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

Key Points

• UBS Group raised its price target on Andersen to $34 (from $32) and kept a buy rating, implying roughly a 16.4% upside from the current share price.
• Andersen beat quarterly expectations, reporting EPS of ($0.13) versus ($0.28) expected and revenue of $170.35 million versus $152.64 million expected.
• The stock is trading near $29.21 and carries a consensus rating of Moderate Buy with a consensus target price of $33.33.

Andersen Group (NYSE:ANDG - Get Free Report) had its price target boosted by analysts at UBS Group from $32.00 to $34.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's target price would indicate a potential upside of 16.41% from the stock's current price.

Other analysts have also issued research reports about the company. Zacks Research raised Andersen Group to a "hold" rating in a research note on Tuesday, January 13th. Morgan Stanley increased their price objective on Andersen Group from $22.00 to $24.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 18th. Truist Financial raised Andersen Group to a "strong-buy" rating in a research note on Monday, January 12th. Weiss Ratings began coverage on Andersen Group in a research note on Monday, April 6th. They set a "sell (e)" rating for the company. Finally, Wells Fargo & Company raised 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 assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.33.

Andersen Group Price Performance

ANDG traded up $0.96 during midday trading on Monday, hitting $29.21. The stock had a trading volume of 225,090 shares, compared to its average volume of 338,846. The company's fifty day moving average is $24.25. Andersen Group has a 1 year low of $18.12 and a 1 year high of $30.27.

Andersen Group (NYSE:ANDG - Get Free Report) last issued its earnings results on Tuesday, March 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate 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.

Hedge Funds Weigh In On Andersen Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in ANDG. Wells Fargo & Company MN purchased a new position in Andersen Group during the fourth quarter valued at $46,000. PNC Financial Services Group Inc. purchased a new position in Andersen Group during the fourth quarter valued at $215,000. Barclays PLC purchased a new position in Andersen Group during the fourth quarter valued at $218,000. Voloridge Investment Management LLC purchased a new position in Andersen Group during the fourth quarter valued at $259,000. Finally, XTX Topco Ltd purchased a new position in Andersen Group during the fourth quarter valued at $269,000.

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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