The Andersons Inc. (NASDAQ:ANDE) was upgraded by Buckingham Research from a “neutral” rating to a “buy” rating in a research report issued on Monday. The firm currently has a $42.00 target price on the stock, up from their previous target price of $40.00. Buckingham Research’s price target would indicate a potential upside of 20.90% from the stock’s previous close.
The analysts wrote, “ANDE is committed to achieving $10M in annual run rate cost savings by 2017, but we think they will overachieve on that measure. On top of the Iowa divestiture, we estimate ANDE has the potential to add $0.30 to base EPS. ANDE remains committed to rationalizing further costs and non-strategic assets,” the analysts opined in their research note to clients.Following the challenges faced by Andersons in fiscal year 2015, analysts see conditions improved in the ECB “setting the stage for a more favorable harvest and more normalized basis opportunities.”
ANDE has been the subject of several other reports. Zacks Investment Research cut shares of The Andersons from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. Macquarie reaffirmed a “buy” rating and set a $42.00 price objective (up from $36.00) on shares of The Andersons in a research report on Monday, June 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $40.25.
Shares of The Andersons (NASDAQ:ANDE) traded up 0.35% during midday trading on Monday, hitting $34.86. 544,915 shares of the company were exchanged. The company’s market capitalization is $983.96 million. The company has a 50-day moving average of $36.21 and a 200 day moving average of $33.91. The Andersons has a one year low of $23.25 and a one year high of $38.74.
The Andersons (NASDAQ:ANDE) last released its earnings results on Wednesday, August 3rd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.58 by $0.07. The Andersons had a negative net margin of 1.19% and a positive return on equity of 0.45%. The firm earned $1.06 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the business posted $1.09 earnings per share. The Andersons’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, equities research analysts expect that The Andersons will post $0.96 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 24th. Shareholders of record on Monday, October 3rd will be given a dividend of $0.155 per share. The ex-dividend date is Thursday, September 29th. This represents a $0.62 dividend on an annualized basis and a yield of 1.78%. The Andersons’s dividend payout ratio (DPR) is -35.84%.
A number of institutional investors have recently added to or reduced their stakes in ANDE. Emerald Acquisition Ltd. acquired a new stake in shares of The Andersons during the second quarter worth about $22,446,000. Victory Capital Management Inc. boosted its stake in shares of The Andersons by 16.1% in the second quarter. Victory Capital Management Inc. now owns 1,624,255 shares of the company’s stock worth $57,726,000 after buying an additional 225,625 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of The Andersons during the second quarter worth about $7,165,000. Hillcrest Asset Management LLC acquired a new stake in shares of The Andersons during the first quarter worth about $4,612,000. Finally, Renaissance Technologies LLC boosted its stake in shares of The Andersons by 25.1% in the first quarter. Renaissance Technologies LLC now owns 500,376 shares of the company’s stock worth $15,717,000 after buying an additional 100,476 shares during the last quarter. 74.86% of the stock is owned by hedge funds and other institutional investors.
The Andersons Company Profile
The Andersons, Inc is a diversified company. The Company conducts business across North America in the grain, ethanol, plant nutrient and rail sectors. The Company also produces turf and cob products, and has a consumer retailing presence. The Company operates through five segments: Grain, Ethanol, Rail, Plant Nutrient and Retail.
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