Andersen Group (NYSE:ANDG) Shares Gap Up After Analyst Upgrade

Andersen Group Inc. (NYSE:ANDG) gapped up prior to trading on Thursday after Morgan Stanley raised their price target on the stock from $24.00 to $27.00. The stock had previously closed at $35.50, but opened at $37.52. Morgan Stanley currently has an equal weight rating on the stock. Andersen Group shares last traded at $35.39, with a volume of 9,879 shares.

Several other research analysts have also recently weighed in on ANDG. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $41.00 price target on shares of Andersen Group in a report on Wednesday. Robert W. Baird boosted their target price on Andersen Group from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday. Weiss Ratings started coverage on Andersen Group in a report on Monday, April 6th. They issued a “sell (e)” rating on the stock. Wells Fargo & Company lifted their price target on Andersen Group from $25.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Truist Financial boosted their price objective on Andersen Group from $32.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.67.

Institutional Investors Weigh In On Andersen Group

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. bought a new stake in Andersen Group during the fourth quarter worth about $45,987,000. J. Goldman & Co LP bought a new position in shares of Andersen Group during the 4th quarter valued at about $30,079,000. Brown Advisory Inc. purchased a new position in shares of Andersen Group during the 4th quarter valued at about $29,365,000. Franklin Resources Inc. bought a new stake in Andersen Group in the 4th quarter worth approximately $25,864,000. Finally, Royce & Associates LP bought a new stake in Andersen Group in the 4th quarter worth approximately $19,948,000.

Andersen Group Stock Up 0.3%

The stock has a 50 day moving average of $29.79.

Andersen Group (NYSE:ANDG) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.08). The business had revenue of $240.75 million for the quarter. The business’s revenue was up 15.7% compared to the same quarter last year. Analysts predict that Andersen Group Inc. will post 0.23 earnings per share for the current fiscal year.

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.