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

Shares of Andersen Group Inc. (NYSE:ANDG) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $40.00 and last traded at $36.7490, with a volume of 227 shares traded. The stock had previously closed at $37.30.

Analyst Upgrades and Downgrades

A number of research firms have commented on ANDG. Wells Fargo & Company upped their target price on shares of Andersen Group from $25.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 13th. Truist Financial increased their price objective on shares of Andersen Group from $32.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Robert W. Baird lifted their target price on shares of Andersen Group from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Morgan Stanley boosted their target price on Andersen Group from $24.00 to $27.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $41.00 price target on shares of Andersen Group in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Andersen Group Stock Performance

The stock’s 50-day simple moving average is $30.46.

Andersen Group (NYSE:ANDG) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The company had revenue of $240.75 million during the quarter. The business’s revenue was up 15.7% on a year-over-year basis. As a group, analysts anticipate that Andersen Group Inc. will post 0.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its stake in Andersen Group by 1.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 130,856 shares of the company’s stock valued at $3,559,000 after purchasing an additional 1,267 shares during the period. Wells Fargo & Company MN purchased a new position in shares of Andersen Group during the fourth quarter worth about $46,000. Bank of New York Mellon Corp increased its position in Andersen Group by 47.0% in 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. PNC Financial Services Group Inc. purchased a new position in shares of Andersen Group in the 4th quarter valued at approximately $215,000. Finally, Barclays PLC acquired a new position in shares of Andersen Group in 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.