Andersen Group Inc. (NYSE:ANDG) Stock Has Average Target Price of $54.00

Shares of Andersen Group Inc. (NYSE:ANDG) have earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $56.14.

A number of brokerages have recently commented on ANDG. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $56.00 price target on shares of Andersen Group in a report on Friday, August 14th. Weiss Ratings upgraded Andersen Group from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday. Wells Fargo & Company raised their target price on Andersen Group from $38.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. BMO Capital Markets assumed coverage on Andersen Group in a report on Tuesday, September 8th. They set a “market perform” rating and a $58.00 target price on the stock. Finally, Robert W. Baird upped their price target on Andersen Group from $57.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, August 31st.

Insider Activity at Andersen Group

In related news, major shareholder Durable Capital Partners Lp sold 336,736 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total value of $13,472,807.36. Following the sale, the insider directly owned 1,333,749 shares in the company, valued at $53,363,297.49. This represents a 20.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 13.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Brown Advisory Inc. acquired a new position in Andersen Group in the fourth quarter valued at $29,365,000. Royce & Associates LP acquired a new stake in Andersen Group during the 4th quarter worth about $19,948,000. Seven Grand Managers LLC bought a new position in shares of Andersen Group in the 4th quarter worth about $12,965,000. Allspring Global Investments Holdings LLC raised its position in shares of Andersen Group by 1.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 130,856 shares of the company’s stock worth $3,559,000 after acquiring an additional 1,267 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Andersen Group by 96.3% in the 1st quarter. Sei Investments Co. now owns 121,649 shares of the company’s stock valued at $3,309,000 after purchasing an additional 59,693 shares during the period.

Andersen Group Stock Performance

NYSE:ANDG opened at $52.60 on Tuesday. The stock’s 50-day moving average is $51.00 and its 200-day moving average is $40.36. Andersen Group has a 1-year low of $18.12 and a 1-year high of $57.62. 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 cap of $5.94 billion and a P/E ratio of -99.24.

Andersen Group (NYSE:ANDG) last posted 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 business had revenue of $217.66 million for the quarter. Equities research analysts anticipate that Andersen Group will post 0.73 earnings per share for the current 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.