Andersons Trading 6.1% Higher After Earnings Beat (ANDE)
Andersons (NASDAQ:ANDE) traded up 6.1% during trading on Thursday following a stronger than expected earnings report, AR Network reports. The stock traded as high as $60.45 and last traded at $59.25, with a volume of 560,631 shares trading hands. The stock had previously closed at $55.86.
The company reported $1.56 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.16 by $0.40. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. The company’s quarterly revenue was down 16.3% on a year-over-year basis.
ANDE has been the subject of a number of recent research reports. Analysts at BB&T Corp. upgraded shares of Andersons from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Separately, analysts at Macquarie upgraded shares of Andersons from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 4th. They now have a $58.00 price target on the stock. Finally, analysts at BMO Capital Markets upgraded shares of Andersons from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 28th. They now have a $56.00 price target on the stock, up previously from $55.00. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $57.25.
The stock’s 50-day moving average is $53.77 and its 200-day moving average is $55.19. The company has a market cap of $1.691 billion and a price-to-earnings ratio of 15.83.
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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