Worthington Industries (NYSE:WOR) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
Several other analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Worthington Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Jefferies Financial Group lowered their price target on shares of Worthington Industries from $48.00 to $47.00 and set a “hold” rating on the stock in a research report on Thursday, September 27th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Worthington Industries from $48.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday, September 27th.
Shares of NYSE WOR traded up $0.79 during midday trading on Wednesday, hitting $44.37. The company’s stock had a trading volume of 270,614 shares, compared to its average volume of 308,831. Worthington Industries has a one year low of $39.29 and a one year high of $49.93. The company has a quick ratio of 1.18, a current ratio of 1.98 and a debt-to-equity ratio of 0.72. The firm has a market cap of $2.53 billion, a P/E ratio of 15.41 and a beta of 0.84.
Worthington Industries (NYSE:WOR) last posted its quarterly earnings results on Wednesday, September 26th. The industrial products company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.10). Worthington Industries had a net margin of 5.49% and a return on equity of 18.42%. The business had revenue of $988.10 million during the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the firm earned $0.73 EPS. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. Equities analysts expect that Worthington Industries will post 3.21 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Xact Kapitalforvaltning AB increased its position in Worthington Industries by 67.8% in the 1st quarter. Xact Kapitalforvaltning AB now owns 8,416 shares of the industrial products company’s stock valued at $361,000 after acquiring an additional 3,400 shares during the period. Fisher Asset Management LLC acquired a new stake in Worthington Industries in the 2nd quarter valued at approximately $4,430,000. Arbor Investment Advisors LLC acquired a new stake in Worthington Industries in the 2nd quarter valued at approximately $1,597,000. Gateway Investment Advisers LLC acquired a new stake in Worthington Industries in the 2nd quarter valued at approximately $2,197,000. Finally, Bank of Montreal Can acquired a new stake in Worthington Industries in the 2nd quarter valued at approximately $119,000. 50.46% of the stock is currently owned by institutional investors.
Worthington Industries Company Profile
Worthington Industries, Inc, a metals manufacturing company, focuses on value-added steel processing and manufactured metal products in the United States, Austria, Canada, Mexico, Poland, Portugal, and Turkey. The company operates through three segments: Steel Processing, Pressure Cylinders, and Engineered Cabs.
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