,000 after acquiring an additional 156,173 shares during the period. Fisher Asset Management LLC lifted its holdings in Worthington Enterprises by 187.9% in the fourth quarter. Fisher Asset Management LLC now owns 202,305 shares of the industrial products company’s stock valued at $8,114,000 after acquiring an additional 132,040 shares during the period. Lord Abbett & CO. LLC boosted its position in shares of Worthington Enterprises by 132.4% during the 4th quarter. Lord Abbett & CO. LLC now owns 205,330 shares of the industrial products company’s stock worth $8,236,000 after purchasing an additional 116,964 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Worthington Enterprises by 151.9% during the 4th quarter. Marshall Wace LLP now owns 181,650 shares of the industrial products company’s stock worth $7,286,000 after purchasing an additional 109,525 shares during the period. Hedge funds and other institutional investors own 51.59% of the company’s stock.

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.