Astec Industries (NASDAQ:ASTE) Downgraded to Hold at StockNews.com

Astec Industries (NASDAQ:ASTE) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Separately, Stifel Nicolaus lowered shares of Astec Industries from a “buy” rating to a “hold” rating and cut their price target for the stock from $47.00 to $37.00 in a report on Thursday.

Astec Industries Price Performance

Shares of ASTE stock traded down $0.78 during mid-day trading on Thursday, hitting $32.38. 459,410 shares of the stock were exchanged, compared to its average volume of 161,951. Astec Industries has a 52-week low of $28.97 and a 52-week high of $56.33. The company has a quick ratio of 0.88, a current ratio of 2.51 and a debt-to-equity ratio of 0.19. The company has a market cap of $736.32 million, a PE ratio of 29.71 and a beta of 1.40. The firm has a fifty day moving average of $41.33 and a 200 day moving average of $37.23.

Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.47). The business had revenue of $309.20 million during the quarter, compared to analyst estimates of $343.27 million. Astec Industries had a net margin of 1.91% and a return on equity of 7.44%. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 earnings per share. Research analysts anticipate that Astec Industries will post 2.9 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of Astec Industries by 32.0% during the first quarter. GAMMA Investing LLC now owns 1,646 shares of the industrial products company’s stock worth $72,000 after buying an additional 399 shares in the last quarter. Financial Engines Advisors L.L.C. grew its stake in Astec Industries by 8.2% during the 3rd quarter. Financial Engines Advisors L.L.C. now owns 5,749 shares of the industrial products company’s stock valued at $271,000 after acquiring an additional 436 shares in the last quarter. Hanson & Doremus Investment Management lifted its stake in Astec Industries by 15.9% in the 3rd quarter. Hanson & Doremus Investment Management now owns 4,363 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 600 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Astec Industries by 1.8% during the 3rd quarter. Swiss National Bank now owns 50,000 shares of the industrial products company’s stock worth $2,356,000 after purchasing an additional 900 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Astec Industries by 22.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 6,075 shares of the industrial products company’s stock valued at $226,000 after purchasing an additional 1,120 shares in the last quarter. Hedge funds and other institutional investors own 93.16% of the company’s stock.

Astec Industries Company Profile

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recovery units, paste back-fill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, industrial and asphalt burners and systems, custom batch plants, material transfer vehicles, soil stabilizing-reclaiming machinery, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and grinders, pump trailers, concrete batch plants, control systems, liquid terminals, storage equipment and related parts, construction and retrofits, polymer plants, and concrete mixers, as well as engineering and environmental permitting services.