Worthington Enterprises (NYSE:WOR) Upgraded by CJS Securities to “Outperform” Rating

CJS Securities upgraded shares of Worthington Enterprises (NYSE:WOR) from a market perform rating to an outperform rating in a research note released on Wednesday morning, Marketbeat.com reports. The brokerage currently has $64.00 target price on the industrial products company’s stock.

Several other analysts have also recently issued reports on the company. Canaccord Genuity Group upped their price objective on Worthington Enterprises from $69.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, June 26th. The Goldman Sachs Group upped their price target on shares of Worthington Enterprises from $44.00 to $50.00 and gave the company a “sell” rating in a research note on Thursday, June 26th. Wall Street Zen upgraded shares of Worthington Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 24th. Finally, Zacks Research downgraded shares of Worthington Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, August 25th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Worthington Enterprises presently has an average rating of “Moderate Buy” and an average price target of $60.25.

Worthington Enterprises Trading Down 11.8%

Shares of WOR stock opened at $53.13 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 2.62. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 24.94 and a beta of 1.20. Worthington Enterprises has a 1 year low of $37.88 and a 1 year high of $70.91. The firm has a fifty day moving average price of $63.53 and a 200-day moving average price of $57.47.

Worthington Enterprises (NYSE:WOR) last released its earnings results on Tuesday, September 23rd. The industrial products company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. The company had revenue of $303.70 million for the quarter, compared to analysts’ expectations of $291.84 million. Worthington Enterprises had a net margin of 8.91% and a return on equity of 17.84%. The firm’s revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 EPS. As a group, equities analysts predict 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 Monday, December 29th. Stockholders of record on Monday, December 15th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, December 15th. Worthington Enterprises’s payout ratio is currently 39.79%.

Hedge Funds Weigh In On Worthington Enterprises

A number of large investors have recently bought and sold shares of the business. Caldwell Trust Co purchased a new position in Worthington Enterprises in the second quarter worth $112,000. Squarepoint Ops LLC grew its holdings in Worthington Enterprises by 128.8% in the second quarter. Squarepoint Ops LLC now owns 115,310 shares of the industrial products company’s stock worth $7,338,000 after purchasing an additional 64,909 shares during the last quarter. State of Wyoming purchased a new position in Worthington Enterprises in the second quarter worth $199,000. Public Sector Pension Investment Board grew its holdings in Worthington Enterprises by 7.4% in the second quarter. Public Sector Pension Investment Board now owns 105,618 shares of the industrial products company’s stock worth $6,722,000 after purchasing an additional 7,262 shares during the last quarter. Finally, Security National Bank of SO Dak purchased a new position in Worthington Enterprises in the second quarter worth $210,000. Institutional investors own 51.59% of the company’s stock.

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.