Andersons (NASDAQ:ANDE) Upgraded to Buy by StockNews.com

Andersons (NASDAQ:ANDE) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Andersons Stock Down 1.1 %

ANDE stock traded down $0.52 during trading on Wednesday, reaching $48.62. 105,261 shares of the stock were exchanged, compared to its average volume of 173,820. The firm’s 50 day moving average is $49.88 and its 200 day moving average is $52.48. The firm has a market cap of $1.66 billion, a P/E ratio of 13.73 and a beta of 0.61. The company has a current ratio of 2.07, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. Andersons has a twelve month low of $45.07 and a twelve month high of $61.46.

Andersons (NASDAQ:ANDE) last announced its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.04). Andersons had a net margin of 0.83% and a return on equity of 6.99%. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same period last year, the business posted $1.52 EPS. The company’s revenue was down 30.5% on a year-over-year basis.

Institutional Investors Weigh In On Andersons

A number of hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in shares of Andersons by 8.8% in the second quarter. Pacer Advisors Inc. now owns 3,737,703 shares of the basic materials company’s stock valued at $185,390,000 after purchasing an additional 303,711 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Andersons by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,818,680 shares of the basic materials company’s stock valued at $162,189,000 after acquiring an additional 46,203 shares in the last quarter. American Century Companies Inc. boosted its holdings in Andersons by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 933,968 shares of the basic materials company’s stock worth $46,325,000 after acquiring an additional 134,126 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Andersons by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 683,933 shares of the basic materials company’s stock worth $39,354,000 after acquiring an additional 18,482 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Andersons by 8.7% during the 2nd quarter. Victory Capital Management Inc. now owns 456,624 shares of the basic materials company’s stock worth $22,649,000 after acquiring an additional 36,594 shares during the last quarter. Institutional investors and hedge funds own 87.06% of the company’s stock.

About Andersons

The Andersons, Inc operates in trade, renewables, and nutrient and industrial sectors in the United States, Canada, Mexico, Egypt, Switzerland, and internationally. It operates through three segments: Trade, Renewables, and Nutrient & Industrial. The company’s Trade segment operates grain elevators; stores commodities; and provides grain marketing, risk management, and origination services, as well as sells commodities, such as corn, soybeans, wheat, oats, ethanol, and corn oil.