Andersons (NASDAQ:ANDE) Reaches New 1-Year High – Here’s What Happened

The Andersons, Inc. (NASDAQ:ANDE) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $53.32 and last traded at $52.29, with a volume of 45684 shares changing hands. The stock had previously closed at $49.36.

Analysts Set New Price Targets

ANDE has been the topic of several analyst reports. BMO Capital Markets upgraded Andersons from a “market perform” rating to an “outperform” rating and raised their target price for the company from $50.00 to $65.00 in a report on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of Andersons in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Andersons presently has a consensus rating of “Moderate Buy” and an average target price of $58.33.

Andersons Trading Up 4.6%

The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.47. The business’s 50 day moving average price is $47.45 and its 200-day moving average price is $41.19. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 24.11 and a beta of 0.79.

Andersons (NASDAQ:ANDE) last announced its quarterly earnings data on Tuesday, November 4th. The basic materials company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.38. Andersons had a return on equity of 5.83% and a net margin of 0.63%.The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period in the previous year, the company earned $0.80 earnings per share. Andersons’s quarterly revenue was up 2.2% on a year-over-year basis. Equities analysts expect that The Andersons, Inc. will post 3.11 EPS for the current year.

Insiders Place Their Bets

In other news, VP Anne G. Rex sold 3,000 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $51.36, for a total transaction of $154,080.00. Following the sale, the vice president directly owned 23,549 shares in the company, valued at approximately $1,209,476.64. This represents a 11.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.30% of the stock is currently owned by company insiders.

Institutional Trading of Andersons

Several hedge funds have recently bought and sold shares of ANDE. Vest Financial LLC raised its stake in Andersons by 43.5% during the 2nd quarter. Vest Financial LLC now owns 98,442 shares of the basic materials company’s stock valued at $3,618,000 after acquiring an additional 29,858 shares in the last quarter. Magnetar Financial LLC bought a new stake in shares of Andersons during the second quarter valued at about $1,331,000. PAX Financial Group LLC acquired a new stake in Andersons in the second quarter worth about $226,000. Acadian Asset Management LLC lifted its holdings in Andersons by 61.8% in the first quarter. Acadian Asset Management LLC now owns 67,745 shares of the basic materials company’s stock worth $2,903,000 after purchasing an additional 25,885 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Andersons during the 2nd quarter valued at about $1,723,000. 87.06% of the stock is currently owned by institutional investors.

Andersons Company Profile

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.