Andersons Net Worth
Andersons Net Worth Breakdown | ANDE |
Andersons Net Worth Analysis
Andersons' net worth analysis, or its valuation, is the process of determining the total value of the company. This involves assessing a range of factors, including Andersons' financial performance, assets, liabilities, and potential for growth. The ultimate goal is to provide a clear understanding of Andersons' overall worth, which can help investors make informed investment decisions. There are several methods that can be used to perform Andersons' net worth analysis. One common approach is to calculate Andersons' market capitalization.Another approach is to use the price-to-earnings ratio (P/E ratio), which compares Andersons' stock price to its earnings per share (EPS). Discounted cash flow (DCF) analysis is another popular method for assessing Andersons' net worth. This approach calculates the present value of Andersons' future cash flows, taking into account factors such as growth rate, profitability, and risk. By comparing the present value of Andersons' cash flows to its current stock price, investors can gain a better understanding of the company's overall value. Finally, investors may use comparable company analysis to evaluate Andersons' net worth. This involves comparing Andersons' financial metrics to similar companies in the same industry. By identifying companies with similar financial characteristics, investors can gain insight into Andersons' net worth relative to its peers.
Enterprise Value |
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To determine if Andersons is a good investment, evaluating the company's potential for future growth is also very important. This may include expanding into new markets, launching new products or services, or improving operational efficiency. Companies with strong growth prospects can be more attractive investments. This aspect of the research should be conducted in the context of the overall market and industry in which the company operates and should include an analysis of growth potential, competitive landscape, and any regulatory or economic factors that could impact the business. Some of the essential points regarding Andersons' net worth research are outlined below:
Andersons is unlikely to experience financial distress in the next 2 years | |
Andersons has a strong financial position based on the latest SEC filings | |
Over 90.0% of the company shares are held by institutions such as insurance companies | |
On 23rd of January 2025 Andersons paid $ 0.195 per share dividend to its current shareholders | |
Latest headline from MacroaxisInsider: Disposition of 422 shares by Weston Heide of Andersons at 42.78 subject to Rule 16b-3 |
Andersons uses earnings reports to provide investors with an update of all three financial statements, including the income statement, the balance sheet, and the cash flow statement. Therefore, it is also crucial when considering investing in The Andersons. Every quarterly earnings report provides investors with an overview of sales, expenses, and net income for the most recent period. It also may provide a comparison to Andersons' previous reporting period. The quarterly earnings reports are usually disseminated to the public via Form 10-Q, which is a legal document filed with the Securities and Exchange Commission every quarter.
20th of February 2024 Upcoming Quarterly Report | View | |
7th of May 2024 Next Financial Report | View | |
31st of December 2023 Next Fiscal Quarter End | View | |
20th of February 2024 Next Fiscal Year End | View | |
30th of September 2023 Last Quarter Report | View | |
31st of December 2022 Last Financial Announcement | View |
Andersons Target Price Consensus
Andersons target price is determined by taking all analyst projections and averaging them out. There is no one specific way to measure analysts' performance other than comparing it to past results via a very sophisticated attribution analysis. Andersons' target price projections below should be used in combination with other traditional price prediction techniques such as stock price forecasting, investor sentiment analysis, technical analysis, earnings estimate, and various momentum models.
2 | Strong Buy |
Most Andersons analysts issue ratings four times a year, at intervals of three months. Ratings are usually accompanied by a target price to help potential investors understand Andersons stock's fair price compared to its market value. Analysts arrive at stock ratings after researching the public financial statements of Andersons, talking to its executives and customers, or listening to those companies' conference calls.
Macroaxis Advice Exposure ValuationAndersons Target Price Projection
Andersons' current and average target prices are 43.61 and 65.00, respectively. The current price of Andersons is the price at which The Andersons is currently trading. On the other hand, Andersons' target price is what analysts think the stock is worth or could sell for in the future. The more significant the discrepancy between the two prices, the more it stimulates investors to act.Target Price
Analyst Consensus On Andersons Target Price
Know Andersons' Top Institutional Investors
Have you ever been surprised when a price of an equity instrument such as Andersons is soaring high without any particular reason? This is usually happening because many institutional investors are aggressively trading The Andersons backward and forwards among themselves. Andersons' institutional investor refers to the entity that pools money to purchase Andersons' securities or originate loans. Institutional investors include commercial and private banks, credit unions, insurance companies, pension funds, hedge funds, endowments, and mutual funds. Operating companies that invest excess capital in these types of assets may also be included in the term and may influence corporate governance by exercising voting rights in their investments.
Shares | Ameriprise Financial Inc | 2024-12-31 | 463.5 K | Victory Capital Management Inc. | 2024-12-31 | 458.6 K | Jpmorgan Chase & Co | 2024-12-31 | 397.7 K | Morgan Stanley - Brokerage Accounts | 2024-12-31 | 387 K | Goldman Sachs Group Inc | 2024-12-31 | 353.4 K | Bank Of New York Mellon Corp | 2024-12-31 | 353.3 K | Venture Visionary Partners Llc | 2024-12-31 | 338.1 K | Bridgeway Capital Management, Llc | 2024-12-31 | 335.7 K | Jacobs Levy Equity Management, Inc. | 2024-12-31 | 323 K | Blackrock Inc | 2024-12-31 | 5.5 M | Vanguard Group Inc | 2024-12-31 | 4 M |
Follow Andersons' market capitalization trends
The company currently falls under 'Mid-Cap' category with a current market capitalization of 1.49 B.Market Cap |
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Project Andersons' profitablity
Last Reported | Projected for Next Year | ||
Return On Tangible Assets | 0.03 | 0.03 | |
Return On Capital Employed | 0.08 | 0.09 | |
Return On Assets | 0.03 | 0.03 | |
Return On Equity | 0.08 | 0.11 |
When accessing Andersons' net worth, it's important to look at multiple sources and consider different scenarios. For example, gross profit margin measures Andersons' profitability after accounting for the cost of goods sold, while net profit margin measures profitability after accounting for all expenses. Other important metrics include return on assets, return on equity, and free cash flow. By reviewing multiple sources and metrics, you can gain a complete picture of Andersons' profitability and make more informed investment decisions.
Please note, the presentation of Andersons' financial position, as portrayed in its financial statements, is often influenced by management's estimates, judgments, and sometimes even manipulations. In the best case, Andersons' management is honest, while the outside auditors are strict and uncompromising. Please utilize our Beneish M Score to check the likelihood of Andersons' management manipulating its earnings.
Evaluate Andersons' management efficiency
Andersons has return on total asset (ROA) of 0.0302 % which means that it generated a profit of $0.0302 on every $100 spent on assets. This is way below average. Similarly, it shows a return on stockholder's equity (ROE) of 0.1096 %, meaning that it created $0.1096 on every $100 dollars invested by stockholders. Andersons' management efficiency ratios could be used to measure how well Andersons manages its routine affairs as well as how well it operates its assets and liabilities. At present, Andersons' Return On Assets are projected to slightly decrease based on the last few years of reporting. The current year's Return On Equity is expected to grow to 0.11, whereas Return On Tangible Assets are forecasted to decline to 0.03. At present, Andersons' Total Current Assets are projected to increase significantly based on the last few years of reporting. The current year's Intangibles To Total Assets is expected to grow to 0.05, whereas Non Currrent Assets Other are forecasted to decline to about 69.1 M.Last Reported | Projected for Next Year | ||
Book Value Per Share | 47.01 | 49.36 | |
Tangible Book Value Per Share | 41.22 | 43.28 | |
Enterprise Value Over EBITDA | 2.91 | 2.77 | |
Price Book Value Ratio | 1.01 | 0.96 | |
Enterprise Value Multiple | 2.91 | 2.77 | |
Price Fair Value | 1.01 | 0.96 | |
Enterprise Value | 1.4 B | 1.5 B |
Management at Andersons focuses on leveraging technology and optimizing operations. We evaluate the impact of these focuses on the company's financial health and stock performance.
Enterprise Value Revenue 0.1552 | Revenue | Quarterly Revenue Growth (0.03) | Revenue Per Share | Return On Equity |
Some recent studies suggest that insider trading raises the cost of capital for securities issuers and decreases overall economic growth. Trading by specific Andersons insiders, such as employees or executives, is commonly permitted as long as it does not rely on Andersons' material information that is not in the public domain. Local jurisdictions usually require such trading to be reported in order to monitor insider transactions. In many U.S. states, trading conducted by corporate officers, key employees, directors, or significant shareholders must be reported to the regulator or publicly disclosed, usually within a few business days of the trade. In these cases Andersons insiders are required to file a Form 4 with the U.S. Securities and Exchange Commission (SEC) when buying or selling shares of their own companies.
Andersons Corporate Filings
12th of March 2025 Other Reports | ViewVerify | |
F4 | 4th of March 2025 The report filed by a party regarding the acquisition or disposition of a company's common stock, as well as derivative securities such as options, warrants, and convertible securities | ViewVerify |
10K | 19th of February 2025 Annual report required by the U.S. Securities and Exchange Commission (SEC) of a company financial performance | ViewVerify |
8K | 18th of February 2025 Report filed with the SEC to announce major events that shareholders should know about | ViewVerify |
Andersons Earnings Estimation Breakdown
The calculation of Andersons' earning per share is based on the data from the past 12 consecutive months, used for reporting the company's financial figures. The next projected EPS of Andersons is estimated to be 0.02 with the future projection ranging from a low of -0.21 to a high of 0.06. Please be aware that this consensus of annual earnings estimates for The Andersons is based on EPS before non-recurring items and includes expenses related to employee stock options.Last Reported EPS
-0.21 Lowest | Expected EPS | 0.06 Highest |
Andersons Earnings Projection Consensus
Suppose the current estimates of Andersons' value are higher than the current market price of the Andersons stock. In this case, investors may conclude that Andersons is overpriced and will exhibit bullish sentiment. On the other hand, if the present value is lower than the stock price, analysts may conclude that the market undervalues the equity. These scenarios may suggest that the market is not as efficient as it should be at the estimation time, and Andersons' stock will quickly adjusts to the new information provided by the consensus estimate.
Number of Analysts | Historical Accuracy | Last Reported EPS | Estimated EPS for 31st of March 2025 | Current EPS (TTM) | |
2 | 62.91% | 1.36 | 0.02 | 3.32 |
Andersons Earnings History
Earnings estimate consensus by Andersons analysts from Wall Street is used by the market to judge Andersons' stock performance. Investors also use these earnings estimates to evaluate and project the stock performance into the future in order to make their investment decisions. However, we recommend analyzing not only Andersons' upcoming profit reports and earnings-per-share forecasts but also comparing them to our different valuation methods.Andersons Quarterly Gross Profit |
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Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Andersons' price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Andersons Earnings per Share Projection vs Actual
Actual Earning per Share of Andersons refers to what the company shows during its earnings calls or quarterly reports. The Expected EPS is what analysts covering The Andersons predict the company's earnings will be in the future. The higher the earnings per share of Andersons, the better is its profitability. While calculating the Earning per Share, we use the weighted ratio, as the number of shares outstanding can change over time.Andersons Estimated Months Earnings per Share
For an investor who is primarily interested in generating an income out of investing in entities such as Andersons, the EPS ratio can tell if the company is intending to increase its current dividend. Although EPS is an essential tool for investors, it should not be used in isolation. EPS of Andersons should always be considered in relation to other companies to make a more educated investment decision.Andersons Quarterly Analyst Estimates and Surprise Metrics
Earnings surprises can significantly impact Andersons' stock price both in the short term and over time. Negative earnings surprises usually result in a price decline. However, it has been seen that positive earnings surprises lead to an immediate rise in a stock's price and a gradual increase over time. This is why we often hear news about some companies beating earning projections. Financial analysts spend a large amount of time predicting earnings per share (EPS) along with other important future indicators. Many analysts use forecasting models, management guidance, and additional fundamental information to derive an EPS estimate.
Reported | Fiscal Date | Estimated EPS | Reported EPS | Surprise | |||
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2025-02-18 | 2024-12-31 | 0.92 | 1.36 | 0.44 | 47 | ||
2024-11-04 | 2024-09-30 | 0.43 | 0.8 | 0.37 | 86 | ||
2024-08-06 | 2024-06-30 | 1.09 | 1.05 | -0.04 | 3 | ||
2024-05-07 | 2024-03-31 | 0.06 | 0.16 | 0.1 | 166 | ||
2024-02-20 | 2023-12-31 | 0.99 | 1.59 | 0.6 | 60 | ||
2023-11-07 | 2023-09-30 | 0.53 | 0.13 | -0.4 | 75 | ||
2023-08-01 | 2023-06-30 | 1.09 | 1.52 | 0.43 | 39 | ||
2023-05-02 | 2023-03-31 | 0.18 | 0.2 | 0.02 | 11 | ||
2023-02-14 | 2022-12-31 | 0.47 | 0.98 | 0.51 | 108 | ||
2022-11-01 | 2022-09-30 | 0.37 | 0.5 | 0.13 | 35 | ||
2022-08-02 | 2022-06-30 | 0.98 | 2.39 | 1.41 | 143 | ||
2022-05-03 | 2022-03-31 | 0.62 | 0.18 | -0.44 | 70 | ||
2022-02-15 | 2021-12-31 | 0.66 | 1.14 | 0.48 | 72 | ||
2021-11-02 | 2021-09-30 | -0.11 | 0.15 | 0.26 | 236 | ||
2021-08-03 | 2021-06-30 | 0.61 | 1.31 | 0.7 | 114 | ||
2021-05-04 | 2021-03-31 | 0.03 | 0.46 | 0.43 | 1433 | ||
2021-02-16 | 2020-12-31 | 0.55 | 0.59 | 0.04 | 7 | ||
2020-11-03 | 2020-09-30 | -0.12 | -0.07 | 0.05 | 41 | ||
2020-08-04 | 2020-06-30 | -0.28 | 0.88 | 1.16 | 414 | ||
2020-05-05 | 2020-03-31 | -0.26 | -1.32 | -1.06 | 407 | ||
2020-02-12 | 2019-12-31 | 0.5 | 0.55 | 0.05 | 10 | ||
2019-11-05 | 2019-09-30 | -0.14 | -0.07 | 0.07 | 50 | ||
2019-08-06 | 2019-06-30 | 0.52 | 0.98 | 0.46 | 88 | ||
2019-05-06 | 2019-03-31 | 0.17 | -0.16 | -0.33 | 194 | ||
2019-02-13 | 2018-12-31 | 0.76 | 0.84 | 0.08 | 10 | ||
2018-11-05 | 2018-09-30 | 0.14 | -0.07 | -0.21 | 150 | ||
2018-08-07 | 2018-06-30 | 0.86 | 0.92 | 0.06 | 6 | ||
2018-05-07 | 2018-03-31 | 0.07 | 0.05 | -0.02 | 28 | ||
2018-02-14 | 2017-12-31 | 0.42 | 0.62 | 0.2 | 47 | ||
2017-11-06 | 2017-09-30 | 0.16 | 0.09 | -0.07 | 43 | ||
2017-08-03 | 2017-06-30 | 0.69 | 0.66 | -0.03 | 4 | ||
2017-05-03 | 2017-03-31 | 0.14 | -0.11 | -0.25 | 178 | ||
2017-02-15 | 2016-12-31 | 0.63 | 0.36 | -0.27 | 42 | ||
2016-11-07 | 2016-09-30 | 0.18 | 0.06 | -0.12 | 66 | ||
2016-08-03 | 2016-06-30 | 0.58 | 0.51 | -0.07 | 12 | ||
2016-05-04 | 2016-03-31 | 0.03 | -0.52 | -0.55 | 1833 | ||
2016-02-10 | 2015-12-31 | 0.61 | 0.18 | -0.43 | 70 | ||
2015-11-04 | 2015-09-30 | 0.37 | -0.04 | -0.41 | 110 | ||
2015-08-05 | 2015-06-30 | 0.99 | 1.09 | 0.1 | 10 | ||
2015-05-05 | 2015-03-31 | 0.34 | 0.14 | -0.2 | 58 | ||
2015-02-10 | 2014-12-31 | 1.06 | 0.89 | -0.17 | 16 | ||
2014-11-05 | 2014-09-30 | 0.76 | 0.59 | -0.17 | 22 | ||
2014-08-06 | 2014-06-30 | 1.16 | 1.56 | 0.4 | 34 | ||
2014-05-07 | 2014-03-31 | 1.04 | 0.8 | -0.24 | 23 | ||
2014-02-11 | 2013-12-31 | 1.07 | 0.72 | -0.35 | 32 | ||
2013-11-06 | 2013-09-30 | 0.41 | 0.61 | 0.2 | 48 | ||
2013-08-06 | 2013-06-30 | 1.03 | 1.05 | 0.02 | 1 | ||
2013-05-07 | 2013-03-31 | 0.58 | 0.45 | -0.13 | 22 | ||
2013-02-06 | 2012-12-31 | 0.59 | 0.53 | -0.06 | 10 | ||
2012-11-05 | 2012-09-30 | 0.18 | 0.6 | 0.42 | 233 | ||
2012-08-02 | 2012-06-30 | 1.09 | 1.04 | -0.05 | 4 | ||
2012-05-07 | 2012-03-31 | 0.58 | 0.65 | 0.07 | 12 | ||
2012-02-08 | 2011-12-31 | 0.65 | 0.78 | 0.13 | 20 | ||
2011-11-08 | 2011-09-30 | 0.11 | 0.39 | 0.28 | 254 | ||
2011-08-03 | 2011-06-30 | 1.14 | 1.61 | 0.47 | 41 | ||
2011-05-04 | 2011-03-31 | 0.51 | 0.62 | 0.11 | 21 | ||
2011-02-08 | 2010-12-31 | 0.58 | 0.93 | 0.35 | 60 | ||
2010-11-03 | 2010-09-30 | 0.12 | 0.05 | -0.07 | 58 | ||
2010-08-04 | 2010-06-30 | 0.78 | 0.91 | 0.13 | 16 | ||
2010-05-03 | 2010-03-31 | 0.33 | 0.44 | 0.11 | 33 | ||
2010-02-08 | 2009-12-31 | 0.29 | 0.59 | 0.3 | 103 | ||
2009-11-04 | 2009-09-30 | 0.25 | 0.05 | -0.2 | 80 | ||
2009-08-05 | 2009-06-30 | 0.65 | 0.58 | -0.07 | 10 | ||
2009-05-06 | 2009-03-31 | -0.04 | 0.18 | 0.22 | 550 | ||
2009-02-05 | 2008-12-31 | -0.82 | -1.23 | -0.41 | 50 | ||
2008-11-04 | 2008-09-30 | 0.43 | 0.47 | 0.04 | 9 | ||
2008-08-06 | 2008-06-30 | 1.46 | 1.65 | 0.19 | 13 | ||
2008-05-07 | 2008-03-31 | 0.39 | 0.28 | -0.11 | 28 | ||
2008-02-06 | 2007-12-31 | 0.73 | 0.85 | 0.12 | 16 | ||
2007-10-31 | 2007-09-30 | 0.33 | 0.39 | 0.06 | 18 | ||
2007-08-01 | 2007-06-30 | 0.61 | 0.93 | 0.32 | 52 | ||
2007-05-02 | 2007-03-31 | 0.22 | 0.34 | 0.12 | 54 | ||
2007-02-08 | 2006-12-31 | 0.45 | 0.51 | 0.06 | 13 | ||
2006-11-01 | 2006-09-30 | 0.03 | 0.34 | 0.31 | 1033 | ||
2006-07-28 | 2006-06-30 | 0.47 | 0.44 | -0.03 | 6 | ||
2006-05-03 | 2006-03-31 | 0.09 | 0.16 | 0.07 | 77 | ||
2006-02-08 | 2005-12-31 | 0.51 | 0.66 | 0.15 | 29 | ||
2005-11-02 | 2005-09-30 | 0.01 | -0.0285 | -0.0385 | 385 | ||
2002-02-04 | 2001-12-31 | 0.09 | 0.2 | 0.11 | 122 | ||
2001-10-24 | 2001-09-30 | -0.1 | -0.09 | 0.01 | 10 | ||
2001-07-25 | 2001-06-30 | 0.28 | 0.33 | 0.05 | 17 | ||
2001-01-31 | 2000-12-31 | 0.13 | 0.17 | 0.04 | 30 | ||
2000-10-25 | 2000-09-30 | -0.12 | -0.1 | 0.02 | 16 | ||
2000-07-26 | 2000-06-30 | 0.31 | 0.3 | -0.01 | 3 | ||
2000-04-27 | 2000-03-31 | -0.03 | 0.03 | 0.06 | 200 | ||
2000-02-02 | 1999-12-31 | 0.13 | 0.14 | 0.01 | 7 | ||
1999-10-27 | 1999-09-30 | -0.1 | -0.11 | -0.01 | 10 | ||
1999-07-28 | 1999-06-30 | 0.28 | 0.3 | 0.02 | 7 | ||
1999-04-28 | 1999-03-31 | -0.02 | 0.0018 | 0.0218 | 109 | ||
1999-02-03 | 1998-12-31 | 0.19 | 0.21 | 0.02 | 10 | ||
1998-10-28 | 1998-09-30 | -0.05 | -0.04 | 0.01 | 20 | ||
1998-07-29 | 1998-06-30 | 0.25 | 0.27 | 0.02 | 8 | ||
1998-04-29 | 1998-03-31 | -0.01 | -0.03 | -0.02 | 200 | ||
1997-05-05 | 1997-03-31 | -0.13 | -0.16 | -0.03 | 23 | ||
1997-02-10 | 1996-12-31 | 0.26 | 0.22 | -0.04 | 15 | ||
1996-11-07 | 1996-09-30 | -0.07 | -0.07 | 0.0 | 0 | ||
1996-08-08 | 1996-06-30 | 0.06 | 0.05 | -0.01 | 16 |
Andersons Corporate Management
Christine Castellano | General VP | Profile | |
Michael Hoelter | Corporate Controller | Profile | |
Sarah Zibbel | Executive Officer | Profile | |
William Krueger | Pres Processing | Profile | |
Anne Rex | Planning Strategy | Profile |
Already Invested in The Andersons?
The danger of trading The Andersons is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Andersons is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Andersons. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Andersons is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Andersons is a strong investment it is important to analyze Andersons' competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Andersons' future performance. For an informed investment choice regarding Andersons Stock, refer to the following important reports: Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in The Andersons. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment. You can also try the Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
Is Consumer Staples Distribution & Retail space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Andersons. If investors know Andersons will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Andersons listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.12) | Dividend Share 0.76 | Earnings Share 3.32 | Revenue Per Share | Quarterly Revenue Growth (0.03) |
The market value of Andersons is measured differently than its book value, which is the value of Andersons that is recorded on the company's balance sheet. Investors also form their own opinion of Andersons' value that differs from its market value or its book value, called intrinsic value, which is Andersons' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Andersons' market value can be influenced by many factors that don't directly affect Andersons' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Andersons' value and its price as these two are different measures arrived at by different means. Investors typically determine if Andersons is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Andersons' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.