Analysts Set Worthington Enterprises, Inc. (NYSE:WOR) Price Target at $61.00

Shares of Worthington Enterprises, Inc. (NYSE:WOR) have earned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $61.00.

WOR has been the topic of several research reports. Canaccord Genuity Group dropped their target price on Worthington Enterprises from $73.00 to $69.00 and set a “buy” rating on the stock in a research report on Thursday, December 18th. CJS Securities upgraded shares of Worthington Enterprises from a “market perform” rating to an “outperform” rating and set a $64.00 target price for the company in a research report on Wednesday, September 24th. Wall Street Zen upgraded shares of Worthington Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a research note on Wednesday, October 8th.

Institutional Investors Weigh In On Worthington Enterprises

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WOR. Y Intercept Hong Kong Ltd boosted its position in shares of Worthington Enterprises by 134.7% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 20,640 shares of the industrial products company’s stock valued at $1,314,000 after acquiring an additional 11,846 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in Worthington Enterprises during the second quarter valued at $226,000. Strs Ohio bought a new position in Worthington Enterprises during the first quarter valued at $496,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Worthington Enterprises in the 2nd quarter worth $1,826,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Worthington Enterprises by 377.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 288,222 shares of the industrial products company’s stock worth $18,342,000 after buying an additional 227,792 shares during the last quarter. 51.59% of the stock is owned by hedge funds and other institutional investors.

Worthington Enterprises Stock Down 2.1%

WOR opened at $53.39 on Thursday. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 25.18 and a beta of 1.34. The firm has a 50 day moving average price of $54.09 and a 200-day moving average price of $58.56. Worthington Enterprises has a twelve month low of $39.05 and a twelve month high of $70.91. The company has a quick ratio of 2.26, a current ratio of 3.26 and a debt-to-equity ratio of 0.32.

Worthington Enterprises (NYSE:WOR) last announced its earnings results on Tuesday, December 16th. The industrial products company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The company had revenue of $327.45 million for the quarter, compared to analysts’ expectations of $310.60 million. Worthington Enterprises had a net margin of 8.46% and a return on equity of 17.70%. Worthington Enterprises’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. Equities research 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, March 27th. Shareholders of record on Friday, March 13th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, March 13th. Worthington Enterprises’s payout ratio is currently 35.85%.

About Worthington Enterprises

Worthington Enterprises (NYSE:WOR) is a diversified metal manufacturing company that produces pressure vessels, engineered assemblies and fabricated metal products. The company’s portfolio includes the design and manufacture of cylinders for compressed gases, such as propane, natural gas and hydrogen, as well as transport tanks and other pressure-containment solutions for the industrial gas, energy and transportation markets. In addition to its pressure vessel operations, Worthington Enterprises offers metal processing and distribution services, supplying coil, sheet and plate products to customers across multiple industries.

Founded in 1955 and headquartered in Columbus, Ohio, Worthington Enterprises has grown from a single steel processing facility into a multi‐division organization with operations in the United States, Canada and Mexico.