Andersen Group (NYSE:ANDG) Reaches New 12-Month High - What's Next?

Key Points

• Shares of Andersen Group (NYSE:ANDG) reached a new 52-week high, trading as high as $34.75 and last at $33.43 on volume of 338,266 shares.
• The company beat expectations in its latest quarter, reporting EPS of ($0.13) versus a ($0.28) estimate and revenue of $170.35 million versus $152.64 million expected.
• Analyst sentiment is mixed but the consensus is a Moderate Buy with a $33.33 target (2 Strong Buy, 2 Buy, 3 Hold, 1 Sell); recent moves include Morgan Stanley raising its target and upgrades from Truist and William Blair while Weiss initiated coverage with a Sell.

Andersen Group Inc. (NYSE:ANDG - Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as $34.75 and last traded at $33.43, with a volume of 338266 shares traded. The stock had previously closed at $33.52.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Morgan Stanley boosted their price objective on Andersen Group from $22.00 to $24.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 18th. Truist Financial upgraded Andersen Group to a "strong-buy" rating in a research report on Monday, January 12th. Wells Fargo & Company upgraded Andersen Group to a "hold" rating in a research report on Monday, January 12th. Weiss Ratings assumed coverage on Andersen Group in a research report on Monday, April 6th. They issued a "sell (e)" rating on the stock. Finally, William Blair upgraded shares of Andersen Group to a "strong-buy" rating in a research report on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Andersen Group has an average rating of "Moderate Buy" and a consensus target price of $33.33.

Andersen Group Price Performance

The stock has a 50 day moving average of $25.33.

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, topping analysts' consensus estimates of ($0.28) by $0.15. The firm had revenue of $170.35 million during the quarter, compared to analysts' expectations of $152.64 million.

Institutional Trading of Andersen Group

A number of hedge funds have recently added to or reduced their stakes in ANDG. Teacher Retirement System of Texas purchased a new stake in Andersen Group during the fourth quarter worth $4,278,000. PNC Financial Services Group Inc. purchased a new position in Andersen Group in the 4th quarter valued at about $215,000. Royce & Associates LP purchased a new position in Andersen Group in the 4th quarter valued at about $19,948,000. Seven Grand Managers LLC purchased a new position in Andersen Group in the 4th quarter valued at about $12,965,000. Finally, Goldman Sachs Group Inc. purchased a new position in Andersen Group in the 4th quarter valued at about $10,420,000.

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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