Robert W. Baird Increases Astec Industries Price Target to $41.00 (ASTE)
Stock analysts at Robert W. Baird lifted their target price on shares of Astec Industries (NASDAQ:ASTE) from $35.00 to $41.00 in a report issued on Tuesday, American Banking News reports. Robert W. Baird’s price objective indicates a potential upside of 10.69% from the company’s current price.
Astec Industries (NASDAQ:ASTE) traded up 0.35% on Tuesday, hitting $37.04. The stock had a trading volume of 89,755 shares. Astec Industries has a one year low of $30.87 and a one year high of $39.01. The stock has a 50-day moving average of $36.48 and a 200-day moving average of $35.51. The company has a market cap of $846.5 million and a P/E ratio of 20.82.
Astec Industries (NASDAQ:ASTE) last announced its earnings results on Tuesday, October 22nd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by $0.09. The company had revenue of $213.20 million for the quarter, compared to the consensus estimate of $232.91 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Analysts expect that Astec Industries will post $1.65 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet upgraded shares of Astec Industries to a “buy” rating in a research note to investors on Friday, December 13th. Separately, analysts at Zacks downgraded shares of Astec Industries from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, November 22nd. They now have a $31.00 price target on the stock. Finally, analysts at William Blair cut their price target on shares of Astec Industries from $36.00 to $34.00 in a research note to investors on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $34.40.
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities.
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