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

Key Points

• Weiss Ratings has maintained a "Hold (C)" rating for Worthington Steel, indicating a cautious stance on the stock.
• KeyCorp upgraded the price target for Worthington Steel from $34 to $36, while Wall Street Zen upgraded its rating from "hold" to "buy."
• Worthington Steel's recent quarterly earnings showed a profit of $0.77 EPS, surpassing expectations, and a year-over-year revenue increase of 4.7%.

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

A number of other brokerages have also issued reports on WS. KeyCorp increased their price target on Worthington Steel from $34.00 to $36.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 16th. Wall Street Zen upgraded Worthington Steel from a "hold" rating to a "buy" rating in a research note on Saturday, October 18th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $36.00.

Worthington Steel Stock Performance

Shares of NYSE WS traded up $0.51 during midday trading on Friday, hitting $31.58. 56,569 shares of the stock traded hands, compared to its average volume of 272,950. The firm has a 50-day moving average of $31.89 and a two-hundred day moving average of $29.16. The firm has a market capitalization of $1.61 billion, a P/E ratio of 14.48 and a beta of 1.76. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.97 and a current ratio of 1.66. Worthington Steel has a one year low of $21.30 and a one year high of $47.19.

Worthington Steel (NYSE:WS - Get Free Report) last posted its quarterly earnings data on Wednesday, September 24th. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.72 by $0.05. The firm 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%.Worthington Steel's revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.56 EPS. On average, equities analysts forecast that Worthington Steel will post 2.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Cerity Partners LLC raised its position in shares of Worthington Steel by 227.2% in the first quarter. Cerity Partners LLC now owns 24,333 shares of the company's stock worth $616,000 after acquiring an additional 16,896 shares during the period. Foundry Partners LLC raised its position in shares of Worthington Steel by 110.2% in the first quarter. Foundry Partners LLC now owns 219,079 shares of the company's stock worth $5,549,000 after acquiring an additional 114,851 shares during the period. Strs Ohio acquired a new position in shares of Worthington Steel in the first quarter worth about $585,000. Nuveen LLC acquired a new position in shares of Worthington Steel in the first quarter worth about $8,901,000. Finally, Russell Investments Group Ltd. raised its position in shares of Worthington Steel by 16.6% in the first quarter. Russell Investments Group Ltd. now owns 92,441 shares of the company's stock worth $2,342,000 after acquiring an additional 13,135 shares during the period. Institutional investors and hedge funds own 45.41% of the company's stock.

About Worthington Steel

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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