Worthington Steel (NYSE:WS) Price Target Lowered to $34.00 at KeyCorp

Worthington Steel (NYSE:WS) had its price target cut by equities research analysts at KeyCorp from $41.00 to $34.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price target suggests a potential upside of 30.05% from the company’s current price.

Worthington Steel Trading Down 1.8 %

WS opened at $26.14 on Friday. The company has a market cap of $1.33 billion, a P/E ratio of 9.17 and a beta of 2.62. The business’s 50-day moving average price is $29.13 and its 200-day moving average price is $34.59. Worthington Steel has a 12 month low of $24.80 and a 12 month high of $47.19.

Worthington Steel (NYSE:WS) last released its quarterly earnings data on Wednesday, December 18th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.37). The company had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $740.40 million. Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 EPS. Equities research analysts forecast that Worthington Steel will post 2.26 earnings per share for the current fiscal year.

Institutional Trading of Worthington Steel

Large investors have recently modified their holdings of the business. Anchor Investment Management LLC bought a new stake in shares of Worthington Steel in the fourth quarter worth about $32,000. Tower Research Capital LLC TRC grew its stake in shares of Worthington Steel by 82.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the company’s stock worth $132,000 after purchasing an additional 1,883 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Worthington Steel in the third quarter worth about $213,000. Voleon Capital Management LP bought a new stake in shares of Worthington Steel in the fourth quarter worth about $213,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Worthington Steel in the fourth quarter worth about $220,000. 45.41% of the stock is owned by institutional investors.

About Worthington Steel

Worthington Steel, Inc operates as a steel processor in North America. It offers carbon flat-rolled steel and tailor welded blanks, as well as electrical steel laminations; and aluminum tailor welded blanks. The company serves various end-markets, including automotive, heavy truck, agriculture, construction, and energy.