Worthington Enterprises (NYSE:WOR) PT Lowered to $43.00

Worthington Enterprises (NYSE:WOR) had its price target cut by equities researchers at The Goldman Sachs Group from $56.00 to $43.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “sell” rating on the industrial products company’s stock. The Goldman Sachs Group’s price target would indicate a potential downside of 6.93% from the stock’s previous close.

WOR has been the topic of several other research reports. Canaccord Genuity Group reduced their price objective on shares of Worthington Enterprises from $64.00 to $52.00 and set a “hold” rating on the stock in a research note on Thursday, June 27th. StockNews.com downgraded Worthington Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $50.33.

Worthington Enterprises Price Performance

Worthington Enterprises stock opened at $46.20 on Tuesday. The stock has a 50-day moving average price of $54.77 and a two-hundred day moving average price of $57.71. Worthington Enterprises has a 12 month low of $36.29 and a 12 month high of $69.96. The company has a market capitalization of $2.31 billion, a PE ratio of 20.90 and a beta of 1.29. The company has a current ratio of 3.78, a quick ratio of 2.86 and a debt-to-equity ratio of 0.33.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings data on Wednesday, June 26th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.14). Worthington Enterprises had a net margin of 3.79% and a return on equity of 15.57%. The business had revenue of $318.80 million during the quarter, compared to the consensus estimate of $352.82 million. During the same quarter last year, the business earned $2.74 EPS. The firm’s quarterly revenue was down 13.6% compared to the same quarter last year.

Insider Activity

In related news, Director Ozey K. Horton, Jr. sold 1,000 shares of Worthington Enterprises stock in a transaction on Friday, April 5th. The shares were sold at an average price of $61.34, for a total transaction of $61,340.00. Following the completion of the transaction, the director now owns 40,688 shares of the company’s stock, valued at $2,495,801.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 38.50% of the company’s stock.

Hedge Funds Weigh In On Worthington Enterprises

Several institutional investors have recently added to or reduced their stakes in the business. New York State Teachers Retirement System lifted its stake in Worthington Enterprises by 0.3% in the first quarter. New York State Teachers Retirement System now owns 57,557 shares of the industrial products company’s stock valued at $3,582,000 after buying an additional 200 shares during the period. Millburn Ridgefield Corp lifted its stake in Worthington Enterprises by 55.7% in the fourth quarter. Millburn Ridgefield Corp now owns 576 shares of the industrial products company’s stock valued at $33,000 after buying an additional 206 shares during the period. Comerica Bank lifted its stake in Worthington Enterprises by 0.5% in the first quarter. Comerica Bank now owns 46,919 shares of the industrial products company’s stock valued at $2,920,000 after buying an additional 250 shares during the period. Ritholtz Wealth Management lifted its stake in Worthington Enterprises by 2.2% in the fourth quarter. Ritholtz Wealth Management now owns 11,477 shares of the industrial products company’s stock valued at $660,000 after buying an additional 251 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Worthington Enterprises by 3.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,153 shares of the industrial products company’s stock worth $454,000 after purchasing an additional 293 shares during the period. 51.59% of the stock is owned by institutional investors and hedge funds.

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.