Andersen Group Inc. (NYSE:ANDG) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Andersen Group has a “Moderate Buy” consensus rating from ten analysts: four buys, one strong buy, four holds and one sell. The average 12-month price target is $54.00.
• ANDG shares opened at $54.93, near the analyst consensus target, after rising from a 52-week low of $18.12. The company reported quarterly EPS of a $0.09 loss, which beat the consensus estimate of a $0.16 loss, on revenue of $217.66 million.
• Major shareholder Durable Capital Partners sold 336,736 shares for approximately $13.5 million, reducing its stake by 20.16%; company insiders still own 13.0% of the stock.

Andersen Group Inc. (NYSE:ANDG - Get Free Report) has earned an average rating of "Moderate Buy" from the ten research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $54.00.

Several brokerages have issued reports on ANDG. Robert W. Baird increased their target price on shares of Andersen Group from $57.00 to $64.00 and gave the stock an "outperform" rating in a report on Monday, August 31st. Morgan Stanley lifted their price objective 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 Andersen Group from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, September 10th. Wells Fargo & Company lifted their price target on Andersen Group from $38.00 to $49.00 and gave the company an "equal weight" rating in a report on Thursday, August 13th. Finally, Truist Financial boosted their price target on Andersen Group from $42.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th.

Andersen Group Trading Down 0.1%

Shares of ANDG stock opened at $54.93 on Tuesday. The company has a market cap of $6.21 billion and a PE ratio of -103.64. Andersen Group has a 1 year low of $18.12 and a 1 year high of $57.62. The stock's 50 day simple moving average is $49.99 and its two-hundred day simple moving average is $39.34. 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 issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.07. The business had revenue of $217.66 million during the quarter. Research analysts predict that Andersen Group will post 0.73 earnings per share for the current year.

Insider Transactions at Andersen Group

In other Andersen Group news, major shareholder Durable Capital Partners Lp sold 336,736 shares of the business's 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 in the company, 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 document filed with the SEC, which can be accessed through the SEC website. 13.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Andersen Group

Several institutional investors and hedge funds have recently bought and sold shares of ANDG. PNC Financial Services Group Inc. purchased a new stake in shares of Andersen Group during the 4th quarter valued at $215,000. Bank of America Corp DE grew its stake in Andersen Group by 512.0% during the 1st quarter. Bank of America Corp DE now owns 12,852 shares of the company's stock worth $350,000 after buying an additional 10,752 shares during the last quarter. Corient Private Wealth LLC purchased a new position in Andersen Group during the 4th quarter worth $357,000. Bank of New York Mellon Corp increased its position in Andersen Group by 47.0% during the 1st quarter. Bank of New York Mellon Corp now owns 18,636 shares of the company's stock valued at $507,000 after buying an additional 5,962 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Andersen Group in the second quarter valued at about $592,000.

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.

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.