BidaskClub Upgrades Astec Industries (ASTE) to Buy

Astec Industries (NASDAQ:ASTE) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday.

Other equities analysts have also recently issued research reports about the stock. ValuEngine cut shares of Astec Industries from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 23rd. Stifel Nicolaus cut shares of Astec Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Zacks Investment Research raised shares of Astec Industries from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. Finally, William Blair cut shares of Astec Industries from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Astec Industries presently has an average rating of “Hold” and an average target price of $62.00.

NASDAQ ASTE traded up $0.14 during trading hours on Thursday, hitting $36.79. The company’s stock had a trading volume of 190,867 shares, compared to its average volume of 323,283. Astec Industries has a 52 week low of $27.86 and a 52 week high of $64.80. The stock has a market cap of $837.35 million, a price-to-earnings ratio of 23.28 and a beta of 1.38. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.94 and a current ratio of 3.02.

Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.29). Astec Industries had a negative net margin of 0.21% and a positive return on equity of 9.06%. The business had revenue of $256.60 million during the quarter, compared to the consensus estimate of $276.80 million. During the same period in the previous year, the business posted ($0.12) EPS. Astec Industries’s revenue was up 1.8% compared to the same quarter last year. On average, sell-side analysts predict that Astec Industries will post 2.78 EPS for the current year.

Institutional investors have recently bought and sold shares of the business. Arizona State Retirement System lifted its position in shares of Astec Industries by 20.0% during the 3rd quarter. Arizona State Retirement System now owns 33,501 shares of the industrial products company’s stock worth $1,689,000 after buying an additional 5,593 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Astec Industries by 28.6% during the 2nd quarter. California Public Employees Retirement System now owns 45,745 shares of the industrial products company’s stock worth $2,736,000 after purchasing an additional 10,166 shares during the last quarter. Granite Investment Partners LLC increased its stake in shares of Astec Industries by 4.2% during the 3rd quarter. Granite Investment Partners LLC now owns 270,535 shares of the industrial products company’s stock worth $13,637,000 after purchasing an additional 10,902 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Astec Industries by 1,366.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 38,619 shares of the industrial products company’s stock worth $1,947,000 after purchasing an additional 35,985 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Astec Industries by 5.8% during the 3rd quarter. Wells Fargo & Company MN now owns 38,626 shares of the industrial products company’s stock worth $1,948,000 after purchasing an additional 2,111 shares during the last quarter. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

About Astec Industries

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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Analyst Recommendations for Astec Industries (NASDAQ:ASTE)

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