Astec Industries (ASTE) Downgraded to “Hold” at BidaskClub

Astec Industries (NASDAQ:ASTE) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other research analysts have also weighed in on ASTE. Zacks Investment Research upgraded shares of Astec Industries from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Robert W. Baird upgraded shares of Astec Industries from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $56.00 to $65.00 in a report on Tuesday, October 3rd. Finally, TheStreet lowered shares of Astec Industries from a “b” rating to a “c+” rating in a report on Tuesday, October 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Astec Industries presently has an average rating of “Hold” and a consensus target price of $75.00.

Shares of Astec Industries (NASDAQ ASTE) traded up $0.13 during mid-day trading on Friday, hitting $55.50. 268,558 shares of the stock traded hands, compared to its average volume of 163,564. The stock has a market cap of $1,280.00, a price-to-earnings ratio of 32.96, a P/E/G ratio of 3.44 and a beta of 1.03. Astec Industries has a 1-year low of $45.70 and a 1-year high of $73.37.

Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings data on Tuesday, October 24th. The industrial products company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.02). The company had revenue of $252.10 million for the quarter, compared to analysts’ expectations of $261.06 million. Astec Industries had a return on equity of 5.89% and a net margin of 3.27%. The company’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.30 earnings per share. equities analysts expect that Astec Industries will post 1.61 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dean Investment Associates LLC increased its position in Astec Industries by 72.1% during the 3rd quarter. Dean Investment Associates LLC now owns 96,415 shares of the industrial products company’s stock worth $5,400,000 after purchasing an additional 40,395 shares in the last quarter. California Public Employees Retirement System increased its position in Astec Industries by 5.6% during the 3rd quarter. California Public Employees Retirement System now owns 29,998 shares of the industrial products company’s stock worth $1,680,000 after purchasing an additional 1,598 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in Astec Industries during the 3rd quarter worth approximately $305,000. Segall Bryant & Hamill LLC increased its position in Astec Industries by 45.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 106,844 shares of the industrial products company’s stock worth $5,984,000 after purchasing an additional 33,394 shares in the last quarter. Finally, Royce & Associates LP increased its position in Astec Industries by 51.1% during the 3rd quarter. Royce & Associates LP now owns 372,063 shares of the industrial products company’s stock worth $20,839,000 after purchasing an additional 125,900 shares in the last quarter. 79.62% of the stock is owned by hedge funds and other institutional investors.

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About Astec Industries

Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.

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