Andersons (ANDE) Downgraded to Hold at Zacks Investment Research
Andersons (NASDAQ:ANDE) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Andersons has recently agreed to acquire the balance stake of 67.5% in Lansing Trade Group for approximately $305 million. The buyout will strengthen and broaden its grain business, extend specialty food and feed product offerings and further diversify its portfolio. The company will also benefit from reduction in tax rate and cost-saving efforts. Further, optimism in U.S. corn and soybean crop conditions will drive growth. Moreover, the stock has outperformed the industry over the past year. However, Andersons' Plant Nutrient Group will remain under pressure due to unfavorable margin conditions. Continued trade disruptions and deteriorating prospects for non-U.S. crop also remain headwinds. “
ANDE has been the subject of several other research reports. ValuEngine raised shares of Andersons from a “hold” rating to a “buy” rating in a report on Monday, October 8th. BidaskClub raised shares of Andersons from a “hold” rating to a “buy” rating in a report on Monday, June 18th. TheStreet raised shares of Andersons from a “c” rating to a “b” rating in a report on Friday, August 10th. Buckingham Research boosted their price objective on shares of Andersons from $35.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, August 9th. Finally, BMO Capital Markets boosted their price objective on shares of Andersons from $36.00 to $40.00 and gave the company a “market perform” rating in a report on Thursday, August 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Andersons presently has an average rating of “Hold” and an average target price of $41.33.
Andersons (NASDAQ:ANDE) last announced its earnings results on Tuesday, August 7th. The basic materials company reported $0.76 EPS for the quarter. The business had revenue of $911.40 million during the quarter. Andersons had a net margin of 2.68% and a return on equity of 4.92%. Sell-side analysts forecast that Andersons will post 1.88 EPS for the current year.
In other Andersons news, insider Corbett J. Jorgenson sold 1,300 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $37.90, for a total value of $49,270.00. Following the completion of the sale, the insider now owns 18,399 shares of the company’s stock, valued at approximately $697,322.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ANDE. Wells Fargo & Company MN boosted its holdings in Andersons by 4.5% in the 1st quarter. Wells Fargo & Company MN now owns 43,083 shares of the basic materials company’s stock valued at $1,426,000 after purchasing an additional 1,856 shares during the period. BlackRock Inc. boosted its holdings in Andersons by 1.0% in the 1st quarter. BlackRock Inc. now owns 3,453,455 shares of the basic materials company’s stock valued at $114,310,000 after purchasing an additional 34,048 shares during the period. Citigroup Inc. boosted its holdings in Andersons by 73.0% in the 1st quarter. Citigroup Inc. now owns 13,592 shares of the basic materials company’s stock valued at $450,000 after purchasing an additional 5,737 shares during the period. Stifel Financial Corp acquired a new position in shares of Andersons in the 1st quarter valued at approximately $1,064,000. Finally, Citadel Advisors LLC acquired a new position in shares of Andersons in the 1st quarter valued at approximately $341,000. 80.41% of the stock is owned by hedge funds and other institutional investors.
The Andersons, Inc, an agriculture company, operates in the grain, ethanol, plant nutrient, and rail sectors in the United States and internationally. The company's Grain segment operates grain elevators; stores grains; and provides grain marketing, risk management, and corn origination services to its customers and affiliated ethanol facilities.
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