Worthington Steel (NYSE:WS) Lowered to Hold Rating by Wall Street Zen

Key Points

• Worthington Steel has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen in a recent research report.
• KeyCorp raised its price target for the stock from $34.00 to $36.00, maintaining an "overweight" rating amid the downgrade.
• The company's earnings report showed a 3.80% net margin and revenue of $872.90 million, exceeding analysts' expectations.

Worthington Steel (NYSE:WS - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Friday.

Separately, KeyCorp upped 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. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $36.00.

Worthington Steel Stock Up 3.5%

WS stock opened at $30.14 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.66 and a debt-to-equity ratio of 0.04. Worthington Steel has a 52 week low of $21.30 and a 52 week high of $47.19. The business has a 50-day simple moving average of $32.00 and a 200 day simple moving average of $28.52. The company has a market cap of $1.53 billion, a PE ratio of 12.88 and a beta of 1.89.

Worthington Steel (NYSE:WS - Get Free Report) last issued its quarterly earnings data on Wednesday, September 24th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.05. Worthington Steel had a net margin of 3.80% and a return on equity of 10.11%. The firm had revenue of $872.90 million for the quarter, compared to analysts' expectations of $785.30 million. During the same quarter in the prior year, the business earned $0.56 EPS. The business's quarterly revenue was up 4.7% on a year-over-year basis. Sell-side analysts anticipate that Worthington Steel will post 2.26 EPS for the current fiscal year.

Institutional Trading of Worthington Steel

Several large investors have recently modified their holdings of the stock. Ameritas Advisory Services LLC bought a new position in Worthington Steel during the 2nd quarter valued at approximately $25,000. AlphaQuest LLC bought a new position in Worthington Steel in the 2nd quarter valued at $34,000. GAMMA Investing LLC lifted its holdings in Worthington Steel by 57.1% during the second quarter. GAMMA Investing LLC now owns 1,219 shares of the company's stock worth $36,000 after buying an additional 443 shares during the period. Caldwell Trust Co acquired a new position in shares of Worthington Steel in the 2nd quarter valued at $52,000. Finally, CWM LLC increased its holdings in Worthington Steel by 141.5% in the first quarter. CWM LLC now owns 2,186 shares of the company's stock valued at $55,000 after buying an additional 1,281 shares in the last quarter. Institutional investors and hedge funds own 45.41% of the company's stock.

Worthington Steel Company Profile

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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