Andersen Group (NYSE:ANDG) Reaches New 1-Year High - Here's Why

Key Points

• Andersen Group shares reached a new 52-week high, trading as high as $60.21 and last changing hands at $59.575, up from the previous close of $58.27.
• Analysts have raised their price targets, including Truist’s increase to $70 and Robert W. Baird’s to $64. The stock carries a consensus “Moderate Buy” rating with an average target of $56.14.
• The company beat quarterly earnings expectations, reporting a loss of $0.09 per share versus the expected loss of $0.16, while revenue totaled $217.66 million. Several institutional investors also increased or initiated positions in the stock.

Andersen Group Inc. (NYSE:ANDG - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday. The company traded as high as $60.21 and last traded at $59.5750, with a volume of 78,329 shares changing hands. The stock had previously closed at $58.27.

Analysts Set New Price Targets

ANDG has been the subject of several recent research reports. Truist Financial upped their price target 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. Wells Fargo & Company boosted their target price on shares of Andersen Group from $38.00 to $49.00 and gave the company an "equal weight" rating in a research note on Thursday, August 13th. Morgan Stanley upped their target price on shares of Andersen Group from $27.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 13th. Weiss Ratings upgraded shares of Andersen Group from a "sell (d-)" rating to a "sell (d+)" rating in a research note on Thursday, September 24th. Finally, Robert W. Baird lifted their price target on Andersen Group from $57.00 to $64.00 and gave the company an "outperform" rating in a report on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Andersen Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.14.

Andersen Group Stock Performance

The stock has a market cap of $6.73 billion and a P/E ratio of -112.20. The company has a debt-to-equity ratio of 7.82, a current ratio of 2.19 and a quick ratio of 2.19. The company has a fifty day moving average of $53.97 and a 200 day moving average of $43.42.

Andersen Group (NYSE:ANDG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.07. The business had revenue of $217.66 million for the quarter. On average, equities analysts predict that Andersen Group Inc. will post 0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Andersen Group by 353.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,498 shares of the company's stock valued at $81,000 after purchasing an additional 1,168 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Andersen Group by 512.0% in 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 bought a new stake in Andersen Group during the fourth quarter worth approximately $357,000. Bank of New York Mellon Corp grew its holdings in 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 valued at $507,000 after purchasing an additional 5,962 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Andersen Group in the second quarter worth $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.

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