Astec Industries (NASDAQ:ASTE) Downgraded to Strong Sell Rating by Zacks Research

Astec Industries (NASDAQ:ASTE) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research firms have also recently commented on ASTE. Freedom Capital upgraded Astec Industries to a “strong-buy” rating in a research report on Wednesday, April 1st. Weiss Ratings cut Astec Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 7th. Longbow Research upgraded Astec Industries to a “strong-buy” rating in a research report on Monday, March 16th. Finally, Wall Street Zen cut Astec Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Two analysts have rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Astec Industries Stock Performance

NASDAQ:ASTE opened at $51.07 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.00 and a current ratio of 2.34. Astec Industries has a 52-week low of $36.43 and a 52-week high of $65.69. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 45.60, a PEG ratio of 1.27 and a beta of 1.47. The business’s fifty day moving average is $54.74 and its 200 day moving average is $51.54.

Astec Industries (NASDAQ:ASTE) last posted its earnings results on Wednesday, May 6th. The industrial products company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.34). Astec Industries had a return on equity of 10.09% and a net margin of 1.75%.The business had revenue of $396.30 million for the quarter, compared to analysts’ expectations of $393.24 million. Research analysts predict that Astec Industries will post 3.63 EPS for the current year.

Insider Activity

In other news, insider Edward Terrell Gilbert, Jr. sold 975 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $61.07, for a total value of $59,543.25. Following the completion of the transaction, the insider directly owned 8,828 shares in the company, valued at approximately $539,125.96. This represents a 9.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.99% of the company’s stock.

Institutional Investors Weigh In On Astec Industries

A number of hedge funds have recently made changes to their positions in ASTE. iSAM Funds UK Ltd purchased a new stake in shares of Astec Industries in the 3rd quarter valued at $50,000. Farther Finance Advisors LLC boosted its stake in shares of Astec Industries by 8,994.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,546 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 1,529 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Astec Industries by 412.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,212 shares of the industrial products company’s stock valued at $92,000 after purchasing an additional 1,780 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Astec Industries in the 4th quarter valued at $127,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Astec Industries in the 3rd quarter valued at $136,000. 93.16% of the stock is currently owned by institutional investors.

Astec Industries Company Profile

Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec’s product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.

Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.