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

StockNews.com upgraded shares of Andersons (NASDAQ:ANDE) from a hold rating to a buy rating in a research note published on Wednesday.

Andersons Stock Up 2.6 %

ANDE stock opened at $48.27 on Wednesday. The stock has a 50-day simple moving average of $48.05 and a two-hundred day simple moving average of $49.66. Andersons has a twelve month low of $41.76 and a twelve month high of $61.46. The firm has a market capitalization of $1.64 billion, a PE ratio of 13.79 and a beta of 0.60. The company has a quick ratio of 1.23, a current ratio of 1.98 and a debt-to-equity ratio of 0.36.

Andersons (NASDAQ:ANDE) last issued its quarterly earnings data on Monday, November 4th. The basic materials company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.43 by $0.37. Andersons had a net margin of 1.06% and a return on equity of 8.21%. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the previous year, the company earned $0.13 earnings per share. Andersons’s revenue for the quarter was down 27.9% on a year-over-year basis.

Institutional Investors Weigh In On Andersons

Institutional investors and hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. grew its position in Andersons by 8.8% during the second quarter. Pacer Advisors Inc. now owns 3,737,703 shares of the basic materials company’s stock worth $185,390,000 after buying an additional 303,711 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Andersons by 16.8% during the second quarter. American Century Companies Inc. now owns 933,968 shares of the basic materials company’s stock worth $46,325,000 after purchasing an additional 134,126 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Andersons by 23.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 652,579 shares of the basic materials company’s stock worth $32,720,000 after purchasing an additional 124,468 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Andersons in the third quarter worth approximately $2,798,000. Finally, Squarepoint Ops LLC purchased a new stake in Andersons in the second quarter valued at approximately $2,311,000. Hedge funds and other institutional investors 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.