Worthington Steel (NYSE:WS) Lowered to “Hold” Rating by Zacks Research

Worthington Steel (NYSE:WS) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday, Zacks reports.

A number of other equities research analysts also recently issued reports on the stock. KeyCorp reaffirmed an “overweight” rating on shares of Worthington Steel in a research note on Monday, June 29th. Weiss Ratings cut shares of Worthington Steel from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, August 3rd. Finally, Wall Street Zen downgraded shares of Worthington Steel from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $46.00.

Worthington Steel Stock Performance

NYSE:WS opened at $33.23 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.46 and a quick ratio of 0.92. Worthington Steel has a 1 year low of $27.22 and a 1 year high of $49.17. The stock’s 50 day simple moving average is $35.50 and its two-hundred day simple moving average is $36.30. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 23.91 and a beta of 2.27.

Worthington Steel (NYSE:WS) last issued its quarterly earnings data on Thursday, June 25th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. Worthington Steel had a return on equity of 8.87% and a net margin of 0.50%.The business had revenue of $929.20 million for the quarter, compared to analysts’ expectations of $992.00 million. During the same period in the prior year, the firm earned $1.05 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities analysts anticipate that Worthington Steel will post 3.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Worthington Steel

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its holdings in shares of Worthington Steel by 1,239.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 750 shares of the company’s stock worth $26,000 after acquiring an additional 694 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in Worthington Steel by 56.4% during the 4th quarter. Hantz Financial Services Inc. now owns 910 shares of the company’s stock valued at $32,000 after purchasing an additional 328 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Worthington Steel during the 2nd quarter valued at about $51,000. OP Asset Management Ltd bought a new stake in Worthington Steel in the first quarter worth about $49,000. Finally, Security National Bank of SO Dak bought a new stake in Worthington Steel in the second quarter worth about $111,000. Hedge funds and other institutional investors own 45.41% of the company’s stock.

Worthington Steel Company Profile

Worthington Steel, Inc is a steel processing company that produces value-added flat-rolled steel products for manufacturers and industrial customers. Its operations include steel slitting, cold rolling, coating, electrical steel processing and other specialized treatments designed to meet customers’ product and performance requirements.

The company supplies products and services to a range of end markets, including automotive, electrical infrastructure, construction, energy, industrial equipment and consumer products.