Zacks Research Downgrades Worthington Enterprises (NYSE:WOR) to Hold

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.

Zacks Research cut shares of Worthington Enterprises (NYSE:WOR - Free Report) from a strong-buy rating to a hold rating in a research note released on Monday, August 25th,Zacks.com reports.

Other analysts have also issued reports about the company. The Goldman Sachs Group lifted their price target on Worthington Enterprises from $44.00 to $50.00 and gave the stock a "sell" rating in a report on Thursday, June 26th. Wall Street Zen upgraded Worthington Enterprises from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 24th. Finally, Canaccord Genuity Group lifted their price target on Worthington Enterprises from $69.00 to $81.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Worthington Enterprises currently has a consensus rating of "Hold" and an average price target of $59.00.

Worthington Enterprises Stock Performance

Worthington Enterprises stock traded down $0.75 during mid-day trading on Monday, reaching $65.81. 143,548 shares of the company's stock were exchanged, compared to its average volume of 190,290. The business's fifty day simple moving average is $63.71 and its 200 day simple moving average is $55.07. The firm has a market capitalization of $3.28 billion, a PE ratio of 34.45 and a beta of 1.20. Worthington Enterprises has a one year low of $37.88 and a one year high of $70.91. The company has a quick ratio of 2.62, a current ratio of 3.48 and a debt-to-equity ratio of 0.32.

Worthington Enterprises (NYSE:WOR - Get Free Report) last issued its quarterly earnings results on Tuesday, June 24th. The industrial products company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.22. The business had revenue of $317.88 million for the quarter, compared to analyst estimates of $300.96 million. Worthington Enterprises had a return on equity of 16.66% and a net margin of 8.33%.Worthington Enterprises's quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the company posted $0.74 earnings per share. On average, sell-side analysts expect that Worthington Enterprises will post 2.67 earnings per share for the current year.

Worthington Enterprises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a $0.19 dividend. This is an increase from Worthington Enterprises's previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, September 15th. Worthington Enterprises's dividend payout ratio (DPR) is 35.60%.

Institutional Trading of Worthington Enterprises

A number of large investors have recently bought and sold shares of the company. Teacher Retirement System of Texas increased its position in Worthington Enterprises by 3.6% in the second quarter. Teacher Retirement System of Texas now owns 4,930 shares of the industrial products company's stock worth $314,000 after buying an additional 173 shares during the last quarter. CWM LLC increased its position in Worthington Enterprises by 33.5% in the second quarter. CWM LLC now owns 813 shares of the industrial products company's stock worth $52,000 after buying an additional 204 shares during the last quarter. VELA Investment Management LLC grew its position in shares of Worthington Enterprises by 0.7% in the second quarter. VELA Investment Management LLC now owns 31,363 shares of the industrial products company's stock valued at $1,996,000 after purchasing an additional 213 shares in the last quarter. ORG Partners LLC grew its position in shares of Worthington Enterprises by 61.0% in the second quarter. ORG Partners LLC now owns 660 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 250 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Worthington Enterprises by 0.8% in the second quarter. Nisa Investment Advisors LLC now owns 33,460 shares of the industrial products company's stock valued at $2,129,000 after purchasing an additional 255 shares in the last quarter. 51.59% of the stock is owned by hedge funds and other institutional investors.

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.