Andersons Downgraded to Neutral at Zacks (ANDE)
Andersons (NASDAQ:ANDE) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued to investors on Thursday, AnalystRatingsNetwork reports. They currently have a $81.00 target price on the stock. Zacks‘ target price suggests a potential downside of 4.68% from the company’s current price.
Zacks‘ analyst wrote, “Andersons reported third-quarter 2013 earnings of $0.91 per share, up 1% year over year. Revenues in the reported quarter rose 4% year over year to $1.18 billion. The Rail Group is expected to continue performing well, based on the proficiently managed railcar portfolio. Andersons is expected to benefit from the record corn crop that is currently being harvested and also from acquisitions of Thompsons Limited and Mile Rail. Further share repurchases and dividend hikes will also provide support to the stock. However, questions concerning the outlook of the domestic ethanol, significant decline in fertilizer volumes and higher expenses in the car business will affect results. We have thus downgraded our recommendation from Outperform to Neutral on Andersons with a target price of $81.00. “
Several other analysts have also recently commented on the stock. Analysts at Stephens upgraded shares of Andersons from an “equal weight” rating to an “overweight” rating in a research note to investors on Thursday. Separately, analysts at Stifel Nicolaus initiated coverage on shares of Andersons in a research note to investors on Thursday, January 9th. They set a “hold” rating on the stock. Finally, analysts at Ned Davis Research downgraded shares of Andersons from a “buy” rating to a “neutral” rating in a research note to investors on Monday, December 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Andersons presently has a consensus rating of “Hold” and a consensus target price of $76.00.
Shares of Andersons (NASDAQ:ANDE) traded up 9.74% during mid-day trading on Thursday, hitting $84.98. 332,994 shares of the company’s stock traded hands. Andersons has a one year low of $42.75 and a one year high of $93.42. The stock’s 50-day moving average is $85.31 and its 200-day moving average is $75.28. The company has a market cap of $1.587 billion and a P/E ratio of 19.60.
The Andersons, Inc is a diversified company engaged in agriculture business. The Company conducts business across North America in the grain, ethanol, and plant nutrient sectors, railcar leasing, turf and cob products, and consumer retailing.
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