Zacks Investment Research downgraded shares of The Andersons, Inc. (ANDE) from OUTPERFORM to NEUTRAL on February 06, 2014, with a target price of $81.00.
Andersons reported third-quarter 2013 earnings of $0.91 per share, up 1% year over year. Revenues in the reported quarter rose 4% year over year to $1.18 billion. The Rail Group is expected to continue performing well, based on the proficiently managed railcar portfolio. Andersons is expected to benefit from the record corn crop that is currently being harvested and also from acquisitions of Thompsons Limited and Mile Rail. Further share repurchases and dividend hikes will also provide support to the stock. However, questions concerning the outlook of the domestic ethanol, significant decline in fertilizer volumes and higher expenses in the car business will affect results. We have thus downgraded our recommendation from Outperform to Neutral on Andersons with a target price of $81.00.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
To get a free copy of the research report on The Andersons, Inc. (ANDE),
click here.
For more information about research offerings from Zacks Investment Research, visit
Zacks.com .
Be the first to comment