Andersen Group (NYSE:ANDG) Price Target Raised to $70.00

Andersen Group (NYSE:ANDG) had its price target boosted by equities researchers at Truist Financial from $55.00 to $70.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 30.62% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets began coverage on shares of Andersen Group in a research report on Tuesday, September 8th. They set a “market perform” rating and a $58.00 price objective for the company. Wells Fargo & Company upped their price target 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. Robert W. Baird lifted their price objective on Andersen Group from $57.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, August 31st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $56.00 target price on shares of Andersen Group in a report on Friday, August 14th. Finally, Morgan Stanley lifted their price target on shares of Andersen Group from $27.00 to $54.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Andersen Group presently has a consensus rating of “Moderate Buy” and an average price target of $56.14.

Andersen Group Trading Down 0.7%

Andersen Group stock opened at $53.59 on Friday. Andersen Group has a 52-week low of $18.12 and a 52-week high of $57.62. The company has a market cap of $6.06 billion and a P/E ratio of -101.39. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 7.82. The business has a 50-day simple moving average of $50.63 and a two-hundred day simple moving average of $39.95.

Andersen Group (NYSE:ANDG) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.07. The business had revenue of $217.66 million during the quarter. Analysts predict that Andersen Group will post 0.73 EPS for the current year.

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 on Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total transaction of $13,472,807.36. Following the completion of the transaction, the insider owned 1,333,749 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 13.00% of the company’s stock.

Hedge Funds Weigh In On Andersen Group

Several institutional investors have recently bought and sold shares of ANDG. Brown Advisory Inc. purchased a new stake in Andersen Group in the 4th quarter worth $29,365,000. Allspring Global Investments Holdings LLC boosted its holdings 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 purchasing an additional 1,267 shares during the last quarter. Sei Investments Co. grew its position in shares of Andersen Group by 96.3% during the first 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 in the last quarter. Telemark Asset Management LLC purchased a new position in shares of Andersen Group during the fourth quarter valued at about $2,593,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Andersen Group in the first quarter worth about $1,686,000.

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.