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Andersons (ANDE) Hits 52-Week High: What's Aiding Its Rally?
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The Andersons, Inc. (ANDE - Free Report) shares scaled a new 52-week high of $47.89 on Jul 03 before closing the session a tad lower at $47.87.
ANDE has a market capitalization of $1.6 billion. Its shares have gained 53.2% in the past year compared with the industry’s growth of 11.2%.
Image Source: Zacks Investment Research
What’s Driving Andersons?
Focus on Growth Opportunities: The company is continuing to execute its strategy in its core grain and fertilizer verticals, including a greater focus on renewables and opportunities in renewable diesel feedstocks.
It is making progress in several of its growth areas.
Upbeat 2023 Outlook: In the Trade segment, the company anticipates growth in the grain markets, with the potential for shifting fundamentals in 2023.
In the Renewables segment, ANDE expects the continuation of solid ethanol crush margins. It further anticipates the expansion of the renewable diesel feedstock business.
Andersons projects improved volumes on increased corn acres and improved market pricing for the Nutrient & Industrial segment.
The upbeat outlook instills investors’ confidence in the stock.
Focus on Maintaining Strong & Flexible Balance Sheet: Andersons is committed to keeping its balance sheet robust. The company has been delivering strong, consistent operating cash flows in dynamic markets.
Owing to the focus on working capital management, the company reduced its short-term debt year over year in the first quarter of 2023 and managed to keep the long-term debt-to-EBITDA ratio below 2.5X.
Strategic Actions: Andersons is collaborating with producers to develop commodities required by customers. The company also focuses on expanding its footprints.
ANDE has expanded its business into the Western Grain Belt and Canada.
Zacks Rank & Stocks to Consider
Andersons currently has a Zacks Rank #5 (Strong Sell).
L.B. Foster has an average trailing four-quarter earnings surprise of 140.5%. The Zacks Consensus Estimate for FSTR’s fiscal 2023 earnings is pegged at 53 cents per share. The consensus estimate for 2023 earnings has been unchanged in the past 60 days. Its shares gained 11% in the last year.
Orla Mining has an average trailing four-quarter earnings surprise of 85.4%. The Zacks Consensus Estimate for ORLA’s 2023 earnings is pegged at 15 cents per share. The consensus estimate for 2023 earnings has moved 87.5% north over the past 60 days. ORLA’s shares gained 48% in the last year.
The Zacks Consensus Estimate for Osisko Gold Royalties’ fiscal 2023 earnings per share is pegged at 47 cents. Earnings estimates have moved 6.8% north in the past 60 days. OR’s shares have gained 50.9% in the past year.
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Andersons (ANDE) Hits 52-Week High: What's Aiding Its Rally?
The Andersons, Inc. (ANDE - Free Report) shares scaled a new 52-week high of $47.89 on Jul 03 before closing the session a tad lower at $47.87.
ANDE has a market capitalization of $1.6 billion. Its shares have gained 53.2% in the past year compared with the industry’s growth of 11.2%.
Image Source: Zacks Investment Research
What’s Driving Andersons?
Focus on Growth Opportunities: The company is continuing to execute its strategy in its core grain and fertilizer verticals, including a greater focus on renewables and opportunities in renewable diesel feedstocks.
It is making progress in several of its growth areas.
Upbeat 2023 Outlook: In the Trade segment, the company anticipates growth in the grain markets, with the potential for shifting fundamentals in 2023.
In the Renewables segment, ANDE expects the continuation of solid ethanol crush margins. It further anticipates the expansion of the renewable diesel feedstock business.
Andersons projects improved volumes on increased corn acres and improved market pricing for the Nutrient & Industrial segment.
The upbeat outlook instills investors’ confidence in the stock.
Focus on Maintaining Strong & Flexible Balance Sheet: Andersons is committed to keeping its balance sheet robust. The company has been delivering strong, consistent operating cash flows in dynamic markets.
Owing to the focus on working capital management, the company reduced its short-term debt year over year in the first quarter of 2023 and managed to keep the long-term debt-to-EBITDA ratio below 2.5X.
Strategic Actions: Andersons is collaborating with producers to develop commodities required by customers. The company also focuses on expanding its footprints.
ANDE has expanded its business into the Western Grain Belt and Canada.
Zacks Rank & Stocks to Consider
Andersons currently has a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks from the basic materials space are L.B. Foster Company (FSTR - Free Report) , Orla Mining Ltd. (ORLA - Free Report) and Osisko Gold Royalties Ltd (OR - Free Report) . FSTR and ORLA flaunt a Zacks Rank #1 (Strong Buy) at present, and OR has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
L.B. Foster has an average trailing four-quarter earnings surprise of 140.5%. The Zacks Consensus Estimate for FSTR’s fiscal 2023 earnings is pegged at 53 cents per share. The consensus estimate for 2023 earnings has been unchanged in the past 60 days. Its shares gained 11% in the last year.
Orla Mining has an average trailing four-quarter earnings surprise of 85.4%. The Zacks Consensus Estimate for ORLA’s 2023 earnings is pegged at 15 cents per share. The consensus estimate for 2023 earnings has moved 87.5% north over the past 60 days. ORLA’s shares gained 48% in the last year.
The Zacks Consensus Estimate for Osisko Gold Royalties’ fiscal 2023 earnings per share is pegged at 47 cents. Earnings estimates have moved 6.8% north in the past 60 days. OR’s shares have gained 50.9% in the past year.