Andersen Group (NYSE:ANDG) Sets New 12-Month High – Still a Buy?

Andersen Group Inc. (NYSE:ANDG) hit a new 52-week high during trading on Monday. The stock traded as high as $60.21 and last traded at $59.5750, with a volume of 78,329 shares traded. The stock had previously closed at $58.27.

Analyst Upgrades and Downgrades

ANDG has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $56.00 target price on shares of Andersen Group in a research note on Friday, August 14th. Wells Fargo & Company boosted their price objective on shares of Andersen Group from $38.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Morgan Stanley upped their price target on Andersen Group from $27.00 to $54.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. BMO Capital Markets initiated coverage on Andersen Group in a research note on Tuesday, September 8th. They issued a “market perform” rating and a $58.00 price target on the stock. Finally, Truist Financial boosted their price target on shares of Andersen Group from $55.00 to $70.00 and gave the company a “buy” rating in a report on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.14.

Andersen Group Price Performance

The business has a fifty day moving average of $53.97 and a two-hundred day moving average of $43.42. The firm has a market capitalization of $6.73 billion and a price-to-earnings ratio of -112.20. The company has a debt-to-equity ratio of 7.82, a quick ratio of 2.19 and a current ratio of 2.19.

Andersen Group (NYSE:ANDG) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.07. The business had revenue of $217.66 million for the quarter. As a group, research analysts predict that Andersen Group Inc. will post 0.73 EPS for the current fiscal year.

Institutional Trading of Andersen Group

A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Andersen Group by 353.9% during the third quarter. GAMMA Investing LLC now owns 1,498 shares of the company’s stock worth $81,000 after purchasing an additional 1,168 shares during the period. Bank of America Corp DE boosted its position in shares of Andersen Group by 512.0% during the 1st 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 in the last quarter. Corient Private Wealth LLC acquired a new position in shares of Andersen Group during the 4th quarter valued at $357,000. Squarepoint Ops LLC acquired a new stake in Andersen Group in the second quarter worth $592,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of 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 valued at $507,000 after purchasing an additional 5,962 shares during the period.

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.