Astec Industries (NASDAQ:ASTE) Lowered to Hold at BidaskClub

Astec Industries (NASDAQ:ASTE) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Wednesday, January 10th.

Several other equities analysts have also recently commented on ASTE. Zacks Investment Research raised shares of Astec Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Robert W. Baird raised shares of Astec Industries from a “neutral” rating to an “outperform” rating and raised their price target for the company from $56.00 to $65.00 in a research report on Tuesday, October 3rd. TheStreet lowered shares of Astec Industries from a “b” rating to a “c+” rating in a report on Tuesday, October 24th. Finally, William Blair upgraded shares of Astec Industries from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 2nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Astec Industries has a consensus rating of “Buy” and a consensus price target of $73.33.

Shares of Astec Industries (NASDAQ:ASTE) traded up $1.34 during mid-day trading on Wednesday, reaching $64.26. 123,781 shares of the company’s stock traded hands, compared to its average volume of 166,995. Astec Industries has a 52 week low of $45.70 and a 52 week high of $73.37. The stock has a market cap of $1,482.48, a PE ratio of 38.25, a PEG ratio of 2.06 and a beta of 1.06.

Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings results on Tuesday, October 24th. The industrial products company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $252.10 million during the quarter, compared to analysts’ expectations of $261.06 million. During the same period in the prior year, the business earned $0.30 EPS. The business’s quarterly revenue was up 1.7% on a year-over-year basis. analysts forecast that Astec Industries will post 1.61 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. raised its holdings in shares of Astec Industries by 4.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 150,612 shares of the industrial products company’s stock valued at $8,811,000 after purchasing an additional 6,202 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Astec Industries by 283.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 15,711 shares of the industrial products company’s stock valued at $919,000 after purchasing an additional 11,617 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Astec Industries by 6.2% in the 4th quarter. Bank of Montreal Can now owns 82,249 shares of the industrial products company’s stock valued at $4,812,000 after purchasing an additional 4,781 shares in the last quarter. National Investment Services Inc. WI acquired a new stake in Astec Industries during the 4th quarter worth $447,000. Finally, Dean Investment Associates LLC raised its stake 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 acquiring an additional 40,395 shares in the last quarter. Institutional investors and hedge funds own 79.93% of the company’s stock.

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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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