Thu Sep 26 13:30:38 UTC 2024: ## Worthington Enterprises Stock Target Price Cut by Canaccord Genuity, Analysts Mixed on Outlook
**New York, NY (MarketBeat News)** – Worthington Enterprises (NYSE: WOR), an industrial manufacturing company, saw its stock target price reduced by Canaccord Genuity Group from $52.00 to $46.00 on Thursday. This move follows a similar reduction by Goldman Sachs Group earlier this month. While Canaccord Genuity maintains a “hold” rating on the stock, Goldman Sachs has issued a “sell” rating.
The latest target price suggests a potential upside of 7.63% from the stock’s current price. However, analysts remain divided on the company’s prospects. One research analyst has rated the stock with a sell rating while three have assigned a hold rating. MarketBeat’s consensus target price stands at $45.00.
This mixed sentiment comes amidst recent financial performance that fell short of expectations. Worthington Enterprises reported $0.50 EPS for the quarter ending September 24th, missing analysts’ estimates of $0.71. Revenue also came in below expectations at $257.31 million compared to analysts’ forecast of $296.05 million.
Despite the disappointing results, several institutional investors have increased their holdings in WOR. These include Creative Planning, The Manufacturers Life Insurance Company, Dark Forest Capital Management LP, Squarepoint Ops LLC, and Public Sector Pension Investment Board.
However, the recent downward revisions in target price by prominent analysts highlight concerns about the company’s performance and potential for growth. Investors will be watching closely as Worthington Enterprises navigates these challenges and seeks to improve its financial performance.
First Piper 