Zacks Investment Research upgraded shares of The Andersons Inc. (NASDAQ:ANDE) from a hold rating to a buy rating in a research report report published on Tuesday. They currently have $39.00 price target on the stock.
According to Zacks, “Andersons expects the second half to greatly improve from the first half and believes it will post earnings per share above the current consensus level of $0.81 per share for 2016. The company is positioned to deliver over $10 million in run rate cost reductions by the end of 2017. Additionally, rising estimates for preharvest inventory levels, combined with a quality harvest, will create income opportunities for Andersons’ Grain group late this year and into 2017. Its outlook also remains strong on wheat, corn and soybean crops trending favorable. Strength in margins return for the ethanol business will also drive the company's growth.”
Several other research analysts also recently issued reports on the company. Buckingham Research raised The Andersons from a neutral rating to a buy rating and upped their price objective for the stock from $40.00 to $42.00 in a report on Monday. Macquarie reissued a buy rating and issued a $42.00 price target (up previously from $36.00) on shares of The Andersons in a research note on Monday, June 6th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $39.75.
The Andersons (NASDAQ:ANDE) traded down 0.74% during trading on Tuesday, reaching $34.75. The company’s stock had a trading volume of 8,271 shares. The company’s market capitalization is $980.85 million. The company’s 50-day moving average is $36.06 and its 200-day moving average is $34.04. The Andersons has a 1-year low of $23.25 and a 1-year high of $38.74.
The Andersons (NASDAQ:ANDE) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by $0.07. The Andersons had a positive return on equity of 0.45% and a negative net margin of 1.19%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the company posted $1.09 EPS. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. Equities analysts anticipate that The Andersons will post $1.00 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 24th. Investors of record on Monday, October 3rd will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.77%. The ex-dividend date is Thursday, September 29th. The Andersons’s payout ratio is presently -35.84%.
Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of The Andersons by 2.2% in the second quarter. Vanguard Group Inc. now owns 2,317,697 shares of the company’s stock valued at $82,371,000 after buying an additional 49,277 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of The Andersons by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,015,475 shares of the company’s stock valued at $71,629,000 after buying an additional 79,149 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of The Andersons by 1.9% in the second quarter. BlackRock Fund Advisors now owns 1,722,640 shares of the company’s stock valued at $61,223,000 after buying an additional 32,500 shares during the last quarter. Victory Capital Management Inc. increased 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 valued at $57,726,000 after buying an additional 225,625 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of The Andersons by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 674,713 shares of the company’s stock valued at $21,193,000 after buying an additional 9,676 shares during the last quarter. 74.86% of the stock is currently owned by institutional investors and hedge funds.
About The Andersons
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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