Worthington Enterprises (NYSE:WOR) Given New $44.00 Price Target at The Goldman Sachs Group

Worthington Enterprises (NYSE:WOR) had its price objective raised by equities research analysts at The Goldman Sachs Group from $39.00 to $44.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “sell” rating on the industrial products company’s stock. The Goldman Sachs Group’s price objective suggests a potential downside of 8.85% from the company’s current price.

WOR has been the subject of several other reports. Seaport Res Ptn upgraded shares of Worthington Enterprises to a “strong-buy” rating in a research note on Wednesday, January 29th. Canaccord Genuity Group lifted their price target on Worthington Enterprises from $49.00 to $54.00 and gave the stock a “hold” rating in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $48.00.

Worthington Enterprises Price Performance

WOR stock traded down $2.71 during mid-day trading on Thursday, reaching $48.27. 173,237 shares of the company traded hands, compared to its average volume of 294,193. Worthington Enterprises has a 52-week low of $37.88 and a 52-week high of $62.20. The company has a market capitalization of $2.42 billion, a P/E ratio of 58.16 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.56 and a quick ratio of 2.50. The company has a fifty day moving average price of $42.89 and a 200-day moving average price of $41.62.

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

Hedge Funds Weigh In On Worthington Enterprises

Institutional investors and hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in shares of Worthington Enterprises by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 493,280 shares of the industrial products company’s stock valued at $20,446,000 after purchasing an additional 18,480 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Worthington Enterprises by 39.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 46,323 shares of the industrial products company’s stock worth $1,920,000 after purchasing an additional 13,097 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of Worthington Enterprises in the third quarter worth about $1,014,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Worthington Enterprises in the 3rd quarter worth approximately $85,000. Finally, Paloma Partners Management Co purchased a new position in Worthington Enterprises during the third quarter valued at approximately $459,000. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

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.