Andersons (NASDAQ:ANDE) Price Target Cut to $28.00

Andersons (NASDAQ:ANDE) had its target price decreased by equities research analysts at BMO Capital Markets from $34.00 to $28.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The firm currently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 32.76% from the company’s previous close.

A number of other equities analysts have also commented on ANDE. BidaskClub upgraded shares of Andersons from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Buckingham Research reduced their price target on shares of Andersons to $23.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Stephens assumed coverage on shares of Andersons in a research report on Monday, October 7th. They issued an “equal weight” rating and a $21.00 price target on the stock. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $24.00.

ANDE traded down $0.14 during trading on Thursday, hitting $21.09. The stock had a trading volume of 217,000 shares, compared to its average volume of 168,810. The firm has a market cap of $637.66 million, a PE ratio of 12.94 and a beta of 1.18. Andersons has a 12 month low of $17.40 and a 12 month high of $38.23. The company has a current ratio of 1.36, a quick ratio of 0.78 and a debt-to-equity ratio of 1.03. The company has a 50 day simple moving average of $20.26 and a 200-day simple moving average of $25.36.

Andersons (NASDAQ:ANDE) last released its quarterly earnings results on Tuesday, November 5th. The basic materials company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.12). The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $2.10 billion. Andersons had a net margin of 0.49% and a return on equity of 5.25%. Andersons’s quarterly revenue was up 189.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.02 earnings per share. As a group, sell-side analysts anticipate that Andersons will post 0.65 earnings per share for the current fiscal year.

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Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Andersons by 5.7% during the second quarter. BlackRock Inc. now owns 4,177,682 shares of the basic materials company’s stock worth $113,801,000 after purchasing an additional 225,673 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Andersons by 2.0% during the second quarter. Vanguard Group Inc. now owns 3,350,320 shares of the basic materials company’s stock worth $91,263,000 after purchasing an additional 67,032 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Andersons by 2.5% during the second quarter. Victory Capital Management Inc. now owns 2,605,609 shares of the basic materials company’s stock worth $70,977,000 after purchasing an additional 64,150 shares in the last quarter. Northern Trust Corp lifted its position in shares of Andersons by 1.2% during the second quarter. Northern Trust Corp now owns 1,107,652 shares of the basic materials company’s stock worth $30,172,000 after purchasing an additional 13,427 shares in the last quarter. Finally, Deprince Race & Zollo Inc. lifted its position in shares of Andersons by 14.1% during the second quarter. Deprince Race & Zollo Inc. now owns 991,637 shares of the basic materials company’s stock worth $27,012,000 after purchasing an additional 122,490 shares in the last quarter. Institutional investors own 75.75% of the company’s stock.

Andersons Company Profile

The Andersons, Inc, an agriculture company, operates in the grain, ethanol, plant nutrient, and rail sectors in the United States and internationally. The company's Grain segment operates grain elevators; stores grains; and provides grain marketing, risk management, and corn origination services to its customers and affiliated ethanol facilities.

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