The Andersons Inc. (ANDE) Stock Rating Lowered by Zacks Investment Research
The Andersons Inc. (NASDAQ:ANDE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “Andersons’ third-quarter 2016 earnings reversed its prior-year quarter’s loss but fell short of the Zacks Consensus Estimate by a wide margin of 74%. Its outlook remains strong on wheat, corn and soybean crops trending favorable. The rebound in grain production in the Eastern Corn Belt has helped position the Grains business for improved earnings in the fourth quarter and into 2017. Strength in margins return for the ethanol business will also drive the company's growth. The company is also positioned to deliver over $10 million in run rate cost reductions by the end of 2017. However, oversupply and falling prices continue to hurt Plant Nutrient volumes and margins. In addition, the Rail Group will be affected by weak rail car demand in the near-term, as North American traffic continues to be down and the low GDP-growth environment affects overall traffic volumes and rail car demand.”
Separately, Buckingham Research raised The Andersons from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $42.00 in a research note on Monday, September 26th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The Andersons currently has a consensus rating of “Buy” and an average target price of $42.67.
Shares of The Andersons (NASDAQ:ANDE) opened at 35.25 on Friday. The company has a 50 day moving average of $36.72 and a 200-day moving average of $35.35. The firm’s market capitalization is $994.83 million. The Andersons has a 12 month low of $23.25 and a 12 month high of $39.45.
The Andersons (NASDAQ:ANDE) last issued its earnings results on Monday, November 7th. The company reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.12. The business had revenue of $859.60 million for the quarter, compared to analyst estimates of $966.51 million. The Andersons had a positive return on equity of 0.83% and a negative net margin of 1.14%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) EPS. Analysts predict that The Andersons will post $0.66 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 24th. Stockholders of record on Monday, October 3rd were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Thursday, September 29th. The Andersons’s dividend payout ratio (DPR) is currently -38.04%.
Several hedge funds have recently added to or reduced their stakes in ANDE. Prudential Financial Inc. boosted its stake in The Andersons by 21.0% in the first quarter. Prudential Financial Inc. now owns 74,177 shares of the company’s stock valued at $2,330,000 after buying an additional 12,852 shares during the period. BlackRock Group LTD boosted its stake in The Andersons by 7.4% in the first quarter. BlackRock Group LTD now owns 35,295 shares of the company’s stock valued at $1,109,000 after buying an additional 2,440 shares during the period. BlackRock Fund Advisors boosted its stake in The Andersons by 1.3% in the first quarter. BlackRock Fund Advisors now owns 1,690,140 shares of the company’s stock valued at $53,087,000 after buying an additional 21,382 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in The Andersons by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 674,713 shares of the company’s stock valued at $21,193,000 after buying an additional 9,676 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in The Andersons by 25.1% in the first quarter. Renaissance Technologies LLC now owns 500,376 shares of the company’s stock valued at $15,717,000 after buying an additional 100,476 shares during the period. Institutional investors own 72.73% of the company’s stock.
About The Andersons
The Andersons, Inc is a diversified company. The Company conducts business across North America in the grain, ethanol, plant nutrient and rail sectors. The Company also produces turf and cob products, and has a consumer retailing presence. The Company operates through five segments: Grain, Ethanol, Rail, Plant Nutrient and Retail.
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