Worthington Enterprises (NYSE:WOR) Upgraded to Buy at Canaccord Genuity Group

Worthington Enterprises (NYSE:WOR - Get Free Report) was upgraded by investment analysts at Canaccord Genuity Group from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a $67.00 price target on the industrial products company's stock, up from their prior price target of $54.00. Canaccord Genuity Group's price objective suggests a potential upside of 28.60% from the stock's current price.

Other equities research analysts have also issued reports about the stock. The Goldman Sachs Group lifted their target price on shares of Worthington Enterprises from $39.00 to $44.00 and gave the company a "sell" rating in a research report on Thursday, April 3rd. Seaport Res Ptn upgraded Worthington Enterprises to a "strong-buy" rating in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Worthington Enterprises has an average rating of "Hold" and a consensus target price of $52.33.

Worthington Enterprises Trading Up 1.9 %

Shares of Worthington Enterprises stock opened at $52.10 on Monday. The stock has a market capitalization of $2.60 billion, a P/E ratio of 62.77 and a beta of 1.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.50 and a current ratio of 3.56. The stock's 50-day simple moving average is $45.52 and its 200 day simple moving average is $42.57. Worthington Enterprises has a 52-week low of $37.88 and a 52-week high of $60.71.

Worthington Enterprises (NYSE:WOR - Get Free Report) last posted its earnings results on Tuesday, March 25th. The industrial products company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.18. Worthington Enterprises had a return on equity of 14.70% and a net margin of 3.66%. The business had revenue of $304.52 million during the quarter, compared to analyst estimates of $289.09 million. During the same quarter in the previous year, the firm earned $0.80 EPS. The company's quarterly revenue was down 3.9% compared to the same quarter last year. As a group, research analysts anticipate that Worthington Enterprises will post 2.67 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Quadrant Capital Group LLC increased its stake in Worthington Enterprises by 121.0% in the 4th quarter. Quadrant Capital Group LLC now owns 831 shares of the industrial products company's stock worth $33,000 after purchasing an additional 455 shares during the period. Anchor Investment Management LLC purchased a new position in shares of Worthington Enterprises in the fourth quarter worth $40,000. State of Wyoming bought a new stake in Worthington Enterprises during the 4th quarter valued at $51,000. Itau Unibanco Holding S.A. boosted its position in Worthington Enterprises by 41.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,696 shares of the industrial products company's stock valued at $68,000 after buying an additional 501 shares during the period. Finally, KBC Group NV grew its holdings in Worthington Enterprises by 63.7% in the 4th quarter. KBC Group NV now owns 1,860 shares of the industrial products company's stock worth $75,000 after acquiring an additional 724 shares during the last quarter. Hedge funds and other institutional investors own 51.59% of the company's stock.

Worthington Enterprises Company Profile

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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