Wall Street Zen Upgrades Worthington Steel (NYSE:WS) to Buy

Worthington Steel (NYSE:WS) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Separately, KeyCorp dropped their price target on Worthington Steel from $41.00 to $34.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th.

Worthington Steel Price Performance

WS stock opened at $32.42 on Friday. The firm has a market capitalization of $1.64 billion, a P/E ratio of 14.87 and a beta of 1.87. The business’s 50-day moving average is $26.76 and its two-hundred day moving average is $27.40. Worthington Steel has a 1 year low of $21.30 and a 1 year high of $47.19.

Worthington Steel (NYSE:WS) last released its quarterly earnings data on Wednesday, June 25th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.22. Worthington Steel had a return on equity of 9.43% and a net margin of 3.58%. The business had revenue of $832.90 million for the quarter, compared to the consensus estimate of $800.45 million. During the same quarter in the prior year, the business posted $1.06 EPS. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. On average, analysts expect that Worthington Steel will post 2.26 EPS for the current year.

Institutional Investors Weigh In On Worthington Steel

Several hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP lifted its holdings in shares of Worthington Steel by 0.6% during the fourth quarter. Wellington Management Group LLP now owns 69,920 shares of the company’s stock worth $2,225,000 after purchasing an additional 434 shares during the period. Bank of Montreal Can lifted its holdings in Worthington Steel by 6.0% in the fourth quarter. Bank of Montreal Can now owns 8,848 shares of the company’s stock valued at $282,000 after acquiring an additional 497 shares during the period. HighTower Advisors LLC lifted its holdings in Worthington Steel by 2.0% in the first quarter. HighTower Advisors LLC now owns 30,812 shares of the company’s stock valued at $780,000 after acquiring an additional 618 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Worthington Steel by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,505 shares of the company’s stock valued at $589,000 after acquiring an additional 634 shares during the period. Finally, PDS Planning Inc lifted its holdings in Worthington Steel by 6.4% in the first quarter. PDS Planning Inc now owns 12,133 shares of the company’s stock valued at $307,000 after acquiring an additional 729 shares during the period. 45.41% of the stock is owned by institutional investors and hedge funds.

Worthington Steel Company Profile

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.