Andersen Group (NYSE:ANDG) Reaches New 1-Year High – Time to 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 $58.21 and last traded at $58.1120, with a volume of 6,767 shares. The stock had previously closed at $57.66.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Truist Financial boosted their price objective on Andersen Group from $55.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, September 25th. Robert W. Baird raised their target price on Andersen Group from $57.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, August 31st. Wells Fargo & Company lifted their price target on Andersen Group from $38.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. BMO Capital Markets initiated coverage on Andersen Group in a research report on Tuesday, September 8th. They set a “market perform” rating and a $58.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $56.00 price target on shares of Andersen Group in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Andersen Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.14.

Andersen Group Trading Up 0.9%

The stock has a market capitalization of $6.58 billion and a PE ratio of -109.91. The company’s 50 day moving average price is $53.27 and its two-hundred day moving average price is $42.52. The company has a debt-to-equity ratio of 7.82, a current ratio of 2.19 and a quick ratio of 2.19.

Andersen Group (NYSE:ANDG) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.07. The business had revenue of $217.66 million for the quarter. As a group, analysts expect that Andersen Group Inc. will post 0.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in shares of Andersen Group by 353.9% in the third quarter. GAMMA Investing LLC now owns 1,498 shares of the company’s stock valued at $81,000 after purchasing an additional 1,168 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Andersen Group by 512.0% in the first quarter. Bank of America Corp DE now owns 12,852 shares of the company’s stock valued at $350,000 after purchasing an additional 10,752 shares during the last quarter. Corient Private Wealth LLC purchased a new position in Andersen Group during the fourth quarter worth approximately $357,000. Squarepoint Ops LLC purchased a new position in Andersen Group during the second quarter worth approximately $592,000. Finally, Bank of New York Mellon Corp boosted its stake in Andersen Group by 47.0% during the first quarter. Bank of New York Mellon Corp now owns 18,636 shares of the company’s stock worth $507,000 after buying an additional 5,962 shares during the last quarter.

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.