The Andersons Inc. (NASDAQ:ANDE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $39.00 price objective on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 12.10% from the company’s previous close.
According to Zacks, “Andersons expects the second half to greatly improve from the first half and believes it will post earnings per share above the current consensus level of $0.81 per share for 2016. The company is positioned to deliver over $10 million in run rate cost reductions by the end of 2017. Additionally, rising estimates for preharvest inventory levels, combined with a quality harvest, will create income opportunities for Andersons’ Grain group late this year and into 2017. Its outlook also remains strong on wheat, corn and soybean crops trending favorable. Strength in margins return for the ethanol business will also drive the company's growth.”
Several other research firms have also recently weighed in on ANDE. Macquarie reissued a “buy” rating and set a $42.00 price objective (up previously from $36.00) on shares of The Andersons in a research report on Monday, June 6th. Buckingham Research raised The Andersons from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $40.00 to $42.00 in a research report on Monday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The Andersons has an average rating of “Buy” and an average price target of $39.75.
The Andersons (NASDAQ:ANDE) traded up 1.49% during trading on Tuesday, reaching $35.31. The company had a trading volume of 95,475 shares. The firm’s market capitalization is $996.66 million. The Andersons has a 12 month low of $23.25 and a 12 month high of $38.74. The stock has a 50 day moving average price of $36.13 and a 200 day moving average price of $34.01.
The Andersons (NASDAQ:ANDE) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by $0.07. The Andersons had a positive return on equity of 0.45% and a negative net margin of 1.19%. The company earned $1.06 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the firm earned $1.09 EPS. The Andersons’s quarterly revenue was down 10.4% on a year-over-year basis. On average, equities research analysts predict that The Andersons will post $0.96 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 24th. Investors of record on Monday, October 3rd will be paid a dividend of $0.155 per share. The ex-dividend date is Thursday, September 29th. This represents a $0.62 annualized dividend and a yield of 1.78%. The Andersons’s dividend payout ratio is -35.84%.
Institutional investors have recently modified their holdings of the stock. PineBridge Investments L.P. raised its position in shares of The Andersons by 3.8% in the second quarter. PineBridge Investments L.P. now owns 3,331 shares of the company’s stock valued at $119,000 after buying an additional 121 shares in the last quarter. Botty Investors LLC purchased a new position in shares of The Andersons during the second quarter valued at about $133,000. Teacher Retirement System of Texas raised its stake in The Andersons by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 3,819 shares of the company’s stock valued at $136,000 after buying an additional 470 shares in the last quarter. Mason Street Advisors LLC bought a new stake in The Andersons during the second quarter valued at $182,000. Finally, Public Employees Retirement System of Ohio raised its stake in The Andersons by 11.8% in the second quarter. Public Employees Retirement System of Ohio now owns 5,330 shares of the company’s stock valued at $189,000 after buying an additional 561 shares in the last quarter. Hedge funds and other institutional investors own 74.86% of the company’s stock.
About The Andersons
The Andersons, Inc is a diversified company. The Company conducts business across North America in the grain, ethanol, plant nutrient and rail sectors. The Company also produces turf and cob products, and has a consumer retailing presence. The Company operates through five segments: Grain, Ethanol, Rail, Plant Nutrient and Retail.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for The Andersons Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Andersons Inc. and related companies with MarketBeat.com's FREE daily email newsletter.