Andersons (NASDAQ:ANDE) Upgraded at StockNews.com

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

Andersons Price Performance

Andersons stock opened at $48.27 on Wednesday. The business’s 50-day simple moving average is $48.05 and its 200 day simple moving average is $49.70. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 13.79 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 quick ratio of 1.23, a current ratio of 1.98 and a debt-to-equity ratio of 0.36.

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

Hedge Funds Weigh In On Andersons

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its position in shares of Andersons by 2.2% during the first quarter. Russell Investments Group Ltd. now owns 10,834 shares of the basic materials company’s stock worth $622,000 after purchasing an additional 235 shares during the period. SummerHaven Investment Management LLC raised its position in shares of Andersons by 1.8% during the second quarter. SummerHaven Investment Management LLC now owns 16,116 shares of the basic materials company’s stock worth $799,000 after purchasing an additional 289 shares during the period. Creative Planning raised its position in shares of Andersons by 6.2% during the third quarter. Creative Planning now owns 5,261 shares of the basic materials company’s stock worth $264,000 after purchasing an additional 309 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Andersons by 2.6% during the second quarter. Louisiana State Employees Retirement System now owns 16,000 shares of the basic materials company’s stock worth $794,000 after purchasing an additional 400 shares during the period. Finally, Inspire Advisors LLC raised its position in shares of Andersons by 11.8% during the third quarter. Inspire Advisors LLC now owns 4,547 shares of the basic materials company’s stock worth $228,000 after purchasing an additional 480 shares during the period. Institutional investors own 87.06% of the company’s stock.

Andersons Company Profile

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.