Worthington Steel (NYSE:WS) Stock Rating Upgraded by Wall Street Zen

Key Points

• Worthington Steel's stock rating was upgraded from a "hold" to a "buy" by Wall Street Zen, reflecting positive sentiment from investment analysts.
• The company reported earnings of $0.77 per share for the last quarter, exceeding analyst expectations and showing a 4.7% increase in revenue year-over-year.
• KeyCorp increased its price target for Worthington Steel from $34.00 to $36.00, and the stock currently holds a consensus rating of "Moderate Buy."

Worthington Steel (NYSE:WS - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Several other research firms have also weighed in on WS. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Worthington Steel in a report on Wednesday, October 8th. KeyCorp raised their price target on shares of Worthington Steel from $34.00 to $36.00 and gave the company an "overweight" rating in a research report on Tuesday, September 16th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $36.00.

Worthington Steel Stock Performance

NYSE WS opened at $30.39 on Friday. The stock has a 50-day simple moving average of $31.96 and a two-hundred day simple moving average of $28.97. The firm has a market capitalization of $1.54 billion, a P/E ratio of 13.94 and a beta of 1.76. Worthington Steel has a fifty-two week low of $21.30 and a fifty-two week high of $47.19. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.97 and a current ratio of 1.66.

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

Hedge Funds Weigh In On Worthington Steel

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WS. Cerity Partners LLC increased its stake in shares of Worthington Steel by 227.2% during the first quarter. Cerity Partners LLC now owns 24,333 shares of the company's stock worth $616,000 after purchasing an additional 16,896 shares in the last quarter. Foundry Partners LLC increased its stake in Worthington Steel by 110.2% during the 1st quarter. Foundry Partners LLC now owns 219,079 shares of the company's stock worth $5,549,000 after buying an additional 114,851 shares in the last quarter. Strs Ohio purchased a new stake in Worthington Steel during the 1st quarter worth approximately $585,000. Nuveen LLC acquired a new position in shares of Worthington Steel during the first quarter valued at approximately $8,901,000. Finally, Russell Investments Group Ltd. lifted its position in shares of Worthington Steel by 16.6% in the first quarter. Russell Investments Group Ltd. now owns 92,441 shares of the company's stock valued at $2,342,000 after acquiring an additional 13,135 shares in the last quarter. 45.41% of the stock is owned by hedge funds and other institutional investors.

About Worthington Steel

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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