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

Key Points

• Wall Street Zen downgraded Worthington Enterprises (NYSE:WOR) from a "buy" to a "hold"; the stock's consensus rating on MarketBeat is presently "Hold" with an average price target of $61.00 (ratings: 2 Buy, 2 Hold, 1 Sell).
• Recent results beat expectations — Wor reported Q results of $0.98 EPS versus $0.95 expected and revenue of $378.7M (consensus $349.4M), a 24.4% year-over-year revenue increase; analysts forecast ~2.67 EPS for the fiscal year.
• Shares trade around $55.30 with a 52-week range of $45.01–$70.91, a market cap of about $2.74B and a P/E of 24.58, and institutional investors own roughly 51.6% of the stock.

Worthington Enterprises (NYSE:WOR - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Worthington Enterprises in a research report on Wednesday, January 21st. Canaccord Genuity Group reissued a "buy" rating and set a $69.00 price target on shares of Worthington Enterprises in a research report on Thursday, March 26th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $61.00.

Worthington Enterprises Price Performance

Shares of NYSE WOR opened at $55.30 on Friday. Worthington Enterprises has a fifty-two week low of $45.01 and a fifty-two week high of $70.91. The company has a 50 day simple moving average of $53.64 and a two-hundred day simple moving average of $54.34. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 24.58 and a beta of 1.32. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.44 and a current ratio of 2.36.

Worthington Enterprises (NYSE:WOR - Get Free Report) last announced its earnings results on Tuesday, March 24th. The industrial products company reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.03. Worthington Enterprises had a net margin of 8.42% and a return on equity of 17.74%. The business had revenue of $378.68 million during the quarter, compared to the consensus estimate of $349.41 million. During the same quarter last year, the firm earned $0.91 earnings per share. The business's revenue for the quarter was up 24.4% on a year-over-year basis. Analysts expect that Worthington Enterprises will post 2.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Worthington Enterprises

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Worthington Enterprises by 0.4% during the third quarter. Vanguard Group Inc. now owns 3,753,434 shares of the industrial products company's stock valued at $208,278,000 after acquiring an additional 15,894 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Worthington Enterprises by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 768,013 shares of the industrial products company's stock worth $39,613,000 after purchasing an additional 4,745 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Worthington Enterprises by 67.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 481,541 shares of the industrial products company's stock worth $26,721,000 after purchasing an additional 193,319 shares during the last quarter. Fisher Asset Management LLC grew its position in Worthington Enterprises by 27.1% in the 4th quarter. Fisher Asset Management LLC now owns 436,731 shares of the industrial products company's stock worth $22,522,000 after purchasing an additional 93,140 shares during the period. Finally, Windsor Advisory Group LLC grew its position in Worthington Enterprises by 26.6% in the 4th quarter. Windsor Advisory Group LLC now owns 372,282 shares of the industrial products company's stock worth $19,199,000 after purchasing an additional 78,197 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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