Andersons (NASDAQ:ANDE) Stock Rating Upgraded by StockNews.com

Andersons (NASDAQ:ANDE) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Andersons Price Performance

NASDAQ ANDE opened at $47.04 on Wednesday. The firm’s fifty day simple moving average is $48.04 and its two-hundred day simple moving average is $49.76. The company has a current ratio of 1.98, a quick ratio of 1.23 and a debt-to-equity ratio of 0.36. Andersons has a 12-month low of $41.76 and a 12-month high of $61.46. The firm has a market capitalization of $1.60 billion, a P/E ratio of 13.44 and a beta of 0.60.

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

Institutional Investors Weigh In On Andersons

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its stake in shares of Andersons by 13.1% during the second quarter. Renaissance Technologies LLC now owns 159,576 shares of the basic materials company’s stock worth $7,915,000 after buying an additional 18,500 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in shares of Andersons during the second quarter worth $1,040,000. Panagora Asset Management Inc. lifted its stake in shares of Andersons by 5.2% during the second 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 during the period. Jupiter Asset Management Ltd. acquired a new stake in shares of Andersons during the first quarter worth $443,000. Finally, UniSuper Management Pty Ltd acquired a new stake in shares of Andersons during the first quarter worth $434,000. 87.06% of the stock is currently owned by institutional investors and hedge funds.

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.