Worthington Enterprises (NYSE:WOR) Stock Rating Lowered by Zacks Research

Key Points

• Worthington Enterprises has been downgraded from a "strong-buy" to a "hold" rating by Zacks Research, with other analysts also providing mixed ratings.
• The stock's current consensus price target is $59.00, showing significant analyst divergence with prices ranging from $44.00 to $81.00.
• In the latest earnings report, Worthington Enterprises beat earnings estimates with $1.06 EPS against an expected $0.84, despite a slight decline in revenue compared to the previous year.

Worthington Enterprises (NYSE:WOR - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other research analysts have also issued reports about the stock. The Goldman Sachs Group raised their target price on shares of Worthington Enterprises from $44.00 to $50.00 and gave the company a "sell" rating in a report on Thursday, June 26th. Canaccord Genuity Group lifted their price objective on shares of Worthington Enterprises from $69.00 to $81.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Finally, Wall Street Zen upgraded shares of Worthington Enterprises from a "buy" rating to a "strong-buy" rating in a report on Sunday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $59.00.

Worthington Enterprises Trading Up 0.4%

Shares of WOR stock opened at $67.02 on Monday. The company has a current ratio of 3.48, a quick ratio of 2.62 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 35.09 and a beta of 1.21. Worthington Enterprises has a 12-month low of $37.88 and a 12-month high of $70.91. The stock's 50-day moving average price is $63.24 and its 200-day moving average price is $54.49.

Worthington Enterprises (NYSE:WOR - Get Free Report) last released its quarterly earnings results on Tuesday, June 24th. The industrial products company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.22. Worthington Enterprises had a return on equity of 16.66% and a net margin of 8.33%.The business had revenue of $317.88 million during the quarter, compared to analysts' expectations of $300.96 million. During the same quarter last year, the business posted $0.74 EPS. The firm's revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts predict that Worthington Enterprises will post 2.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Worthington Enterprises

Hedge funds have recently bought and sold shares of the business. American Century Companies Inc. increased its stake in Worthington Enterprises by 23.0% in the second quarter. American Century Companies Inc. now owns 1,010,730 shares of the industrial products company's stock worth $64,323,000 after purchasing an additional 188,783 shares during the period. Geode Capital Management LLC grew its holdings in shares of Worthington Enterprises by 1.1% in the second quarter. Geode Capital Management LLC now owns 733,238 shares of the industrial products company's stock worth $46,670,000 after purchasing an additional 8,293 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Worthington Enterprises by 1.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 540,040 shares of the industrial products company's stock worth $27,051,000 after buying an additional 6,764 shares during the period. Bank of New York Mellon Corp lifted its holdings in Worthington Enterprises by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 408,990 shares of the industrial products company's stock valued at $26,028,000 after buying an additional 3,248 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Worthington Enterprises by 7.4% in the 4th quarter. Northern Trust Corp now owns 380,851 shares of the industrial products company's stock valued at $15,276,000 after buying an additional 26,178 shares during the period. Institutional investors own 51.59% of the company's stock.

About Worthington Enterprises

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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