Weiss Ratings Reiterates "Hold (C)" Rating for Worthington Steel (NYSE:WS)

Key Points

• Weiss Ratings has reiterated a "Hold (C)" rating for Worthington Steel (NYSE:WS), reflecting cautious sentiment from analysts.
• KeyCorp raised its price target for Worthington Steel from $34.00 to $36.00, while Wall Street Zen downgraded the stock to a "hold" rating, resulting in a consensus rating of "Moderate Buy."
• Worthington Steel reported a quarterly EPS of $0.77, exceeding expectations, with revenue reaching $872.90 million, up 4.7% year-over-year.

Worthington Steel (NYSE:WS - Get Free Report)'s stock had its "hold (c)" rating restated by analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

WS has been the subject of a number of other reports. KeyCorp boosted their price objective on Worthington Steel from $34.00 to $36.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. Wall Street Zen downgraded Worthington Steel from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.00.

Worthington Steel Stock Up 1.6%

Worthington Steel stock traded up $0.50 during midday trading on Wednesday, reaching $31.44. The stock had a trading volume of 61,018 shares, compared to its average volume of 276,729. Worthington Steel has a 12 month low of $21.30 and a 12 month high of $47.19. The company has a market capitalization of $1.60 billion, a P/E ratio of 14.42 and a beta of 1.76. The company has a fifty day moving average price of $31.90 and a two-hundred day moving average price of $28.75. The company has a current ratio of 1.66, a quick ratio of 0.97 and a debt-to-equity ratio of 0.04.

Worthington Steel (NYSE:WS - Get Free Report) last issued its earnings results on Wednesday, September 24th. The company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.05. The business had revenue of $872.90 million during the quarter, compared to analyst estimates of $785.30 million. Worthington Steel had a return on equity of 10.11% and a net margin of 3.80%.The firm's revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 EPS. As a group, equities analysts expect that Worthington Steel will post 2.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. grew its stake in shares of Worthington Steel by 3.5% during the second quarter. Harbor Capital Advisors Inc. now owns 10,147 shares of the company's stock valued at $303,000 after buying an additional 340 shares during the last quarter. Cardinal Capital Management boosted its holdings in shares of Worthington Steel by 2.7% during the second quarter. Cardinal Capital Management now owns 16,498 shares of the company's stock worth $492,000 after purchasing an additional 429 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Worthington Steel by 57.1% during the second quarter. GAMMA Investing LLC now owns 1,219 shares of the company's stock worth $36,000 after purchasing an additional 443 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Worthington Steel by 7.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,989 shares of the company's stock worth $268,000 after purchasing an additional 608 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in shares of Worthington Steel by 2.0% during the first quarter. HighTower Advisors LLC now owns 30,812 shares of the company's stock worth $780,000 after purchasing an additional 618 shares during the period. 45.41% of the stock is owned by institutional investors.

Worthington Steel Company Profile

Worthington Steel, Inc operates as a steel processor in North America. It offers carbon flat-rolled steel and tailor welded blanks, as well as electrical steel laminations; and aluminum tailor welded blanks. The company serves various end-markets, including automotive, heavy truck, agriculture, construction, and energy.

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