Canaccord Genuity Group Issues Pessimistic Forecast for Worthington Enterprises (NYSE:WOR) Stock Price

Key Points

• Canaccord Genuity Group has reduced its target price for Worthington Enterprises (NYSE:WOR) from $81.00 to $73.00, suggesting a potential upside of 37.41% from the stock's previous close while maintaining a buy rating.
• The stock has seen a decline of 11.8% recently, opening at $53.13, and analysts generally rate it as a Moderate Buy with an average target price of $58.25.
• Worthington Enterprises reported a quarterly earnings beat with an EPS of $0.74, exceeding estimates and showing an 18.0% year-over-year revenue increase.

Worthington Enterprises (NYSE:WOR - Get Free Report) had its target price decreased by research analysts at Canaccord Genuity Group from $81.00 to $73.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the industrial products company's stock. Canaccord Genuity Group's price target suggests a potential upside of 37.41% from the stock's previous close.

Several other equities analysts have also recently issued reports on the stock. CJS Securities raised shares of Worthington Enterprises from a "market perform" rating to an "outperform" rating and set a $64.00 price objective on the stock in a research note on Wednesday. The Goldman Sachs Group boosted their price objective on shares of Worthington Enterprises from $44.00 to $50.00 and gave the company a "sell" rating in a research note on Thursday, June 26th. Wall Street Zen raised shares of Worthington Enterprises from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 24th. Finally, Zacks Research cut shares of Worthington Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Worthington Enterprises has an average rating of "Moderate Buy" and an average target price of $58.25.

Worthington Enterprises Stock Down 11.8%

WOR stock opened at $53.13 on Thursday. The company has a fifty day moving average price of $63.53 and a 200 day moving average price of $57.47. Worthington Enterprises has a 12 month low of $37.88 and a 12 month high of $70.91. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 24.94 and a beta of 1.20. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 2.62.

Worthington Enterprises (NYSE:WOR - Get Free Report) last released its quarterly earnings results on Tuesday, September 23rd. The industrial products company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.70 by $0.04. The firm had revenue of $303.70 million during the quarter, compared to the consensus estimate of $291.84 million. Worthington Enterprises had a net margin of 8.91% and a return on equity of 17.84%. Worthington Enterprises's revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 EPS. Sell-side analysts expect that Worthington Enterprises will post 2.67 earnings per share for the current year.

Institutional Investors Weigh In On Worthington Enterprises

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in shares of Worthington Enterprises by 693.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 619 shares of the industrial products company's stock worth $39,000 after purchasing an additional 541 shares during the last quarter. ORG Partners LLC boosted its stake in shares of Worthington Enterprises by 61.0% during the 2nd quarter. ORG Partners LLC now owns 660 shares of the industrial products company's stock worth $43,000 after purchasing an additional 250 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Worthington Enterprises during the 2nd quarter worth about $46,000. CWM LLC boosted its stake in shares of Worthington Enterprises by 33.5% during the 2nd quarter. CWM LLC now owns 813 shares of the industrial products company's stock worth $52,000 after purchasing an additional 204 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Worthington Enterprises during the 1st quarter worth about $49,000. 51.59% of the stock is owned by institutional investors and hedge funds.

Worthington Enterprises Company Profile

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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