Andersen Group (NYSE:ANDG) Sets New 52-Week High - Here's Why

Key Points

• Andersen Group shares reached a new 52-week high, trading as high as $67.26 and last changing hands at $66.30, up from the prior close of $65.55.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and Truist’s price target raised to $70. However, the average target of $56.14 is below the current share price.
• The company beat quarterly earnings expectations, reporting a loss of $0.09 per share versus the expected $0.16 loss, while several institutional investors recently increased or initiated positions.

Shares of Andersen Group Inc. (NYSE:ANDG - Get Free Report) reached a new 52-week high on Monday. The stock traded as high as $67.26 and last traded at $66.30, with a volume of 43,826 shares traded. The stock had previously closed at $65.55.

Wall Street Analysts Forecast Growth

ANDG has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $56.00 price objective on shares of Andersen Group in a report on Friday, August 14th. Robert W. Baird upped their price objective 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. Truist Financial lifted their target price on Andersen Group from $55.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, September 25th. Weiss Ratings upgraded shares of Andersen Group from a "sell (d-)" rating to a "sell (d+)" rating in a report on Thursday, September 24th. Finally, Morgan Stanley upped their price target on Andersen Group from $27.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $56.14.

Andersen Group Stock Down 0.9%

The stock's fifty day simple moving average is $56.72 and its 200-day simple moving average is $39.30. The stock has a market capitalization of $7.34 billion and a PE ratio of -122.66. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.82.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in shares of Andersen Group by 1.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 130,856 shares of the company's stock worth $3,559,000 after purchasing an additional 1,267 shares in the last quarter. Sei Investments Co. lifted its holdings in Andersen Group by 96.3% during the 1st quarter. Sei Investments Co. now owns 121,649 shares of the company's stock worth $3,309,000 after purchasing an additional 59,693 shares in the last quarter. Renaissance Technologies LLC bought a new position in Andersen Group in the 1st quarter worth about $1,686,000. Corient Private Wealth LP grew its stake in Andersen Group by 67.2% during the second quarter. Corient Private Wealth LP now owns 23,005 shares of the company's stock valued at $868,000 after acquiring an additional 9,245 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Andersen Group in the 2nd quarter worth approximately $592,000.

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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