The Andersons Inc. (NASDAQ:ANDE) was upgraded by investment analysts at Buckingham Research from a “neutral” rating to a “buy” rating in a research report issued on Monday. The brokerage presently has a $42.00 target price on the stock, up from their previous target price of $40.00. Buckingham Research’s price target would indicate a potential upside of 19.97% from the company’s previous close.
The analysts wrote, “ANDE is committed to achieving $10M in annual run rate cost savings by 2017, but we think they will overachieve on that measure. On top of the Iowa divestiture, we estimate ANDE has the potential to add $0.30 to base EPS. ANDE remains committed to rationalizing further costs and non-strategic assets,” the analysts opined in their research note to clients.Following the challenges faced by Andersons in fiscal year 2015, analysts see conditions improved in the ECB “setting the stage for a more favorable harvest and more normalized basis opportunities.”
A number of other brokerages also recently issued reports on ANDE. Zacks Investment Research raised The Andersons from a “strong sell” rating to a “hold” rating and set a $41.00 price target on the stock in a research report on Monday, July 11th. Macquarie reaffirmed a “buy” rating and set a $42.00 price target (up from $36.00) on shares of The Andersons in a research report on Monday, June 6th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $39.75.
The Andersons (NASDAQ:ANDE) opened at 35.01 on Monday. The stock’s market capitalization is $988.19 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 $36.06 and a 200 day moving average price of $34.04.
The Andersons (NASDAQ:ANDE) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by $0.07. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.24 billion. The Andersons had a positive return on equity of 0.45% and a negative net margin of 1.19%. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 earnings per share. Equities analysts predict that The Andersons will post $1.00 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 24th. Investors of record on Monday, October 3rd will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Thursday, September 29th. The Andersons’s payout ratio is -35.84%.
Several institutional investors have recently added to or reduced their stakes in ANDE. PineBridge Investments L.P. increased its stake 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 bought a new stake in shares of The Andersons during the second quarter valued at $133,000. Teacher Retirement System of Texas increased its stake in shares of 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 shares of The Andersons during the second quarter valued at $182,000. Finally, Public Employees Retirement System of Ohio increased its stake in shares of 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. 74.86% of the stock is currently owned by hedge funds and other institutional investors.
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.
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