Worthington Industries (NYSE:WOR) – This is the largest U.S. processor of close-tolerance steel and a manufacturer of metal framing, pressure cylinders, automotive stampings, metal ceiling grid systems and laser-welded blanks.
Analysts look for a continued upturn in durable goods demand and increased sales of pressure cylinders. S&P rates WOR a “four-star buy” with a target of $23 based on earnings of $1.53 in 2011 versus 57 cents in 2010, and an increase to $1.64 in 2012 and a like increase in 2013.
Technically WOR is attacking the resistance at $18.80 to $19.40 with a pending golden cross — a pattern that favors a breakout. The initial target is the resistance zone at $20 to $22, but a breakthrough of that zone could result in a major move with a longer-term target of $30.
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