Andersen Group (NYSE:ANDG) Price Target Raised to $70.00

Andersen Group (NYSE:ANDG) had its target price increased by Truist Financial from $55.00 to $70.00 in a research note issued to investors on Friday morning, MarketBeat.com reports. The brokerage currently has a buy rating on the stock.

ANDG has been the topic of a number of other research reports. BMO Capital Markets initiated coverage on Andersen Group in a research report on Tuesday, September 8th. They issued a “market perform” rating and a $58.00 target price on the stock. Robert W. Baird upped their price target on Andersen Group from $57.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, August 31st. Weiss Ratings raised shares of Andersen Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 10th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $56.00 price objective on shares of Andersen Group in a report on Friday, August 14th. Finally, Wells Fargo & Company increased their target price on shares of Andersen Group from $38.00 to $49.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Andersen Group presently has a consensus rating of “Moderate Buy” and an average price target of $56.14.

Andersen Group Price Performance

ANDG stock opened at $53.08 on Friday. The stock has a 50-day moving average price of $50.80 and a two-hundred day moving average price of $40.16. Andersen Group has a 1 year low of $18.12 and a 1 year high of $57.62. The stock has a market cap of $6.00 billion and a PE ratio of -100.14. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.82.

Andersen Group (NYSE:ANDG) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. The firm had revenue of $217.66 million during the quarter. Equities analysts forecast that Andersen Group will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Durable Capital Partners Lp sold 336,736 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total transaction of $13,472,807.36. Following the completion of the transaction, the insider directly owned 1,333,749 shares of the company’s stock, valued at approximately $53,363,297.49. This represents a 20.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 13.00% of the company’s stock.

Institutional Investors Weigh In On Andersen Group

Several large investors have recently made changes to their positions in the stock. Brown Advisory Inc. bought a new position in shares of Andersen Group in the fourth quarter valued at $29,365,000. Allspring Global Investments Holdings LLC raised its position in Andersen Group by 1.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 130,856 shares of the company’s stock worth $3,559,000 after acquiring an additional 1,267 shares in the last quarter. Sei Investments Co. raised its position in Andersen Group by 96.3% during the first quarter. Sei Investments Co. now owns 121,649 shares of the company’s stock worth $3,309,000 after acquiring an additional 59,693 shares in the last quarter. Telemark Asset Management LLC acquired a new stake in Andersen Group in the fourth quarter valued at $2,593,000. Finally, Renaissance Technologies LLC acquired a new stake in Andersen Group in the first quarter valued at $1,686,000.

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.