Andersen Group (NYSE:ANDG) Hits New 1-Year High - Here's What Happened

Key Points

• Andersen Group shares reached a new 52-week high, rising 5.3% to an intraday peak of $57.76 and a latest price of $57.39, giving the company a market capitalization of approximately $6.47 billion.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $56.14; targets range from $49 to $70.
• Andersen Group’s latest quarterly results beat expectations, reporting a loss of $0.09 per share versus the $0.16 expected, on revenue of $217.66 million. Analysts forecast full-year EPS of $0.73.

Shares of Andersen Group Inc. (NYSE:ANDG - Get Free Report) hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as $57.76 and last traded at $57.39, with a volume of 271478 shares changing hands. The stock had previously closed at $54.40.

Wall Street Analysts Forecast Growth

ANDG has been the topic of several analyst reports. BMO Capital Markets initiated coverage on shares of Andersen Group in a report on Tuesday, September 8th. They issued a "market perform" rating and a $58.00 target price on the stock. Wells Fargo & Company increased their target price on Andersen Group from $38.00 to $49.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 13th. Truist Financial boosted their target price on shares of Andersen Group from $55.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, September 25th. Robert W. Baird increased their target price on shares of Andersen Group from $57.00 to $64.00 and gave the company an "outperform" rating in a report on Monday, August 31st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $56.00 price objective on shares of Andersen Group in a report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Andersen Group has a consensus rating of "Moderate Buy" and a consensus price target of $56.14.

Andersen Group Trading Up 5.3%

The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 7.82. The firm has a market capitalization of $6.47 billion and a PE ratio of -107.72. The business's fifty day moving average price is $51.52 and its 200 day moving average price is $40.80.

Andersen Group (NYSE:ANDG - Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.07. The firm had revenue of $217.66 million during the quarter. As a group, analysts expect that Andersen Group Inc. will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling at Andersen Group

In related news, major shareholder Durable Capital Partners Lp sold 336,736 shares of the business's stock in a transaction that occurred on 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.00% of the stock is currently owned by insiders.

Institutional Trading of Andersen Group

A number of institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. purchased a new stake in Andersen Group during the fourth quarter worth approximately $215,000. Bank of America Corp DE lifted its holdings in shares of Andersen Group by 512.0% during the 1st quarter. Bank of America Corp DE now owns 12,852 shares of the company's stock valued at $350,000 after acquiring an additional 10,752 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in Andersen Group during the 4th quarter worth $357,000. Squarepoint Ops LLC acquired a new stake in Andersen Group in the 2nd quarter valued at $592,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Andersen Group by 47.0% during the first quarter. Bank of New York Mellon Corp now owns 18,636 shares of the company's stock worth $507,000 after purchasing an additional 5,962 shares in the last quarter.

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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