Market Overview

UPDATE: Topeka Capital Markets Reiterates Hold Rating, Raises PT on Worthington Industries

Share:
Related WOR
Jim Cramer Shares His Thoughts On Salesforce, Advanced Micro Devices And Worthington Industries
Keep an Eye on These 7 Stocks for September 28, 2016
New Buys Of Top Mutual Funds: Burlington Stores, Drew Industries (Investor's Business Daily)

In a report published Friday, Topeka Capital Markets reiterated its Hold rating on Worthington Industries (NYSE: WOR), and raised its price target from $23.00 to $25.00.

Topeka Capital noted, “Worthington Industries (WOR) reported F2Q13 EPS results of $0.45 versus our estimate of $0.40 and consensus of $0.41 (range: $0.35 - $0.45). Revenue results declined 6.5% sequentially, but increased 10.1% YoY, which was slightly below both our and the consensus estimate. However, a higher than anticipated gross margin and equity income more than offset this relative to our estimates. Consequently, we are modestly increasing our 2013 estimates. Furthermore, given the encouraging gross margin performance we are applying a slightly higher multiple and increasing our price target to $25 from $23. While recent share price performance has been strong, we continue to prefer a more opportunistic entry point and consequently are maintaining our Hold rating.”

Worthington Industries closed on Thursday at $26.81.

Latest Ratings for WOR

DateFirmActionFromTo
Nov 2016MacquarieDowngradesNeutralUnderperform
Sep 2016MacquarieMaintainsNeutral
Sep 2016JefferiesMaintainsHold

View More Analyst Ratings for WOR
View the Latest Analyst Ratings

Posted-In: Topeka Capital MarketsAnalyst Color Price Target Analyst Ratings

 

Related Articles (WOR)

View Comments and Join the Discussion!