Andersen Group (NYSE:ANDG) Given New $38.00 Price Target at Wells Fargo & Company

Andersen Group (NYSE:ANDG) had its target price hoisted by Wells Fargo & Company from $25.00 to $38.00 in a research note issued to investors on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other research firms have also recently weighed in on ANDG. Weiss Ratings started coverage on Andersen Group in a research note on Monday, April 6th. They issued a “sell (e)” rating on the stock. Morgan Stanley raised their price target on Andersen Group from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 18th. UBS Group raised their price target on Andersen Group from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Robert W. Baird raised their price target on Andersen Group from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Zacks Research upgraded Andersen Group to a “hold” rating in a research note on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $37.67.

Andersen Group Stock Down 2.7%

NYSE:ANDG opened at $35.41 on Wednesday. The company has a fifty day moving average of $29.79. Andersen Group has a 12-month low of $18.12 and a 12-month high of $39.54.

Andersen Group (NYSE:ANDG) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.03 earnings per share 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% on a year-over-year basis. Equities research analysts predict that Andersen Group will post 0.23 earnings per share for the current year.

Institutional Trading of Andersen Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN acquired a new stake in shares of Andersen Group during the fourth quarter worth about $46,000. PNC Financial Services Group Inc. acquired a new stake in shares of Andersen Group during the fourth quarter worth about $215,000. Barclays PLC acquired a new stake in shares of Andersen Group during the fourth quarter worth about $218,000. Voloridge Investment Management LLC acquired a new stake in shares of Andersen Group during the fourth quarter worth about $259,000. Finally, XTX Topco Ltd acquired a new stake in shares of Andersen Group during the fourth quarter worth about $269,000.

Key Stories Impacting Andersen Group

Here are the key news stories impacting Andersen Group this week:

• Positive Sentiment: Truist raised its price target on Andersen Group to $42 from $32 and kept a buy rating, signaling confidence in further upside. Truist price target raised to $42
• Positive Sentiment: Robert W. Baird increased its target to $44 from $42 and maintained an outperform rating, reinforcing a bullish long-term outlook. Robert W. Baird price target raised to $44
• Positive Sentiment: Wells Fargo lifted its price target to $38 from $25, suggesting analysts see room for recovery even though the firm kept an equal weight rating. Wells Fargo price target raised to $38
• Neutral Sentiment: Andersen’s first-quarter results showed revenue of $240.75 million, up 15.7% year over year, but EPS came in at $0.03 versus the $0.11 consensus estimate, which likely capped enthusiasm. Q1 earnings results
• Negative Sentiment: The company also updated second-quarter guidance with revenue expected between $190 million and $205 million, roughly around Wall Street’s expectations, leaving investors focused on margin and earnings execution. Q2 guidance update

About Andersen Group

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.