Andersons (NASDAQ:ANDE) Upgraded to “Buy” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Andersons (NASDAQ:ANDE) from a hold rating to a buy rating in a research note published on Tuesday morning, Zacks.com reports. The brokerage currently has $22.00 price target on the basic materials company’s stock.

According to Zacks, “The Andersons, Inc. is a regional grain merchandiser with diversified businesses in agriculture, plant nutrient formulation and distribution, turf product production, railcar marketing and general merchandise retailing that generate revenues. The company maintains grain and production facilities throughout the Midwest and six retail locations in northern and central Ohio. “

Several other brokerages have also issued reports on ANDE. BidaskClub raised shares of Andersons from a sell rating to a hold rating in a research note on Saturday, August 8th. National Securities started coverage on shares of Andersons in a research note on Tuesday, August 25th. They set a buy rating and a $24.00 target price on the stock. Seaport Global Securities raised shares of Andersons from a neutral rating to a buy rating and set a $26.00 target price on the stock in a research note on Thursday, September 24th. BMO Capital Markets raised shares of Andersons from a market perform rating to an outperform rating and increased their target price for the stock from $20.00 to $24.00 in a research note on Monday, September 14th. Finally, TheStreet raised shares of Andersons from a d+ rating to a c- rating in a research note on Monday, August 17th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Andersons has an average rating of Buy and an average target price of $23.60.

NASDAQ:ANDE opened at $20.17 on Tuesday. The firm’s fifty day moving average is $18.67 and its 200-day moving average is $15.81. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.84 and a current ratio of 1.51. Andersons has a 52 week low of $10.00 and a 52 week high of $25.93. The firm has a market cap of $665.61 million, a P/E ratio of -118.65 and a beta of 0.81.

Andersons (NASDAQ:ANDE) last posted its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.83. Andersons had a negative net margin of 0.06% and a positive return on equity of 0.18%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $2.25 billion. As a group, sell-side analysts anticipate that Andersons will post -0.03 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st will be issued a dividend of $0.175 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.70 annualized dividend and a yield of 3.47%. Andersons’s payout ratio is 13.08%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ANDE. Point72 Hong Kong Ltd acquired a new position in Andersons during the second quarter worth $44,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Andersons by 164.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,138 shares of the basic materials company’s stock worth $57,000 after buying an additional 2,572 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Andersons by 15.9% in the second quarter. Public Employees Retirement System of Ohio now owns 6,893 shares of the basic materials company’s stock valued at $95,000 after purchasing an additional 948 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Andersons in the second quarter valued at about $144,000. Finally, Atlas Brown Inc. purchased a new stake in shares of Andersons in the second quarter valued at about $159,000. Hedge funds and other institutional investors own 72.81% of the company’s stock.

About Andersons

The Andersons, Inc, an agriculture company, operates in the grain, ethanol, plant nutrient, and rail sectors in the United States and internationally. The company's Grain segment operates grain elevators; stores grains; and provides grain marketing, risk management, and corn origination services to its customers and affiliated ethanol facilities.

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