Astec Industries (NASDAQ:ASTE) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Astec Industries, Inc. (NASDAQ:ASTE)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $45.33 and traded as high as $48.85. Astec Industries shares last traded at $48.42, with a volume of 141,621 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Zacks Research raised Astec Industries to a “hold” rating in a research report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Astec Industries in a report on Monday, December 29th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, Astec Industries presently has a consensus rating of “Hold” and a consensus target price of $41.00.

Astec Industries Trading Up 1.6%

The company has a market cap of $1.11 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 2.06 and a beta of 1.44. The company has a current ratio of 2.58, a quick ratio of 1.01 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average of $46.20 and a two-hundred day moving average of $45.33.

Astec Industries (NASDAQ:ASTE) last posted its earnings results on Wednesday, November 5th. The industrial products company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.02. The firm had revenue of $350.10 million during the quarter, compared to the consensus estimate of $336.00 million. Astec Industries had a net margin of 3.50% and a return on equity of 11.93%.

Hedge Funds Weigh In On Astec Industries

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Astec Industries by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,513,520 shares of the industrial products company’s stock worth $120,976,000 after purchasing an additional 34,535 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Astec Industries by 1.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 818,031 shares of the industrial products company’s stock worth $39,372,000 after acquiring an additional 9,174 shares during the period. American Century Companies Inc. lifted its stake in Astec Industries by 24.5% in the 3rd quarter. American Century Companies Inc. now owns 672,030 shares of the industrial products company’s stock worth $32,345,000 after purchasing an additional 132,095 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Astec Industries by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 578,228 shares of the industrial products company’s stock valued at $24,109,000 after purchasing an additional 11,365 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Astec Industries by 3.1% in the third quarter. Invesco Ltd. now owns 510,171 shares of the industrial products company’s stock worth $24,555,000 after purchasing an additional 15,357 shares during the period. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

Astec Industries Company Profile

Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec’s product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.

Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.