Andersen Group (NYSE:ANDG) Price Target Raised to $64.00

Key Points

• Robert W. Baird raised Andersen Group’s price target from $57 to $64 and maintained an “outperform” rating, implying 14.35% potential upside. Analysts overall have a “Moderate Buy” consensus and an average target of $53.33.
• Andersen Group reported quarterly EPS of -$0.09, beating the consensus estimate of -$0.16, on revenue of $217.66 million. Analysts expect full-year EPS of $0.73.
• The stock opened at $55.97, near its 52-week high of $57.13, after rising above its 50-day and 200-day moving averages; however, a major shareholder sold 336,736 shares, reducing its position by 20.16%.

Andersen Group (NYSE:ANDG - Get Free Report) had its price objective increased by research analysts at Robert W. Baird from $57.00 to $64.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Robert W. Baird's target price suggests a potential upside of 14.35% from the company's current price.

Other equities analysts have also issued reports about the stock. Truist Financial boosted their price target on shares of Andersen Group from $42.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Morgan Stanley raised their price objective on shares of Andersen Group from $27.00 to $54.00 and gave the stock an "equal weight" rating in a report on Thursday, August 13th. UBS Group lifted their target price on shares of Andersen Group from $34.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $56.00 target price on shares of Andersen Group in a report on Friday, August 14th. Finally, Wells Fargo & Company increased their price target on Andersen Group from $38.00 to $49.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $53.33.

Andersen Group Stock Performance

Andersen Group stock opened at $55.97 on Monday. The firm has a market capitalization of $6.32 billion and a P/E ratio of -105.60. The stock has a fifty day moving average price of $44.59 and a two-hundred day moving average price of $35.54. Andersen Group has a 52-week low of $18.12 and a 52-week high of $57.13. The company has a debt-to-equity ratio of 7.82, a current ratio of 2.19 and a quick ratio of 2.19.

Andersen Group (NYSE:ANDG - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.07. The firm had revenue of $217.66 million during the quarter. As a group, analysts anticipate that Andersen Group will post 0.73 EPS for the current fiscal year.

Insider Transactions at Andersen Group

In other Andersen Group news, major shareholder Durable Capital Partners Lp sold 336,736 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total transaction of $13,472,807.36. Following the sale, the insider owned 1,333,749 shares of the company's stock, valued at $53,363,297.49. This represents a 20.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Andersen Group

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. acquired a new stake in shares of Andersen Group in the fourth quarter valued at approximately $45,987,000. J. Goldman & Co LP acquired a new position in Andersen Group during the 4th quarter worth $30,079,000. Brown Advisory Inc. bought a new position in Andersen Group in the 4th quarter valued at $29,365,000. Franklin Resources Inc. bought a new position in Andersen Group in the 4th quarter valued at $25,864,000. Finally, Royce & Associates LP acquired a new stake in shares of Andersen Group in the 4th quarter valued at $19,948,000.

About Andersen Group

Our mission is to deliver exceptional client service grounded in integrity, transparency, and excellence. Since our founding in 2002, we have experienced rapid and sustained growth, powered by our people, our values and our relentless commitment to innovative, client-focused solutions. Building on the rich traditions and culture of the former Arthur Andersen, we are driven by a bold vision to lead in a complex global marketplace, creating lasting value for our clients, our people and our investors.

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