Andersen Group (NYSE:ANDG) Hits New 12-Month High – Still a Buy?

Andersen Group Inc. (NYSE:ANDG)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $50.76 and last traded at $50.48, with a volume of 312760 shares changing hands. The stock had previously closed at $48.47.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ANDG shares. Truist Financial lifted their price target on Andersen Group from $32.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $41.00 target price on shares of Andersen Group in a report on Wednesday, May 13th. Weiss Ratings raised shares of Andersen Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Morgan Stanley raised their price objective on shares of Andersen Group from $24.00 to $27.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 13th. Finally, Wells Fargo & Company boosted their target price on shares of Andersen Group from $25.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $39.00.

Andersen Group Trading Up 3.6%

The firm has a market capitalization of $5.67 billion and a price-to-earnings ratio of 295.47. The company has a fifty day moving average price of $41.20 and a 200-day moving average price of $32.95. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 9.72.

Andersen Group (NYSE:ANDG) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The business had revenue of $240.75 million during the quarter. Andersen Group’s revenue for the quarter was up 15.7% compared to the same quarter last year. On average, equities research analysts predict that Andersen Group Inc. will post 0.73 EPS for the current year.

Insider Buying and Selling at Andersen Group

In other Andersen Group news, major shareholder Durable Capital Partners Lp sold 336,736 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total value of $13,472,807.36. Following the sale, the insider owned 1,333,749 shares of the company’s stock, valued at $53,363,297.49. The trade was a 20.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert V. Gunderson, Jr. purchased 2,367 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average cost of $35.82 per share, with a total value of $84,785.94. Following the transaction, the director directly owned 15,000 shares of the company’s stock, valued at approximately $537,300. This represents a 18.74% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 13.00% of the company’s stock.

Institutional Investors Weigh In On Andersen Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its position in shares of Andersen Group by 1.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 130,856 shares of the company’s stock worth $3,559,000 after purchasing an additional 1,267 shares in the last quarter. Wells Fargo & Company MN acquired a new stake in shares of Andersen Group in the fourth quarter valued at approximately $46,000. Bank of New York Mellon Corp increased its holdings in shares of Andersen Group by 47.0% in the first quarter. Bank of New York Mellon Corp now owns 18,636 shares of the company’s stock valued at $507,000 after purchasing an additional 5,962 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in Andersen Group in the 4th quarter worth approximately $215,000. Finally, Barclays PLC bought a new position in Andersen Group in the 4th quarter worth approximately $218,000.

About Andersen Group

Our mission is to deliver exceptional client service grounded in integrity, transparency, and excellence. Since our founding in 2002, we have experienced rapid and sustained growth, powered by our people, our values and our relentless commitment to innovative, client-focused solutions. Building on the rich traditions and culture of the former Arthur Andersen, we are driven by a bold vision to lead in a complex global marketplace, creating lasting value for our clients, our people and our investors.