Worthington Industries: A Hidden Gem with Strong Domestic Edge and Growth Potential

Canaccord Genuity analyst Brian McNamara upgraded the rating on Worthington Industries (WOR – Research Report) to a Buy yesterday, setting a price target of $67.00.

Brian McNamara has given his Buy rating due to a combination of factors that highlight Worthington Industries’ strong positioning in the current market environment. The company’s management team has demonstrated confidence in their predominantly domestic manufacturing capabilities, which provide a competitive edge in a tariff-heavy landscape. This strategic advantage is particularly evident in their gas grill cylinder production, where they are the sole domestic manufacturer, contrasting with competitors who rely on imports.
Furthermore, Worthington Industries has consistently reported strong financial performance, with five consecutive ‘clean’ quarters, reinforcing their stability and growth potential. The company’s recent separation from its Steel business has positioned it as a standalone entity with increased visibility and potential for outperformance. With a focus on optimizing their product offerings and leveraging domestic sourcing, McNamara sees Worthington as a hidden gem poised for success, justifying the upgrade to a Buy rating and a price target increase to $67.

McNamara covers the Consumer Cyclical sector, focusing on stocks such as Yeti Holdings, Solo Brands, and Traeger. According to TipRanks, McNamara has an average return of -7.2% and a 41.53% success rate on recommended stocks.