Astec Industries (NASDAQ:ASTE) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.
A number of other equities analysts have also recently weighed in on the stock. Robert W. Baird reaffirmed a “buy” rating and set a $64.00 price objective on shares of Astec Industries in a research report on Friday, April 13th. Stifel Nicolaus lowered their price objective on shares of Astec Industries from $67.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, April 25th. Finally, ValuEngine raised shares of Astec Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, May 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $67.25.
Shares of Astec Industries traded down $1.19, reaching $59.26, during mid-day trading on Thursday, MarketBeat Ratings reports. 116,100 shares of the company were exchanged, compared to its average volume of 137,710. The stock has a market capitalization of $1.41 billion, a P/E ratio of 37.51, a PEG ratio of 1.80 and a beta of 1.14. Astec Industries has a 1 year low of $45.70 and a 1 year high of $64.80.
Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings data on Tuesday, April 24th. The industrial products company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.01. The firm had revenue of $325.50 million during the quarter, compared to analysts’ expectations of $336.32 million. Astec Industries had a net margin of 3.60% and a return on equity of 6.09%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted $0.65 EPS. equities analysts predict that Astec Industries will post 3.39 earnings per share for the current year.
In other Astec Industries news, CEO Benjamin G. Brock sold 22,439 shares of the stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $54.71, for a total transaction of $1,227,637.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd acquired a new stake in Astec Industries during the 1st quarter worth approximately $219,000. Suntrust Banks Inc. lifted its holdings in Astec Industries by 186.2% during the 1st quarter. Suntrust Banks Inc. now owns 12,032 shares of the industrial products company’s stock worth $663,000 after buying an additional 7,828 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Astec Industries by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 146,780 shares of the industrial products company’s stock worth $8,099,000 after buying an additional 3,501 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new stake in Astec Industries during the 1st quarter worth approximately $257,000. Finally, Segall Bryant & Hamill LLC lifted its holdings in Astec Industries by 2.2% during the 1st quarter. Segall Bryant & Hamill LLC now owns 121,259 shares of the industrial products company’s stock worth $6,691,000 after buying an additional 2,575 shares in the last quarter. Institutional investors own 91.10% of the company’s stock.
Astec Industries Company Profile
Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company operates through Infrastructure Group, Aggregate and Mining Group, and Energy Group segments.
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