Canaccord Genuity Group Has Lowered Expectations for Worthington Enterprises (NYSE:WOR) Stock Price

Worthington Enterprises (NYSE:WOR) had its price objective cut by Canaccord Genuity Group from $69.00 to $67.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 21.43% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Wall Street Zen raised shares of Worthington Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Weiss Ratings restated a “hold (c)” rating on shares of Worthington Enterprises in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Worthington Enterprises presently has an average rating of “Hold” and a consensus target price of $60.33.

Worthington Enterprises Stock Down 3.7%

Shares of Worthington Enterprises stock traded down $2.12 on Thursday, reaching $55.17. 110,245 shares of the company were exchanged, compared to its average volume of 195,482. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 17.56 and a beta of 1.28. The company has a current ratio of 2.36, a quick ratio of 1.44 and a debt-to-equity ratio of 0.31. Worthington Enterprises has a one year low of $45.01 and a one year high of $67.80. The company has a 50-day moving average of $56.30 and a 200 day moving average of $54.63.

Worthington Enterprises (NYSE:WOR) last released its earnings results on Tuesday, June 23rd. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.07). Worthington Enterprises had a net margin of 11.30% and a return on equity of 17.02%. The firm had revenue of $371.46 million during the quarter, compared to the consensus estimate of $386.49 million. During the same period in the prior year, the business posted $1.06 earnings per share. Worthington Enterprises’s quarterly revenue was up 16.9% compared to the same quarter last year. On average, equities research analysts forecast that Worthington Enterprises will post 3.92 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Allworth Financial LP boosted its position in shares of Worthington Enterprises by 872.0% in the fourth quarter. Allworth Financial LP now owns 486 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 436 shares during the period. Cassaday & Co Wealth Management LLC acquired a new stake in Worthington Enterprises in the 1st quarter worth about $25,000. McMillan Office Inc. acquired a new stake in Worthington Enterprises in the 4th quarter worth about $31,000. Farther Finance Advisors LLC boosted its holdings in Worthington Enterprises by 81.3% in the 4th quarter. Farther Finance Advisors LLC now owns 678 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 304 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in Worthington Enterprises by 57.3% in the 1st quarter. Parallel Advisors LLC now owns 722 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 263 shares during the period. Institutional investors own 51.59% of the company’s stock.

Worthington Enterprises Company Profile

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.