Andersen Group (NYSE:ANDG) Reaches New 1-Year High - Time to Buy?

Key Points

• New 52-week high: Andersen Group shares reached $36.71 (last $35.65) on volume of 239,645 shares, marking a new one-year high.
• Mixed analyst views but overall positive consensus: Ratings range from 2 Strong Buy / 2 Buy / 3 Hold / 1 Sell, with a MarketBeat consensus of "Moderate Buy" and a $33.33 target price.
• Earnings beat and outlook: The company reported quarterly EPS of ($0.13) versus ($0.28) expected and revenue of $170.35M versus $152.64M, with analysts forecasting FY EPS of 0.23.

Shares of Andersen Group Inc. (NYSE:ANDG - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $36.71 and last traded at $35.6540, with a volume of 239645 shares trading hands. The stock had previously closed at $35.96.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Truist Financial upgraded Andersen Group to a "strong-buy" rating in a report on Monday, January 12th. UBS Group raised their price objective on shares of Andersen Group from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Monday, April 13th. Weiss Ratings started coverage on shares of Andersen Group in a research note on Monday, April 6th. They issued a "sell (e)" rating on the stock. Robert W. Baird raised their price objective on shares of Andersen Group from $40.00 to $42.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 18th. Finally, Wells Fargo & Company upgraded shares of Andersen Group to a "hold" rating in a research note on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $33.33.

Andersen Group Stock Performance

The stock has a 50 day simple moving average of $26.85.

Andersen Group (NYSE:ANDG - Get Free Report) last issued its quarterly earnings data on Tuesday, March 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.28) by $0.15. The company had revenue of $170.35 million for the quarter, compared to the consensus estimate of $152.64 million. As a group, equities research analysts expect that Andersen Group Inc. will post 0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN bought a new position in shares of Andersen Group during the fourth quarter valued at $46,000. PNC Financial Services Group Inc. bought a new position in shares of Andersen Group during the fourth quarter valued at $215,000. Barclays PLC bought a new position in shares of Andersen Group in the fourth quarter valued at about $218,000. Voloridge Investment Management LLC bought a new position in shares of Andersen Group in the fourth quarter valued at about $259,000. Finally, XTX Topco Ltd bought a new position in shares of Andersen Group in the fourth quarter valued at about $269,000.

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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