Astec Industries (ASTE) Rating Lowered to Hold at BidaskClub

Astec Industries (NASDAQ:ASTE) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

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

Astec Industries (ASTE) traded up $0.84 on Tuesday, reaching $54.69. 645,966 shares of the company’s stock were exchanged, compared to its average volume of 219,643. Astec Industries has a twelve month low of $45.70 and a twelve month high of $73.37. The stock has a market cap of $1,260.00, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 3.40 and a beta of 1.04.

Astec Industries (NASDAQ:ASTE) last released its earnings results on Tuesday, October 24th. The industrial products company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.02). Astec Industries had a return on equity of 5.89% and a net margin of 3.27%. The business had revenue of $252.10 million during the quarter, compared to analysts’ expectations of $261.06 million. During the same period last year, the business earned $0.30 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. equities research analysts expect that Astec Industries will post 1.61 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in ASTE. Teachers Advisors LLC raised its position in shares of Astec Industries by 10.5% during the 1st quarter. Teachers Advisors LLC now owns 35,179 shares of the industrial products company’s stock valued at $2,163,000 after buying an additional 3,345 shares during the period. Aperio Group LLC raised its position in shares of Astec Industries by 10.2% during the 2nd quarter. Aperio Group LLC now owns 6,068 shares of the industrial products company’s stock valued at $337,000 after buying an additional 560 shares during the period. Municipal Employees Retirement System of Michigan raised its position in shares of Astec Industries by 2.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 5,670 shares of the industrial products company’s stock valued at $315,000 after buying an additional 140 shares during the period. Great West Life Assurance Co. Can raised its position in shares of Astec Industries by 6.7% during the 2nd quarter. Great West Life Assurance Co. Can now owns 28,415 shares of the industrial products company’s stock valued at $1,575,000 after buying an additional 1,781 shares during the period. Finally, Texas Permanent School Fund raised its position in shares of Astec Industries by 0.9% during the 2nd quarter. Texas Permanent School Fund now owns 13,974 shares of the industrial products company’s stock valued at $776,000 after buying an additional 125 shares during the period. 79.95% of the stock is currently 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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