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ANDE

Andersons

$34.11

-0.56 (-1.62%)

16:03
10/15/18
10/15
16:03
10/15/18
16:03

Andersons to acquire Lansing equity for $305M

The Andersons announced that it has entered into a merger agreement with Lansing Trade Group, its long-time affiliate, to acquire the 67.5% of Lansing equity that it does not already own for cash and stock currently valued at a total of approximately $305M. In addition to paying approximately $175M in cash, the Company will issue unregistered shares to current Lansing equity holders presently valued at approximately $130M subject to certain closing adjustments and changes in the share price of Andersons stock, respectively. The transaction will also result in the consolidation of Thompsons Limited of Ontario, Canada and related entities as they have been jointly owned by Lansing and the Company. The Company will assume approximately $166M of long-term debt, consisting of up to $130M from Lansing and about $36M from Thompsons. The implied purchase price is less than 9 times EBITDA for the twelve months ended August 31. The Company expects the transaction to be accretive to EPS within the first full year after closing and to achieve annual run rate cost synergies of at least $10M by year-end 2020. The transaction is expected to close before January 31, 2019, subject to Lansing shareholder approval and customary government and regulatory approvals.

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  • 13

    Nov

ANDE Andersons
$34.11

-0.56 (-1.62%)

08/08/18
08/08/18
UPGRADE
Target $44

Overweight
Stephens upgrades Andersons to Overweight on better wheat, fertilizer conditions
As previously reported, Stephens analyst Farha Aslam upgraded Andersons to Overweight from Equal Weight, citing her view that the company is well positioned to benefit from tight global supplies of wheat given global trade disruptions. She also contends that fertilizer earnings should benefit from rising prices. Aslam raised her price target on Andersons shares to $44 from $40.
08/08/18
SPHN
08/08/18
UPGRADE
SPHN
Overweight
Andersons upgraded to Overweight from Equal Weight at Stephens
02/16/18
BMOC
02/16/18
NO CHANGE
Target $38
BMOC
Market Perform
Andersons price target raised to $38 from $34 at BMO Capital
BMO Capital analyst Kenneth Zaslow raised his price target on Andersons after a Q4 earnings beat that reflected a rebound in grain and ethanol performance. The outlook for FY18 is also positive on improving grain business from recovery in Lansing and better ethanol, though accounting changes and higher tank car expenses are set to pressure rail, the analyst contends. Zaslow keeps his Market Perform rating on Andersons while the company undergoes an "operational evolution".
11/08/17
11/08/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Snap (SNAP) was downgraded to Underweight from Neutral at JPMorgan, to Sector Perform from Outperform at RBC Capital, and to Hold from Buy at Stifel. 2. Mallinckrodt (MNK) was downgraded to Neutral from Buy at Goldman Sachs, to Equal Weight from Overweight at Barclays, and to Market Perform from Outperform at Wells Fargo. 3. Scotts Miracle-Gro (SMG) downgraded to Neutral from Overweight at JPMorgan with analyst Jeffrey Zekauskas saying he finds the shares fairly valued at current levels. 4. Andersons (ANDE) downgraded to Neutral from Buy at Buckingham with analyst Eric Larson citing the weaker than expected third quarter report and guidance. 5. Townsquare Media (TSQ) downgraded to Equal Weight from Overweight at Stephens with analyst Kyle Evans saying the Local Marketing Services business appears healthy but he is unwilling to wait another year for signs of improvement in its struggling Entertainment business. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

BA

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EYE

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CI

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COP

ConocoPhillips

$53.99

-0.55 (-1.01%)

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AMZN

Amazon.com

$1,757.77

-30.07 (-1.68%)

, NFLX

Netflix

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CMCSA

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$38.46

0.64 (1.69%)

DIS

Disney

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AKS

AK Steel

$2.45

0.055 (2.30%)

, MT

ArcelorMittal

$14.58

0.03 (0.21%)

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AKS

AK Steel

$2.45

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MT

ArcelorMittal

$14.58

0.03 (0.21%)

NUE

Nucor

$51.69

-0.11 (-0.21%)

STLD

Steel Dynamics

$28.71

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TMST

TimkenSteel

$5.42

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X

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GM

General Motors

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AAVMY

ABN Amro

$0.00

(0.00%)

, BBVA

Banco Bilbao

$5.38

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BBVA

Banco Bilbao

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BCS

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BLK

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BNPQY

BNP Paribas

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C

Citi

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0.16 (0.23%)

CAIXY

CaixaBank

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CIB

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CS

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EV

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GS

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HSBC

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JPM

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MA

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MS

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NYT

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RBS

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RY

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SMFG

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SPGI

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$63.40

3.69 (6.18%)

UBS

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V

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ZURVY

Zurich Insurance

$0.00

(0.00%)

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STT

State Street

$63.40

3.69 (6.18%)

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Upgrade
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  • 18

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SUN

Sunoco

$32.43

0.32 (1.00%)

19:53
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Upgrade
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TLF

Tandy Leather

$4.61

(0.00%)

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Tandy Leather CFO Castillo to step down »

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TLF

Tandy Leather

$4.61

(0.00%)

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AAPL

Apple

$236.29

0.99 (0.42%)

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  • 30

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JPM

JPMorgan

$120.60

0.21 (0.17%)

, FB

Facebook

$185.96

-4.435 (-2.33%)

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JPM

JPMorgan

$120.60

0.21 (0.17%)

FB

Facebook

$185.96

-4.435 (-2.33%)

PYPL

PayPal

$101.25

-2.38 (-2.30%)

MA

MasterCard

$270.90

-5.74 (-2.07%)

V

Visa

$175.83

-2.11 (-1.19%)

EBAY

eBay

$38.82

-0.31 (-0.79%)

BKNG

Booking Holdings

$2,012.20

-16.43 (-0.81%)

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GLD

SPDR Gold Shares

$140.47

-0.13 (-0.09%)

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SPDR Gold Shares holdings rise to 924.64MT from 918.19MT »

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TECK

Teck Resources

$16.48

0.11 (0.67%)

17:43
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Hot Stocks
Teck Resources gets approval for stock buyback for up to 40M class B shares »

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  • 24

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OSK

Oshkosh

$77.22

0.46 (0.60%)

17:41
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Oshkosh awarded $159.14M Army contract for medium tactical vehicle production »

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OVLY

Oak Valley Bancorp

$16.40

-0.16 (-0.97%)

17:35
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Earnings
Oak Valley Bancorp reports Q3 EPS 40c vs. 37c last year »

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FTNW

FTE Networks

$0.79

-0.0185 (-2.29%)

17:21
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Hot Stocks
FTE Networks receives noncompliance notice from NYSE American »

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TNXP

Tonix Pharmaceuticals

$0.45

0.0048 (1.07%)

17:12
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Breaking Syndicate news story on Tonix Pharmaceuticals »

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RLMD

Relmada Therapeutics

$20.18

1.07 (5.60%)

17:10
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Syndicate
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16:55
10/18/19
10/18
16:55
10/18/19
16:55
General news
Breaking General news story  »

Dallas Federal Reserve…

NWSA

News Corp.

$13.48

-0.19 (-1.39%)

, NWS

News Corp

$13.79

-0.11 (-0.79%)

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Periodicals
Facebook reaches pact with News Corp., others for news section, WSJ says »

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NWSA

News Corp.

$13.48

-0.19 (-1.39%)

NWS

News Corp

$13.79

-0.11 (-0.79%)

FB

Facebook

$185.96

-4.435 (-2.33%)

NYT

New York Times

$29.76

0.21 (0.71%)

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WAIR

Wesco Aircraft

$11.01

0.01 (0.09%)

16:46
10/18/19
10/18
16:46
10/18/19
16:46
Conference/Events
Wesco Aircraft to host special shareholder meeting »

Special Shareholder…

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  • 24

    Oct

FOMX

Foamix

$3.15

-0.09 (-2.78%)

16:41
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10/18
16:41
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16:41
Hot Stocks
Breaking Hot Stocks news story on Foamix »

Foamix up 7.5% at $3.35…

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