Andersons Rating Increased to Outperform at Zacks (ANDE)
Andersons (NASDAQ:ANDE) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued on Thursday, Analyst Ratings Net reports. The firm currently has a $77.00 price objective on the stock. Zacks‘s price objective points to a potential upside of 19.38% from the stock’s previous close.
Zacks’ analyst wrote, “We are upgrading our recommendation on Andersons’ from Neutral to Outperform with a target price of $77, based on its positive estimate revisions following strong fourth-quarter 2013 results. Andersons’ earnings per share rose a whopping 104% year over year to a record $1.08. The company will benefit from acquisitions in the past year, which will be accretive to earnings for full-year 2014. Andersons anticipates sizable corn crop production and strong demand for grains in 2014. In addition, its stock split and dividend distribution program will likely drive growth going forward.”
Andersons (NASDAQ:ANDE) traded up 0.67% on Thursday, hitting $64.498. 233,852 shares of the company’s stock traded hands. Andersons has a one year low of $33.8867 and a one year high of $65.00. The stock has a 50-day moving average of $59.05 and a 200-day moving average of $55.5. The company has a market cap of $1.806 billion and a P/E ratio of 20.15.
Andersons (NASDAQ:ANDE) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.08 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.61 by $0.53. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the company posted $0.80 earnings per share. Andersons’s revenue was down 5.7% compared to the same quarter last year. On average, analysts predict that Andersons will post $4.15 earnings per share for the current fiscal year.
Separately, analysts at Stephens upgraded shares of Andersons from an “equal weight” rating to an “overweight” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $75.20.
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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