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

Andersen Group Inc. (NYSE:ANDG) hit a new 52-week high on Monday. The stock traded as high as $64.75 and last traded at $64.81, with a volume of 465,349 shares. The stock had previously closed at $63.39.

Analyst Ratings Changes

ANDG has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $56.00 target price on shares of Andersen Group in a research note on Friday, August 14th. BMO Capital Markets initiated coverage on shares of Andersen Group in a research note on Tuesday, September 8th. They set a “market perform” rating and a $58.00 price target on the stock. 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 note on Monday, August 31st. Morgan Stanley boosted their price objective on Andersen Group from $27.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Finally, Truist Financial raised their target price on Andersen Group from $55.00 to $70.00 and gave the company a “buy” rating in a report on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Andersen Group presently has an average rating of “Moderate Buy” and a consensus target price of $56.14.

Andersen Group Stock Up 1.8%

The firm has a 50-day moving average of $55.21 and a two-hundred day moving average of $44.57. The stock has a market capitalization of $7.29 billion and a price-to-earnings ratio of -120.78. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 7.82.

Andersen Group (NYSE:ANDG) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.07. The business had revenue of $217.66 million during the quarter. As a group, sell-side analysts anticipate that Andersen Group Inc. will post 0.73 earnings per share for the current year.

Institutional Trading of Andersen Group

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in Andersen Group by 353.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,498 shares of the company’s stock valued at $81,000 after acquiring an additional 1,168 shares during the period. Bank of America Corp DE increased its holdings in shares of Andersen Group by 512.0% during the first quarter. Bank of America Corp DE now owns 12,852 shares of the company’s stock valued at $350,000 after acquiring an additional 10,752 shares in the last quarter. Corient Private Wealth LLC purchased a new position in Andersen Group during the 4th quarter worth $357,000. Bank of New York Mellon Corp grew its position in shares of Andersen Group by 47.0% during the 1st quarter. Bank of New York Mellon Corp now owns 18,636 shares of the company’s stock valued at $507,000 after acquiring an additional 5,962 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in Andersen Group in the 2nd quarter valued at approximately $592,000.

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.