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

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

Andersons Stock Down 3.0 %

Andersons stock opened at $47.05 on Wednesday. The firm has a 50 day simple moving average of $48.12 and a 200 day simple moving average of $49.80. The company has a current ratio of 1.98, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. Andersons has a 1-year low of $41.76 and a 1-year high of $61.46. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 13.44 and a beta of 0.60.

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

Hedge Funds Weigh In On Andersons

Several hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. boosted its holdings in Andersons by 8.8% in the 2nd quarter. Pacer Advisors Inc. now owns 3,737,703 shares of the basic materials company’s stock valued at $185,390,000 after purchasing an additional 303,711 shares during the period. American Century Companies Inc. boosted its stake in Andersons by 16.8% during the second quarter. American Century Companies Inc. now owns 933,968 shares of the basic materials company’s stock valued at $46,325,000 after buying an additional 134,126 shares during the period. Charles Schwab Investment Management Inc. grew its position in Andersons by 23.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 652,579 shares of the basic materials company’s stock worth $32,720,000 after buying an additional 124,468 shares in the last quarter. Squarepoint Ops LLC bought a new position in Andersons in the 2nd quarter worth about $2,311,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Andersons by 8.7% in the 2nd quarter. Victory Capital Management Inc. now owns 456,624 shares of the basic materials company’s stock valued at $22,649,000 after acquiring an additional 36,594 shares in the last quarter. Hedge funds and other 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.