Andersen Group (NYSE:ANDG) Reaches New 12-Month High - Still a Buy?

Key Points

• Andersen Group shares reached a new 52-week high of $58.21 and were last trading near $58.11, valuing the company at approximately $6.58 billion.
• Analysts have a consensus “Moderate Buy” rating with an average price target of $56.14, though individual targets range from $49 to $70.
• The company exceeded quarterly earnings expectations, reporting a loss of $0.09 per share versus the estimated loss of $0.16, while revenue totaled $217.66 million; however, its price-to-earnings ratio remains negative and debt-to-equity is high at 7.82.

Andersen Group Inc. (NYSE:ANDG - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as $58.21 and last traded at $58.1120, with a volume of 6,767 shares changing hands. The stock had previously closed at $57.66.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ANDG shares. Wells Fargo & Company upped their price objective on Andersen Group from $38.00 to $49.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 13th. Morgan Stanley lifted their target price 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. BMO Capital Markets assumed coverage on shares of Andersen Group in a research note on Tuesday, September 8th. They issued a "market perform" rating and a $58.00 target price for the company. Robert W. Baird boosted their target price on shares of Andersen Group from $57.00 to $64.00 and gave the company an "outperform" rating in a research note on Monday, August 31st. Finally, Truist Financial increased their price target on shares of Andersen Group from $55.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $56.14.

Andersen Group Stock Performance

The company has a market capitalization of $6.58 billion and a price-to-earnings ratio of -109.91. The firm has a fifty day simple moving average of $53.27 and a 200 day simple moving average of $42.52. 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 announced its 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 for the quarter. On average, analysts anticipate that Andersen Group Inc. will post 0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Andersen Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brown Advisory Inc. acquired a new position in Andersen Group during the fourth quarter worth $29,365,000. Renaissance Technologies LLC acquired a new stake in shares of Andersen Group in the first quarter valued at about $1,686,000. Sei Investments Co. grew its position in shares of Andersen Group by 96.3% in the first quarter. Sei Investments Co. now owns 121,649 shares of the company's stock valued at $3,309,000 after purchasing an additional 59,693 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Andersen Group during the second quarter worth about $592,000. Finally, Corient Private Wealth LLC purchased a new stake in shares of Andersen Group during the fourth quarter worth about $357,000.

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.

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