Canaccord Genuity Group Boosts Worthington Enterprises (NYSE:WOR) Price Target to $54.00

Worthington Enterprises (NYSE:WOR) had its price target boosted by Canaccord Genuity Group from $49.00 to $54.00 in a research note published on Thursday,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

Separately, Seaport Res Ptn upgraded Worthington Enterprises to a “strong-buy” rating in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $47.67.

Worthington Enterprises Stock Performance

Worthington Enterprises stock opened at $50.44 on Thursday. The company has a 50 day moving average price of $42.39 and a 200-day moving average price of $41.49. The company has a market capitalization of $2.52 billion, a PE ratio of 60.77 and a beta of 1.21. Worthington Enterprises has a fifty-two week low of $37.88 and a fifty-two week high of $62.56. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.50 and a current ratio of 3.56.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings data on Tuesday, March 25th. The industrial products company reported $0.91 earnings per share for the quarter, beating the consensus estimate 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 firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 earnings per share. As a group, equities analysts forecast that Worthington Enterprises will post 2.67 earnings per share for the current year.

Worthington Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.35%. Worthington Enterprises’s payout ratio is 57.63%.

Institutional Investors Weigh In On Worthington Enterprises

A number of large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. lifted its holdings in shares of Worthington Enterprises by 9.7% during the fourth quarter. Pacer Advisors Inc. now owns 1,770,924 shares of the industrial products company’s stock worth $71,032,000 after purchasing an additional 156,762 shares during the period. Geode Capital Management LLC increased its stake in shares of Worthington Enterprises by 3.3% in the third quarter. Geode Capital Management LLC now owns 813,828 shares of the industrial products company’s stock worth $33,739,000 after acquiring an additional 25,824 shares during the period. American Century Companies Inc. raised its holdings in shares of Worthington Enterprises by 11.5% during the fourth quarter. American Century Companies Inc. now owns 662,149 shares of the industrial products company’s stock worth $26,559,000 after purchasing an additional 68,363 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Worthington Enterprises by 8.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 533,276 shares of the industrial products company’s stock valued at $21,390,000 after purchasing an additional 39,996 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Worthington Enterprises by 3.6% during the 4th quarter. Bank of New York Mellon Corp now owns 414,546 shares of the industrial products company’s stock valued at $16,627,000 after buying an additional 14,328 shares during the last quarter. 51.59% of the stock is owned by hedge funds and other institutional investors.

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.