Andersen Group (NYSE:ANDG) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist Financial raised Andersen Group’s price target from $55 to $70 and maintained a “buy” rating, implying approximately 30.6% upside from the reported $53.59 share price.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and average price target of $56.14; individual targets range from $49 to $70.
• Andersen Group reported quarterly EPS of $(0.09), beating expectations of $(0.16), while revenue totaled $217.66 million. The stock has risen substantially over the past year, trading near its 52-week high of $57.62.

Andersen Group (NYSE:ANDG - Get Free Report) had its price objective hoisted by research analysts at Truist Financial from $55.00 to $70.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's price objective indicates a potential upside of 30.62% from the stock's current price.

Several other brokerages have also recently weighed in on ANDG. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $56.00 price target on shares of Andersen Group in a research note on Friday, August 14th. Morgan Stanley boosted their target price on shares of Andersen Group from $27.00 to $54.00 and gave the company an "equal weight" rating in a report on Thursday, August 13th. Weiss Ratings raised shares of Andersen Group from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, September 10th. Robert W. Baird increased their price target on shares of Andersen Group from $57.00 to $64.00 and gave the stock an "outperform" rating in a research note on Monday, August 31st. Finally, Wells Fargo & Company lifted their price target on shares of Andersen Group from $38.00 to $49.00 and gave the company an "equal weight" rating in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $56.14.

Andersen Group Price Performance

Shares of NYSE ANDG opened at $53.59 on Friday. Andersen Group has a 1 year low of $18.12 and a 1 year high of $57.62. The stock has a market capitalization of $6.06 billion and a P/E ratio of -101.39. The company's 50-day moving average is $50.63 and its 200 day moving average is $39.95. 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 announced its earnings results on Wednesday, August 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.07. The firm had revenue of $217.66 million during the quarter. On average, sell-side analysts expect that Andersen Group will post 0.73 earnings per share for the current year.

Insiders Place Their Bets

In other Andersen Group news, major shareholder Durable Capital Partners Lp sold 336,736 shares of Andersen Group stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total value of $13,472,807.36. Following the completion of the transaction, the insider directly owned 1,333,749 shares of the company's stock, valued at approximately $53,363,297.49. The trade was a 20.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.00% of the company's stock.

Hedge Funds Weigh In On Andersen Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ANDG. Brown Advisory Inc. purchased a new position in shares of Andersen Group in the fourth quarter worth $29,365,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Andersen Group by 1.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 130,856 shares of the company's stock valued at $3,559,000 after acquiring an additional 1,267 shares during the last quarter. Sei Investments Co. grew its stake in shares of Andersen Group by 96.3% in the first quarter. Sei Investments Co. now owns 121,649 shares of the company's stock worth $3,309,000 after acquiring an additional 59,693 shares during the period. Telemark Asset Management LLC purchased a new position in shares of Andersen Group during the fourth quarter valued at approximately $2,593,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Andersen Group during the first quarter valued at approximately $1,686,000.

Andersen Group Company Profile

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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