Canaccord Genuity Group Raises Worthington Enterprises (NYSE:WOR) Price Target to $64.00

Worthington Enterprises (NYSE:WOR) had its price objective hoisted by Canaccord Genuity Group from $56.00 to $64.00 in a report released on Monday morning, Benzinga reports. The firm currently has a hold rating on the industrial products company’s stock.

Several other analysts also recently weighed in on WOR. The Goldman Sachs Group raised their target price on Worthington Enterprises from $50.00 to $56.00 and gave the company a sell rating in a research note on Friday, March 22nd. TheStreet upgraded Worthington Enterprises from a c+ rating to a b rating in a research note on Monday, December 4th. Canaccord Genuity Group initiated coverage on Worthington Enterprises in a research note on Tuesday, January 30th. They set a hold rating and a $56.00 target price for the company. Finally, StockNews.com downgraded Worthington Enterprises from a buy rating to a hold rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $61.00.

Worthington Enterprises Trading Up 2.4 %

WOR stock opened at $61.96 on Monday. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 11.33 and a beta of 1.39. The company has a quick ratio of 2.47, a current ratio of 3.42 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $60.59 and a 200-day simple moving average of $60.85. Worthington Enterprises has a 52 week low of $33.96 and a 52 week high of $69.96.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings results on Wednesday, March 20th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.44). Worthington Enterprises had a net margin of 7.12% and a return on equity of 19.40%. The company had revenue of $316.76 million during the quarter, compared to analyst estimates of $326.70 million. During the same quarter in the prior year, the company posted $1.04 earnings per share. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis.

Insider Buying and Selling at Worthington Enterprises

In related news, Director Michael J. Endres sold 66,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $64.26, for a total transaction of $4,241,160.00. Following the transaction, the director now owns 76,689 shares in the company, valued at $4,928,035.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 38.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Quadrature Capital Ltd acquired a new position in Worthington Enterprises in the 4th quarter worth approximately $248,000. Vanguard Group Inc. boosted its stake in Worthington Enterprises by 6.6% in the 4th quarter. Vanguard Group Inc. now owns 3,901,794 shares of the industrial products company’s stock worth $224,548,000 after purchasing an additional 242,833 shares during the period. Fisher Asset Management LLC boosted its stake in Worthington Enterprises by 7.5% in the 4th quarter. Fisher Asset Management LLC now owns 87,186 shares of the industrial products company’s stock worth $5,018,000 after purchasing an additional 6,073 shares during the period. Gerber LLC acquired a new position in Worthington Enterprises in the 4th quarter worth approximately $1,856,000. Finally, Wellington Management Group LLP boosted its stake in shares of Worthington Enterprises by 8.2% during the 4th quarter. Wellington Management Group LLP now owns 75,178 shares of the industrial products company’s stock valued at $4,326,000 after buying an additional 5,706 shares during the period. Institutional investors and hedge funds 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.