Andersen Group (NYSE:ANDG) Reaches New 1-Year High on Analyst Upgrade

Andersen Group Inc. (NYSE:ANDG)’s stock price reached a new 52-week high during mid-day trading on Monday after Robert W. Baird raised their price target on the stock from $57.00 to $64.00. Robert W. Baird currently has an outperform rating on the stock. Andersen Group traded as high as $57.13 and last traded at $56.0050, with a volume of 310779 shares traded. The stock had previously closed at $55.72.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company lifted their target price on shares of Andersen Group from $38.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Andersen Group in a research report on Thursday. Morgan Stanley boosted their price objective on Andersen Group from $27.00 to $54.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Truist Financial lifted their price objective on shares of Andersen Group from $42.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $56.00 price target on shares of Andersen Group in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Andersen Group currently has an average rating of “Moderate Buy” and a consensus target price of $53.33.

Insider Buying and Selling

In related news, major shareholder Durable Capital Partners Lp sold 336,736 shares of Andersen Group stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total transaction of $13,472,807.36. Following the completion of the transaction, the insider directly owned 1,333,749 shares in the company, valued at approximately $53,363,297.49. This trade represents a 20.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 13.00% of the company’s stock.

Hedge Funds Weigh In On Andersen Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. acquired a new position in shares of Andersen Group in the 4th quarter valued at $45,987,000. J. Goldman & Co LP acquired a new stake in shares of Andersen Group during the fourth quarter valued at about $30,079,000. Brown Advisory Inc. purchased a new stake in shares of Andersen Group in the 4th quarter valued at approximately $29,365,000. Franklin Resources Inc. purchased a new stake in shares of Andersen Group in the 4th quarter valued at approximately $25,864,000. Finally, Royce & Associates LP acquired a new position in shares of Andersen Group in the 4th quarter worth approximately $19,948,000.

Andersen Group Stock Performance

The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.82. The stock has a market capitalization of $6.31 billion and a price-to-earnings ratio of -105.67. The firm’s fifty day moving average price is $44.59 and its 200 day moving average price is $35.54.

Andersen Group (NYSE:ANDG) last posted its earnings results 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 company had revenue of $217.66 million during the quarter. Analysts forecast that Andersen Group Inc. will post 0.73 EPS for the current fiscal year.

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.