CJS Securities Upgrades Worthington Enterprises (NYSE:WOR) to "Outperform"

Key Points

• Worthington Enterprises' stock rating was upgraded by CJS Securities from "market perform" to "market outperform," with a price target of $64.00, indicating a potential upside of nearly 20% from its current price.
• The company's shares recently fell by 11.4% during trading, reaching a price of $53.38, which places it well above its twelve month low of $37.88.
• Worthington Enterprises reported earnings of $0.74 per share, surpassing analysts' expectations, alongside a revenue increase of 18.0% year-over-year, totaling $303.70 million.

Worthington Enterprises (NYSE:WOR - Get Free Report) was upgraded by research analysts at CJS Securities from a "market perform" rating to an "outperform" rating in a research note issued on Wednesday, MarketBeat.com reports. The brokerage currently has a $64.00 target price on the industrial products company's stock. CJS Securities' target price would suggest a potential upside of 20.47% from the company's previous close.

WOR has been the subject of a number of other research reports. Canaccord Genuity Group lifted their target price on shares of Worthington Enterprises from $69.00 to $81.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Zacks Research cut shares of Worthington Enterprises from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 25th. The Goldman Sachs Group lifted their target price on shares of Worthington Enterprises from $44.00 to $50.00 and gave the stock a "sell" rating in a research report 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, August 24th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $60.25.

Worthington Enterprises Stock Performance

Shares of WOR opened at $53.13 on Wednesday. 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 cap of $2.65 billion, a P/E ratio of 24.94 and a beta of 1.20. The company has a 50-day moving average of $63.53 and a two-hundred day moving average of $57.47. Worthington Enterprises has a 12-month low of $37.88 and a 12-month high of $70.91.

Worthington Enterprises (NYSE:WOR - Get Free Report) last announced its earnings results on Tuesday, September 23rd. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.04. The company had revenue of $303.70 million during the quarter, compared to analysts' expectations of $291.84 million. Worthington Enterprises had a net margin of 8.91% and a return on equity of 17.84%. The firm's quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.50 earnings per share. As a group, research analysts predict that Worthington Enterprises will post 2.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Worthington Enterprises

A number of institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. grew its holdings 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 valued at $64,323,000 after purchasing an additional 188,783 shares during the period. Geode Capital Management LLC grew its holdings in 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 valued at $46,670,000 after purchasing an additional 8,293 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Worthington Enterprises by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 540,040 shares of the industrial products company's stock valued at $27,051,000 after purchasing an additional 6,764 shares during the period. Bank of New York Mellon Corp grew its holdings in Worthington Enterprises by 0.8% in the second 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 purchasing an additional 3,248 shares during the period. Finally, Millennium Management LLC grew its holdings in Worthington Enterprises by 54.9% in the first quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company's stock valued at $17,656,000 after purchasing an additional 124,867 shares during the period. 51.59% of the stock is currently 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.