Rating Action: Does Worthington Industries Inc (NYSE:WOR) Look Bad? Macquarie Research Downgrades It

November 29, 2016 - By Nellie Frank

Rating Action: Does Worthington Industries Inc (NYSE:WOR) Look Bad? Macquarie Research Downgrades It

Worthington Industries Inc (NYSE:WOR) Downgrade

In a analysts note revealed to investors and clients today, Macquarie Research downgraded shares of Worthington Industries Inc (NYSE:WOR) to a “Underperform” rating from a “Neutral” rating.

Worthington Industries, Inc. (NYSE:WOR) Ratings Coverage

Out of 2 analysts covering Worthington Industries (NYSE:WOR), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. $42 is the highest target while $30 is the lowest. The $39 average target is -32.43% below today’s ($57.72) stock price. Worthington Industries has been the topic of 4 analyst reports since August 27, 2015 according to StockzIntelligence Inc. Jefferies maintained Worthington Industries, Inc. (NYSE:WOR) rating on Thursday, September 29. Jefferies has “Hold” rating and $42 price target. JP Morgan maintained Worthington Industries, Inc. (NYSE:WOR) rating on Thursday, March 24. JP Morgan has “Neutral” rating and $36 price target. The firm earned “Hold” rating on Thursday, August 27 by Zacks.

The stock decreased 4.29% or $2.59 on November 29, hitting $57.72. About 1.03M shares traded hands or 66.13% up from the average. Worthington Industries, Inc. (NYSE:WOR) has risen 62.39% since April 26, 2016 and is uptrending. It has outperformed by 57.13% the S&P500.

Analysts await Worthington Industries, Inc. (NYSE:WOR) to report earnings on December, 19 after the close. They expect $0.74 earnings per share, up 23.33% or $0.14 from last year’s $0.6 per share. WOR’s profit will be $46.15M for 19.50 P/E if the $0.74 EPS becomes a reality. After $1.03 actual earnings per share reported by Worthington Industries, Inc. for the previous quarter, Wall Street now forecasts -28.16% negative EPS growth.

Insitutional Activity: The institutional sentiment decreased to 1.2 in Q2 2016. Its down 0.11, from 1.31 in 2016Q1. The ratio turned negative, as 21 funds sold all Worthington Industries, Inc. shares owned while 67 reduced positions. 47 funds bought stakes while 68 increased positions. They now own 31.15 million shares or 2.18% more from 30.49 million shares in 2016Q1.

Moreover, Commonwealth Equity Service Inc has 0% invested in Worthington Industries, Inc. (NYSE:WOR) for 5,605 shares. Blackrock Ltd Liability Co owns 280,485 shares or 0.02% of their US portfolio. Old Natl Bank In has 0.03% invested in the company for 11,000 shares. Benjamin F Edwards Inc accumulated 0.02% or 2,719 shares. Smith Asset Mngmt Gp Limited Partnership accumulated 729 shares or 0% of the stock. Wcm Invest Ca accumulated 130,047 shares or 0.09% of the stock. Quantitative Investment Lc accumulated 11,500 shares or 0.02% of the stock. Barclays Pcl last reported 0% of its portfolio in the stock. Us State Bank De accumulated 927 shares or 0% of the stock. Royal Savings Bank Of Canada has 43,419 shares for 0% of their US portfolio. Moreover, Citigroup Incorporated has 0% invested in Worthington Industries, Inc. (NYSE:WOR) for 22,397 shares. Td Asset Mngmt Inc last reported 7,880 shares in the company. Los Angeles Mngmt And Equity Research Inc accumulated 0.01% or 15,245 shares. Rhumbline Advisers last reported 0.01% of its portfolio in the stock. Commercial Bank Of Montreal Can accumulated 49,725 shares or 0% of the stock.

Insider Transactions: Since July 6, 2016, the stock had 0 insider buys, and 3 sales for $808,610 net activity. GILMORE GEOFFREY G sold $473,406 worth of stock or 11,079 shares. 4,188 shares were sold by BRINKMAN DALE T, worth $176,316. 3,750 Worthington Industries, Inc. (NYSE:WOR) shares with value of $158,888 were sold by LYTTLE CATHERINE M.

Worthington Industries, Inc. is a metals manufacturing company, focused on value-added steel processing and manufactured metal products. The company has a market cap of $3.60 billion. The Company’s divisions include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. It has a 20.95 P/E ratio. The Steel Processing segment buys coils of steel from integrated steel mills and mini-mills, and also toll processes steel for steel mills, end users, service centers and other processors.

According to Zacks Investment Research, “Worthington Industries is one of the leading diversified metal processing companies. The company is one of North America’s premier value-added steel processors and one of the leaders in manufactured metal products such as automotive aftermarket stampings, pressure cylinders, metal framing, metal ceiling grid systems and laser welded blanks. (Company Press Release)”

WOR Company Profile

Worthington Industries, Inc., incorporated on August 24, 1998, is a metals manufacturing company, focused on value-added steel processing and manufactured metal products. The Company’s divisions include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Company’s manufactured metal products include pressure cylinders for liquefied petroleum gas (LPG), compressed natural gas (CNG), oxygen, refrigerant and other industrial gas storage; hand torches and filled hand torch cylinders; propane-filled camping cylinders; helium-filled balloon kits; steel and fiberglass tanks and processing equipment primarily for the gas and oil industry; cryogenic pressure vessels for liquefied natural gas (LNG) and other gas storage applications; engineered cabs and operator stations and cab components, and through joint ventures, suspension grid systems for concealed and lay-in panel ceilings; laser welded blanks; light gauge steel framing for commercial and residential construction, and automotive service stampings.

More notable recent Worthington Industries, Inc. (NYSE:WOR) news were published by: Nasdaq.com which released: “The Zacks Analyst Blog Highlights: EnerSys, Worthington Industries, ACCO …” on November 29, 2016, also Bizjournals.com with their article: “Worthington Industries cutting 555 jobs, including 100+ in Ohio” published on March 24, 2015, Marketwatch.com published: “Worthington Industries’ stock surges after results beat expectations” on June 29, 2016. More interesting news about Worthington Industries, Inc. (NYSE:WOR) were released by: Bizjournals.com and their article: “Worthington Industries exec resigns” published on January 29, 2016 as well as Finance.Yahoo.com‘s news article titled: “Worthington Industries Named to Victory Media’s 2017 Military Friendly(R …” with publication date: November 11, 2016.

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