Wells Fargo & Company Forecasts Strong Price Appreciation for Andersen Group (NYSE:ANDG) Stock

Andersen Group (NYSE:ANDG) had its target price lifted by equities researchers at Wells Fargo & Company from $49.00 to $61.00 in a report released on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 1.51% from the stock’s current price.

ANDG has been the topic of a number of other reports. Truist Financial boosted their price target on shares of Andersen Group from $55.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, September 25th. Weiss Ratings upgraded shares of Andersen Group from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, September 24th. Robert W. Baird lifted their price objective on Andersen Group from $64.00 to $71.00 and gave the company an “outperform” rating in a report on Friday. BMO Capital Markets initiated coverage on Andersen Group in a report on Tuesday, September 8th. They issued a “market perform” rating and a $58.00 price objective on the stock. Finally, Deutsche Bank reiterated a “buy” rating and set a $56.00 target price on shares of Andersen Group in a research report on Friday, August 14th. 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 given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.86.

Andersen Group Stock Performance

ANDG traded down $5.33 during trading on Friday, hitting $60.09. The stock had a trading volume of 1,027,719 shares, compared to its average volume of 496,933. The firm has a market capitalization of $6.79 billion and a P/E ratio of -72.40. The company has a debt-to-equity ratio of 7.82, a quick ratio of 2.19 and a current ratio of 2.19. Andersen Group has a twelve month low of $18.12 and a twelve month high of $68.41. The company’s 50-day moving average price is $58.93 and its 200 day moving average price is $41.25.

Andersen Group (NYSE:ANDG) last released its earnings results on Wednesday, August 12th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.07. The company had revenue of $217.66 million during the quarter. Andersen Group had a negative net margin of 1.22% and a negative return on equity of 5.49%. On average, equities research analysts forecast that Andersen Group will post 0.73 EPS for the current fiscal year.

Institutional Trading of Andersen Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Global Retirement Partners LLC grew its position in Andersen Group by 454.0% during the third quarter. Global Retirement Partners LLC now owns 554 shares of the company’s stock worth $30,000 after buying an additional 454 shares during the period. GAMMA Investing LLC increased its holdings in Andersen Group by 353.9% in the third quarter. GAMMA Investing LLC now owns 1,498 shares of the company’s stock valued at $81,000 after buying an additional 1,168 shares in the last quarter. Bridges Investment Management Inc. acquired a new stake in shares of Andersen Group during the 3rd quarter valued at approximately $221,000. Vise Technologies Inc. acquired a new stake in shares of Andersen Group during the 3rd quarter valued at approximately $528,000. Finally, Bank of America Corp DE boosted its stake in shares of Andersen Group by 512.0% during the 1st quarter. Bank of America Corp DE now owns 12,852 shares of the company’s stock worth $350,000 after acquiring an additional 10,752 shares in the last quarter.

More Andersen Group News

Investors following ANDG have been watching these news items:

• Positive Sentiment: Baird raised its price target to $71 from $64 and maintained an “outperform” rating, implying substantial upside from the cited share price. Baird raises Andersen price target
• Neutral Sentiment: Wells Fargo raised its target to $61 from $49 but kept an “equal weight” rating, indicating a more cautious view and limited upside at the referenced price. Wells Fargo analyst recommendations
• Neutral Sentiment: Overall, the earnings and outlook news are favorable, but the provided headlines do not explain why investors have been selling the stock or provide a clear near-term downside catalyst.

Andersen Group Company Profile

Andersen Group is a professional services firm providing tax, legal, valuation, financial advisory and consulting services to individuals, families and businesses. Its work includes tax planning and compliance, business and transaction advisory, and legal and valuation support. The firm traces its origins to WTAS, established in 2002 by former Arthur Andersen professionals. It later adopted the Andersen name and developed an international presence through the Andersen network of affiliated firms.