Astec Industries Inc. (ASTE) Receives Average Recommendation of “Hold” from Analysts
Astec Industries Inc. (NASDAQ:ASTE) has been assigned an average rating of “Hold” from the nine research firms that are currently covering the company. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $53.17.
ASTE has been the topic of several recent research reports. Seaport Global Securities downgraded Astec Industries from an “accumulate” rating to a “neutral” rating and set a $52.00 price objective on the stock. in a research report on Wednesday, July 6th. BB&T Corp. reiterated a “hold” rating on shares of Astec Industries in a research report on Tuesday, July 12th. Zacks Investment Research downgraded Astec Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 15th. Robert W. Baird downgraded Astec Industries from an “outperform” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research report on Tuesday, July 19th. They noted that the move was a valuation call. Finally, Stifel Nicolaus increased their target price on Astec Industries from $63.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, July 27th.
In other news, CFO David C. Silvious sold 1,076 shares of the stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $59.98, for a total value of $64,538.48. Following the completion of the sale, the chief financial officer now owns 1,070 shares in the company, valued at $64,178.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Stephen C. Anderson sold 1,070 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $60.59, for a total value of $64,831.30. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.
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Several large investors have recently bought and sold shares of ASTE. PineBridge Investments L.P. raised its stake in Astec Industries by 4.6% in the second quarter. PineBridge Investments L.P. now owns 2,396 shares of the company’s stock worth $134,000 after buying an additional 105 shares during the period. Teacher Retirement System of Texas raised its stake in Astec Industries by 14.1% in the second quarter. Teacher Retirement System of Texas now owns 2,727 shares of the company’s stock worth $153,000 after buying an additional 336 shares during the period. BlackRock Inc. raised its stake in Astec Industries by 153.9% in the second quarter. BlackRock Inc. now owns 3,263 shares of the company’s stock worth $183,000 after buying an additional 1,978 shares during the period. Mason Street Advisors LLC bought a new stake in Astec Industries during the second quarter worth about $207,000. Finally, AQR Capital Management LLC bought a new stake in Astec Industries during the second quarter worth about $223,000. Institutional investors and hedge funds own 79.16% of the company’s stock.
Astec Industries (NASDAQ:ASTE) traded up 0.31% on Thursday, hitting $58.51. The stock had a trading volume of 68,106 shares. Astec Industries has a one year low of $30.76 and a one year high of $62.75. The stock’s 50 day moving average is $58.24 and its 200 day moving average is $54.45. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 32.33 and a beta of 1.26.
Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.04. Astec Industries had a return on equity of 6.72% and a net margin of 4.18%. The business had revenue of $294.40 million for the quarter, compared to the consensus estimate of $283.44 million. During the same period in the prior year, the business earned $0.51 earnings per share. The business’s revenue was up 11.5% on a year-over-year basis. Analysts anticipate that Astec Industries will post $2.40 earnings per share for the current year.
Astec Industries Company Profile
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. The Company’s products are used in each phase of road building, from quarrying and crushing the aggregate to application of the road surface.
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