Wall Street Zen Downgrades Worthington Enterprises (NYSE:WOR) to Hold

Worthington Enterprises (NYSE:WOR) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other equities analysts have also commented on the company. Canaccord Genuity Group reduced their price objective on Worthington Enterprises from $73.00 to $69.00 and set a “buy” rating on the stock in a research report on Thursday, December 18th. CJS Securities upgraded shares of Worthington Enterprises from a “market perform” rating to an “outperform” rating and set a $64.00 price target on the stock in a research report on Wednesday, September 24th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Worthington Enterprises in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Worthington Enterprises presently has a consensus rating of “Moderate Buy” and an average target price of $61.00.

Worthington Enterprises Price Performance

Shares of NYSE:WOR opened at $52.91 on Friday. The company’s fifty day moving average price is $55.13 and its 200-day moving average price is $59.40. 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 firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 24.96 and a beta of 1.33. Worthington Enterprises has a one year low of $38.63 and a one year high of $70.91.

Worthington Enterprises (NYSE:WOR) last announced its earnings results on Tuesday, December 16th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.06). The company had revenue of $327.45 million during the quarter, compared to analysts’ expectations of $310.60 million. Worthington Enterprises had a return on equity of 17.70% and a net margin of 8.46%.The firm’s revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 earnings per share. On average, equities research analysts anticipate that Worthington Enterprises will post 2.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Worthington Enterprises

A number of hedge funds have recently modified their holdings of WOR. Y Intercept Hong Kong Ltd raised its stake in Worthington Enterprises by 134.7% in the second quarter. Y Intercept Hong Kong Ltd now owns 20,640 shares of the industrial products company’s stock worth $1,314,000 after buying an additional 11,846 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in Worthington Enterprises during the 2nd quarter valued at approximately $226,000. Strs Ohio purchased a new position in shares of Worthington Enterprises during the 1st quarter worth approximately $496,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Worthington Enterprises in the 2nd quarter worth approximately $1,826,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Worthington Enterprises by 377.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 288,222 shares of the industrial products company’s stock valued at $18,342,000 after purchasing an additional 227,792 shares during the period. Hedge funds and other institutional investors 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.