Astec Industries (ASTE) Upgraded to Buy at BidaskClub

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

Several other research analysts also recently commented on ASTE. Zacks Investment Research raised shares of Astec Industries from a “sell” rating to a “hold” rating in a report on Monday, December 31st. William Blair downgraded shares of Astec Industries from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 23rd. Stifel Nicolaus downgraded shares of Astec Industries from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, ValuEngine downgraded shares of Astec Industries from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus 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 stock had a trading volume of 190,867 shares, compared to its average volume of 323,283. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.02 and a quick ratio of 0.94. Astec Industries has a one year low of $27.86 and a one year high of $64.80. The company has a market cap of $837.35 million, a price-to-earnings ratio of 23.28 and a beta of 1.38.

Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $0.30 EPS 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 firm 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 earned ($0.12) earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities research analysts expect that Astec Industries will post 2.78 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of ASTE. BlackRock Inc. lifted its holdings in shares of Astec Industries by 17.1% during the 3rd quarter. BlackRock Inc. now owns 3,264,050 shares of the industrial products company’s stock worth $164,541,000 after acquiring an additional 477,601 shares during the last quarter. Investment Counselors of Maryland LLC bought a new stake in shares of Astec Industries during the 3rd quarter worth $5,662,000. Royce & Associates LP lifted its holdings in shares of Astec Industries by 23.7% during the 3rd quarter. Royce & Associates LP now owns 446,148 shares of the industrial products company’s stock worth $22,490,000 after acquiring an additional 85,500 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of Astec Industries during the 3rd quarter worth $3,828,000. Finally, Vanguard Group Inc lifted its holdings in shares of Astec Industries by 3.0% during the 3rd quarter. Vanguard Group Inc now owns 2,067,387 shares of the industrial products company’s stock worth $104,217,000 after acquiring an additional 59,836 shares during the last quarter. 93.46% of the stock is owned by 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.

Further Reading: Net Asset Value

Analyst Recommendations for Astec Industries (NASDAQ:ASTE)

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