Andersen Group (NYSE:ANDG) Reaches New 52-Week High – What’s Next?

Andersen Group Inc. (NYSE:ANDG)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $41.43 and last traded at $40.6950, with a volume of 685149 shares traded. The stock had previously closed at $37.91.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ANDG. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $41.00 target price on shares of Andersen Group in a research report on Wednesday, May 13th. Wells Fargo & Company lifted their price target on shares of Andersen Group from $25.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 13th. Robert W. Baird increased their price objective on shares of Andersen Group from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. UBS Group raised their target price on shares of Andersen Group from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Finally, Truist Financial upped their target price on Andersen Group from $32.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Andersen Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Andersen Group Trading Up 7.3%

The stock has a market capitalization of $4.60 billion and a P/E ratio of 239.38. 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 moving average price is $36.85.

Andersen Group (NYSE:ANDG) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.08). The company 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. On average, analysts forecast that Andersen Group Inc. will post 0.73 EPS for the current year.

Insider Activity

In other Andersen Group news, Director Robert V. Gunderson, Jr. bought 2,367 shares of Andersen Group stock in a transaction dated Wednesday, May 20th. The stock was bought at an average cost of $35.82 per share, for a total transaction of $84,785.94. Following the purchase, the director owned 15,000 shares in the company, valued at $537,300. This represents a 18.74% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 13.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN bought a new position in shares of Andersen Group during the fourth quarter worth about $46,000. PNC Financial Services Group Inc. bought a new stake in Andersen Group in the fourth quarter valued at about $215,000. Barclays PLC acquired a new stake in Andersen Group during the fourth quarter valued at approximately $218,000. Voloridge Investment Management LLC bought a new position in Andersen Group during the 4th quarter worth approximately $259,000. Finally, XTX Topco Ltd bought a new position in Andersen Group during the 4th quarter worth approximately $269,000.

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.