Rating Alert: Is Worthington (NYSE:WOR) Worth Your Time After Placed Macquarie’s Downgrade?

November 29, 2016 - By Clifton Ray

Rating Alert: Is Worthington (NYSE:WOR) Worth Your Time After Placed Macquarie's Downgrade?

Worthington (NYSE:WOR) Downgrade

In a a report shared with investors on 29 November, Macquarie stated it was downgrading Worthington (NYSE:WOR) stock rating from a Neutral to a Underperform.

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 -33.38% below today’s ($58.54) stock price. Worthington Industries has been the topic of 4 analyst reports since August 27, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating by JP Morgan given on Thursday, March 24. As per Thursday, August 27, the company rating was downgraded by Zacks. Jefferies maintained the stock with “Hold” rating in Thursday, September 29 report.

About 137,351 shares traded hands. 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 $46.05 million for 19.76 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 fall, 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.

Janney Montgomery Scott Ltd Company holds 5,777 shares or 0% of its portfolio. Gsa Capital Ptnrs Limited Liability Partnership, a United Kingdom-based fund reported 51,844 shares. New York State Teachers Retirement System accumulated 122,075 shares or 0.01% of the stock. Brandywine Glob Investment Mngmt Lc owns 228,444 shares or 0.07% of their US portfolio. Lsv Asset owns 24,629 shares or 0% of their US portfolio. Piedmont Investment Advsr Limited Liability Corp holds 148 shares or 0% of its portfolio. Alliancebernstein L P holds 0.01% or 137,405 shares in its portfolio. Liberty Mutual Asset Incorporated reported 19,762 shares or 0.03% of all its holdings. Amalgamated Bank & Trust holds 5,438 shares or 0.01% of its portfolio. Stifel Fin holds 0% or 5,861 shares in its portfolio. Fny Managed Accounts, a New York-based fund reported 800 shares. Fuller And Thaler Asset Management has 800 shares for 0% of their US portfolio. Northern Tru Corporation has invested 0.01% of its portfolio in Worthington Industries, Inc. (NYSE:WOR). Acadian Asset Limited Co last reported 0.01% of its portfolio in the stock. Goldman Sachs Grp last reported 0% of its portfolio in the stock.

Insider Transactions: Since July 6, 2016, the stock had 0 insider purchases, and 3 insider sales for $808,610 net activity. 3,750 shares were sold by LYTTLE CATHERINE M, worth $158,888 on Wednesday, July 6. Shares for $473,406 were sold by GILMORE GEOFFREY G. 4,188 shares were sold by BRINKMAN DALE T, worth $176,316 on Thursday, July 7.

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 $3.65 billion. The Company’s divisions include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. It has a 21.25 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 important recent Worthington Industries, Inc. (NYSE:WOR) news were published by: Bizjournals.com which released: “Worthington Industries cutting 555 jobs, including 100+ in Ohio” on March 24, 2015, also Marketwatch.com published article titled: “Worthington Industries’ stock surges after results beat expectations”, Bizjournals.com published: “Worthington Industries exec resigns” on January 29, 2016. More interesting news about Worthington Industries, Inc. (NYSE:WOR) was released by: Finance.Yahoo.com and their article: “Worthington Industries Named to Victory Media’s 2017 Military Friendly(R …” with publication date: November 11, 2016.

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