Andersen Group (NYSE:ANDG) Sets New 1-Year High – Should You Buy?

Andersen Group Inc. (NYSE:ANDG) shares hit a new 52-week high during mid-day trading on Wednesday . The stock 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.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ANDG shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $41.00 target price on shares of Andersen Group in a research note on Wednesday, May 13th. Weiss Ratings raised shares of Andersen Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Morgan Stanley boosted their price objective on shares of Andersen Group from $24.00 to $27.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 13th. UBS Group increased their price objective on shares of Andersen Group from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Finally, Robert W. Baird raised their target price on shares of Andersen Group from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $39.00.

Andersen Group Stock Performance

The company has a debt-to-equity ratio of 9.72, a current ratio of 2.36 and a quick ratio of 2.36. The business has a 50 day simple moving average of $36.85. The company has a market cap of $4.60 billion and a PE ratio of 239.38.

Andersen Group (NYSE:ANDG) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.08). The firm had revenue of $240.75 million for the quarter. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. On average, research analysts anticipate that Andersen Group Inc. will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert V. Gunderson, Jr. purchased 2,367 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $35.82 per share, for a total transaction of $84,785.94. Following the completion of the purchase, the director owned 15,000 shares of the company’s stock, valued at $537,300. This trade represents a 18.74% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 13.00% of the company’s stock.

Hedge Funds Weigh In On Andersen Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ANDG. Allspring Global Investments Holdings LLC increased its position in Andersen Group by 1.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 130,856 shares of the company’s stock valued at $3,559,000 after acquiring an additional 1,267 shares during the period. Wells Fargo & Company MN bought a new position in shares of Andersen Group in the fourth quarter worth $46,000. Bank of New York Mellon Corp increased its holdings in shares of Andersen Group by 47.0% during the first quarter. Bank of New York Mellon Corp now owns 18,636 shares of the company’s stock valued at $507,000 after purchasing an additional 5,962 shares during the period. PNC Financial Services Group Inc. acquired a new position in Andersen Group during the 4th quarter valued at about $215,000. Finally, Barclays PLC acquired a new position in shares of Andersen Group during the fourth quarter valued at approximately $218,000.

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.