Andersons (NASDAQ:ANDE) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Andersons (NASDAQ:ANDE) from a hold rating to a buy rating in a report issued on Wednesday.

Andersons Price Performance

NASDAQ ANDE opened at $46.86 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.98 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $1.60 billion, a PE ratio of 13.39 and a beta of 0.60. Andersons has a 12-month low of $41.76 and a 12-month high of $61.46. The company has a 50 day moving average price of $48.08 and a two-hundred day moving average price of $49.78.

Andersons (NASDAQ:ANDE) last released its quarterly earnings data on Monday, November 4th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.37. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.90 billion. Andersons had a net margin of 1.06% and a return on equity of 8.21%. Andersons’s quarterly revenue was down 27.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 EPS.

Institutional Inflows and Outflows

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

About Andersons

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.