Andersen Group (NYSE:ANDG) Hits New 52-Week High – Time to Buy?

Andersen Group Inc. (NYSE:ANDG)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $50.76 and last traded at $50.48, with a volume of 312760 shares trading hands. The stock had previously closed at $48.47.

Analysts Set New Price Targets

Several brokerages have commented on ANDG. Robert W. Baird upped their target price on shares of Andersen Group from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Wells Fargo & Company raised their price target on Andersen Group from $25.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 13th. UBS Group upped their price objective on Andersen Group from $34.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Morgan Stanley increased their target price on Andersen Group from $24.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $41.00 target price on shares of Andersen Group in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Andersen Group Trading Up 3.6%

The stock has a market cap of $5.67 billion and a price-to-earnings ratio of 295.47. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 9.72. The business’s 50 day simple moving average is $41.20 and its 200 day simple moving average is $32.95.

Andersen Group (NYSE:ANDG) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The business had revenue of $240.75 million during the quarter. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. On average, research analysts expect that Andersen Group Inc. will post 0.73 EPS for the current fiscal year.

Insider Transactions at Andersen Group

In other Andersen Group news, major shareholder Durable Capital Partners Lp sold 336,736 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total value of $13,472,807.36. Following the sale, the insider owned 1,333,749 shares in the company, valued at $53,363,297.49. This trade represents a 20.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert V. Gunderson, Jr. purchased 2,367 shares of Andersen Group stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average price of $35.82 per share, for a total transaction of $84,785.94. Following the completion of the acquisition, the director owned 15,000 shares of the company’s stock, valued at approximately $537,300. The trade was a 18.74% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 13.00% of the company’s stock.

Institutional Investors Weigh In On Andersen Group

Several large investors have recently added to or reduced their stakes in ANDG. Allspring Global Investments Holdings LLC lifted its position in shares of Andersen Group by 1.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 130,856 shares of the company’s stock valued at $3,559,000 after acquiring an additional 1,267 shares during the period. Wells Fargo & Company MN acquired a new position in shares of Andersen Group during the fourth quarter valued at about $46,000. Bank of New York Mellon Corp boosted its position in shares of Andersen Group by 47.0% during the 1st quarter. Bank of New York Mellon Corp now owns 18,636 shares of the company’s stock worth $507,000 after purchasing an additional 5,962 shares in the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of Andersen Group in the 4th quarter valued at about $215,000. Finally, Barclays PLC acquired a new stake in shares of Andersen Group in the 4th quarter valued at about $218,000.

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.