The Andersons Given Average Recommendation of “Buy” by Brokerages (NASDAQ:ANDE)
Shares of The Andersons (NASDAQ:ANDE) have received a consensus recommendation of “Buy” from the nine brokerages that are currently covering the company, StockRatingsNetwork reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $64.75.
In other The Andersons news, VP Anne G. Rex sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $66.69, for a total value of $100,035.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
The Andersons (NASDAQ:ANDE) opened at 68.77 on Thursday. The Andersons has a 1-year low of $42.4533 and a 1-year high of $68.88. The stock has a 50-day moving average of $59.54 and a 200-day moving average of $56.33. The company has a market cap of $1.943 billion and a price-to-earnings ratio of 16.59. The Andersons also was the target of a large drop in short interest in the month of August. As of August 15th, there was short interest totalling 679,091 shares, a drop of 30.0% from the July 31st total of 970,657 shares. Based on an average daily trading volume, of 340,366 shares, the days-to-cover ratio is currently 2.0 days. Currently, 2.6% of the company’s shares are short sold.
The Andersons (NASDAQ:ANDE) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.05 earnings per share. The Andersons’s revenue was down 16.3% compared to the same quarter last year. On average, analysts predict that The Andersons will post $4.36 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Monday, September 29th.
A number of analysts have recently weighed in on ANDE shares. Analysts at BMO Capital Markets raised their price target on shares of The Andersons from $56.00 to $65.00 in a research note on Friday, August 8th. Separately, analysts at Zacks reiterated an “outperform” rating on shares of The Andersons in a research note on Friday, August 8th. They now have a $72.00 price target on the stock. Finally, analysts at Feltl & Co. upgraded shares of The Andersons from a “hold” rating to a “buy” rating in a research note on Friday, August 8th.
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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