Short Interest in The Andersons Drops By 30.0% (ANDE)
Shares of The Andersons (NASDAQ:ANDE) were the target of a large decrease in short interest during the month of August. As of August 15th, there was short interest totalling 679,091 shares, a decrease of 30.0% from the July 31st total of 970,657 shares, American Banking & Market News reports. Based on an average trading volume of 340,366 shares, the short-interest ratio is currently 2.0 days. Currently, 2.6% of the shares of the company are sold short.
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 shares were sold at an average price of $66.69, for a total transaction of $100,035.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on ANDE shares. Analysts at Janney Montgomery Scott initiated coverage on shares of The Andersons in a research note on Thursday. They set a “neutral” rating on the stock. Separately, 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $64.75.
The Andersons (NASDAQ:ANDE) opened at 68.39 on Friday. The Andersons has a one year low of $42.4533 and a one year high of $69.77. The stock has a 50-day moving average of $60.94 and a 200-day moving average of $56.64. The company has a market cap of $1.932 billion and a P/E ratio of 16.86.
The Andersons (NASDAQ:ANDE) last announced its earnings results 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. Investors 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.
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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