Market Overview

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

Related WOR
Benzinga's Top Upgrades, Downgrades For March 14, 2017
Mid-Day Market Update: Micron Climbs On Earnings Beat; OvaScience Shares Slide

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

Mar 2017MacquarieUpgradesUnderperformNeutral
Dec 2016JefferiesDowngradesHoldUnderperform
Nov 2016MacquarieDowngradesNeutralUnderperform

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!