Andersen Group (NYSE:ANDG) Stock Price Up 5.6% - Still a Buy?

Key Points

• Shares of Andersen Group jumped 5.6% to $35.78 on Tuesday, though volume was light at about 108,355 shares (roughly a 67% decline from the 328,351 average).
• The company beat expectations for the quarter, reporting EPS of ($0.13) vs. ($0.28) expected and revenue of $170.35M vs. $152.64M consensus.
• Analyst sentiment is broadly positive: MarketBeat shows a consensus rating of Moderate Buy with a $33.33 average price target, and several firms recently raised their targets (e.g., Baird to $42, UBS to $34).

Andersen Group Inc. (NYSE:ANDG - Get Free Report) shares rose 5.6% on Tuesday . The company traded as high as $35.88 and last traded at $35.7750. Approximately 108,355 shares changed hands during trading, a decline of 67% from the average daily volume of 328,351 shares. The stock had previously closed at $33.87.

Analyst Upgrades and Downgrades

ANDG has been the subject of a number of research analyst reports. Robert W. Baird lifted their price objective on shares of Andersen Group from $40.00 to $42.00 and gave the company an "outperform" rating in a report on Wednesday, March 18th. UBS Group lifted their price objective on shares of Andersen Group from $32.00 to $34.00 and gave the company a "buy" rating in a report on Monday, April 13th. Zacks Research upgraded shares of Andersen Group to a "hold" rating in a report on Tuesday, January 13th. Morgan Stanley lifted their price objective on shares of Andersen Group from $22.00 to $24.00 and gave the company an "equal weight" rating in a report on Wednesday, March 18th. Finally, William Blair upgraded shares of Andersen Group to a "strong-buy" rating in a report on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $33.33.

Andersen Group Stock Performance

The firm's fifty day moving average price is $27.11.

Andersen Group (NYSE:ANDG - Get Free Report) last posted its quarterly earnings results on Tuesday, March 17th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.15. The business had revenue of $170.35 million during the quarter, compared to the consensus estimate of $152.64 million. Equities analysts forecast that Andersen Group Inc. will post 0.23 earnings per share for the current year.

Institutional Investors Weigh In On Andersen Group

Several large investors have recently modified their holdings of the business. Wells Fargo & Company MN bought a new stake in shares of Andersen Group in the 4th quarter valued at about $46,000. PNC Financial Services Group Inc. bought a new stake in shares of Andersen Group in the 4th quarter valued at about $215,000. Barclays PLC bought a new stake in shares of Andersen Group in the 4th quarter valued at about $218,000. Voloridge Investment Management LLC bought a new position in shares of Andersen Group during the 4th quarter worth approximately $259,000. Finally, XTX Topco Ltd bought a new position in shares of Andersen Group during the 4th quarter worth approximately $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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.