Andersons (NASDAQ:ANDE) Upgraded to Buy by StockNews.com

by · The Markets Daily

Andersons (NASDAQ:ANDE – Get Free Report) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Andersons Stock Performance

Shares of ANDE traded up $0.19 during mid-day trading on Thursday, hitting $46.51. 153,587 shares of the company’s stock were exchanged, compared to its average volume of 169,031. The company has a quick ratio of 1.44, a current ratio of 2.07 and a debt-to-equity ratio of 0.36. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 13.14 and a beta of 0.57. The stock’s 50-day simple moving average is $48.99 and its 200-day simple moving average is $50.93. Andersons has a 52 week low of $44.65 and a 52 week high of $61.46.

Andersons (NASDAQ:ANDE – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.04). The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $3.20 billion. Andersons had a return on equity of 6.99% and a net margin of 0.83%. Andersons’s revenue was down 30.5% on a year-over-year basis. During the same quarter last year, the business earned $1.52 EPS.

Hedge Funds Weigh In On Andersons

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its position in shares of Andersons by 13.1% during the 2nd quarter. Renaissance Technologies LLC now owns 159,576 shares of the basic materials company’s stock worth $7,915,000 after acquiring an additional 18,500 shares in the last quarter. Deerfield Management Company L.P. Series C bought a new position in shares of Andersons in the 2nd quarter valued at $1,040,000. Panagora Asset Management Inc. raised its holdings in shares of Andersons by 5.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 207,913 shares of the basic materials company’s stock worth $10,312,000 after buying an additional 10,222 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Andersons during the 1st quarter worth $443,000. Finally, UniSuper Management Pty Ltd bought a new stake in shares of Andersons during the 1st quarter worth $434,000. 87.06% of the stock is currently owned by institutional investors and hedge funds.

Andersons Company Profile

(Get Free Report)

The Andersons, Inc operates in trade, renewables, and nutrient and industrial sectors in the United States, Canada, Mexico, Egypt, Switzerland, and internationally. It operates through three segments: Trade, Renewables, and Nutrient & Industrial. The company’s Trade segment operates grain elevators; stores commodities; and provides grain marketing, risk management, and origination services, as well as sells commodities, such as corn, soybeans, wheat, oats, ethanol, and corn oil.

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