Astec Industries, Inc. (ASTE) Receives Consensus Recommendation of “Buy” from Brokerages

Astec Industries, Inc. (NASDAQ:ASTE) has earned a consensus rating of “Buy” from the seven analysts that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $75.00.

A number of research analysts have recently commented on ASTE shares. Zacks Investment Research raised shares of Astec Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Robert W. Baird raised shares of Astec Industries from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $56.00 to $65.00 in a research report on Tuesday, October 3rd. TheStreet downgraded shares of Astec Industries from a “b” rating to a “c+” rating in a research report on Tuesday, October 24th. BidaskClub downgraded shares of Astec Industries from a “buy” rating to a “hold” rating in a research report on Saturday, December 2nd. Finally, William Blair raised shares of Astec Industries from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 2nd.

Astec Industries (ASTE) traded down $0.56 during midday trading on Tuesday, hitting $62.17. 168,600 shares of the stock were exchanged, compared to its average volume of 250,740. Astec Industries has a one year low of $45.70 and a one year high of $73.37. The firm has a market cap of $1,430.00, a P/E ratio of 36.79, a P/E/G ratio of 2.06 and a beta of 1.05.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings data on Tuesday, October 24th. The industrial products company reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.02). Astec Industries had a net margin of 3.27% and a return on equity of 5.89%. The company had revenue of $252.10 million for the quarter, compared to analyst estimates of $261.06 million. During the same period in the prior year, the company earned $0.30 EPS. The company’s revenue was up 1.7% compared to the same quarter last year. equities analysts expect that Astec Industries will post 1.61 earnings per share for the current fiscal 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. 79.93% of the stock is owned by hedge funds and other institutional investors.

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Astec Industries Company Profile

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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