Canaccord Genuity Group Reiterates "Buy" Rating for Worthington Enterprises (NYSE:WOR)

Key Points

• Canaccord Genuity reiterated a Buy rating on Worthington with a $69 price target, implying roughly a 37% upside from the stock's prior close.
• Worthington beat quarterly expectations with $0.98 EPS (vs. $0.96 est.) and $378.7M revenue (vs. $349.4M est.), with revenue up 24.4% year‑over‑year.
• Analyst views are mixed — the MarketBeat consensus is a "Hold" with a $61 target — while the stock trades near $50.32 and has a 12‑month range of $43.35–$70.91.

Worthington Enterprises (NYSE:WOR - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Canaccord Genuity Group in a research report issued on Thursday,Benzinga reports. They currently have a $69.00 target price on the industrial products company's stock. Canaccord Genuity Group's price target points to a potential upside of 37.13% from the stock's previous close.

Several other brokerages also recently commented on WOR. Wall Street Zen upgraded Worthington Enterprises from a "hold" rating to a "buy" rating in a research note on Saturday, January 10th. Weiss Ratings restated a "hold (c)" rating on shares of Worthington Enterprises in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $61.00.

Worthington Enterprises Stock Performance

Shares of WOR stock traded up $0.81 on Thursday, reaching $50.32. The stock had a trading volume of 62,923 shares, compared to its average volume of 186,503. Worthington Enterprises has a 12 month low of $43.35 and a 12 month high of $70.91. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 22.33 and a beta of 1.32. The firm's 50-day moving average is $53.92 and its two-hundred day moving average is $55.16. The company has a quick ratio of 2.26, a current ratio of 3.26 and a debt-to-equity ratio of 0.32.

Worthington Enterprises (NYSE:WOR - Get Free Report) last posted its quarterly earnings results on Tuesday, March 24th. The industrial products company reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.02. The business had revenue of $378.68 million during the quarter, compared to analysts' expectations of $349.41 million. Worthington Enterprises had a return on equity of 17.97% and a net margin of 8.42%.Worthington Enterprises's quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the company posted $0.91 earnings per share. On average, research analysts expect that Worthington Enterprises will post 2.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Worthington Enterprises

A number of institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC increased its stake in shares of Worthington Enterprises by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 6,114 shares of the industrial products company's stock worth $315,000 after purchasing an additional 189 shares during the period. Hantz Financial Services Inc. grew its holdings in Worthington Enterprises by 61.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 525 shares of the industrial products company's stock valued at $29,000 after buying an additional 199 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Worthington Enterprises by 1.3% in the 4th quarter. State of Alaska Department of Revenue now owns 19,385 shares of the industrial products company's stock valued at $999,000 after buying an additional 240 shares in the last quarter. Fifth Third Bancorp increased its position in Worthington Enterprises by 2.0% during the 3rd quarter. Fifth Third Bancorp now owns 13,557 shares of the industrial products company's stock worth $752,000 after buying an additional 267 shares during the period. Finally, Illinois Municipal Retirement Fund increased its position in Worthington Enterprises by 1.7% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 16,463 shares of the industrial products company's stock worth $914,000 after buying an additional 279 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.

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