Andersons (NASDAQ:ANDE) Price Target Raised to $90.00 at BMO Capital Markets

Andersons (NASDAQ:ANDE) had its target price boosted by investment analysts at BMO Capital Markets from $75.00 to $90.00 in a research report issued on Wednesday, MarketBeat reports. The brokerage presently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ price target suggests a potential upside of 20.84% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group cut shares of Andersons to a “buy” rating in a report on Thursday, June 18th. Weiss Ratings upgraded Andersons from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft set a $110.00 price objective on Andersons in a report on Tuesday. UBS Group set a $90.00 price objective on Andersons in a research note on Wednesday, May 20th. Finally, Benchmark reaffirmed a “buy” rating on shares of Andersons in a research report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $95.00.

Andersons Price Performance

NASDAQ ANDE opened at $74.48 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 1.37 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $2.54 billion, a PE ratio of 19.81 and a beta of 0.66. The company has a 50 day moving average price of $72.21 and a two-hundred day moving average price of $70.04. Andersons has a 12-month low of $31.84 and a 12-month high of $82.11.

Andersons (NASDAQ:ANDE) last announced its quarterly earnings results on Monday, August 3rd. The basic materials company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.48 by $0.67. Andersons had a net margin of 1.62% and a return on equity of 16.50%. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the prior year, the business posted $0.24 EPS. Andersons’s quarterly revenue was down 1.2% on a year-over-year basis.

Insider Transactions at Andersons

In other news, Director Patrick E. Bowe sold 3,534 shares of the firm’s stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $80.53, for a total value of $284,593.02. Following the sale, the director directly owned 74,875 shares of the company’s stock, valued at approximately $6,029,683.75. This trade represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.30% of the stock is owned by company insiders.

Institutional Trading of Andersons

Several hedge funds have recently added to or reduced their stakes in the business. Rubric Capital Management LP acquired a new stake in Andersons in the 4th quarter valued at approximately $53,469,000. Ophir Asset Management Pty Ltd bought a new position in Andersons in the 4th quarter worth approximately $38,746,000. Victory Capital Management Inc. increased its position in Andersons by 354.7% in the 4th quarter. Victory Capital Management Inc. now owns 731,019 shares of the basic materials company’s stock worth $38,868,000 after buying an additional 570,245 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Andersons by 82.1% during the fourth quarter. Janus Henderson Group PLC now owns 637,342 shares of the basic materials company’s stock worth $33,875,000 after buying an additional 287,304 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Andersons by 162.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 438,219 shares of the basic materials company’s stock valued at $17,445,000 after acquiring an additional 271,451 shares during the period. Institutional investors own 87.06% of the company’s stock.

Andersons Company Profile

The Andersons, Inc operates as a diversified agriculture company offering a broad range of products and services to farmers, retailers and industrial customers. Through its Grain Group, the company purchases, stores, merchandises and transports corn, soybeans and other commodities, while its Renewables Group produces ethanol and distillers grains at multiple plants in the U.S. The Rail Group provides locomotive leasing, railcar repair and related maintenance services, and the Horticulture Group supplies turf, specialty and horticultural products to landscaping professionals and consumer lawn and garden retailers.

Founded in 1947 and headquartered in Maumee, Ohio, The Andersons has grown from a regional grain elevator operator into an integrated agribusiness platform.