Astec Industries (NASDAQ:ASTE) Raised to Buy at StockNews.com

Astec Industries (NASDAQ:ASTE - Get Free Report) was upgraded by research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Wednesday.

Separately, Robert W. Baird lifted their target price on Astec Industries from $36.00 to $40.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th.

Astec Industries Price Performance

Astec Industries stock traded up $0.02 during midday trading on Wednesday, hitting $33.01. The company's stock had a trading volume of 80,346 shares, compared to its average volume of 217,625. The stock's 50-day moving average price is $34.12 and its 200-day moving average price is $33.64. The company has a quick ratio of 0.91, a current ratio of 2.47 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $752.63 million, a PE ratio of -412.57 and a beta of 1.31. Astec Industries has a 12 month low of $28.46 and a 12 month high of $44.74.

Institutional Investors Weigh In On Astec Industries

Large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its holdings in shares of Astec Industries by 3.7% during the second quarter. The Manufacturers Life Insurance Company now owns 8,912 shares of the industrial products company's stock worth $264,000 after buying an additional 315 shares during the last quarter. SG Americas Securities LLC bought a new stake in Astec Industries in the third quarter valued at $352,000. GAMMA Investing LLC grew its position in Astec Industries by 69.8% in the third quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company's stock valued at $36,000 after acquiring an additional 458 shares during the period. nVerses Capital LLC grew its position in Astec Industries by 425.0% in the third quarter. nVerses Capital LLC now owns 4,200 shares of the industrial products company's stock valued at $134,000 after acquiring an additional 3,400 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Astec Industries in the third quarter valued at $72,000. Institutional investors own 93.16% of the company's stock.

Astec Industries Company Profile

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recovery units, paste back-fill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, industrial and asphalt burners and systems, custom batch plants, material transfer vehicles, soil stabilizing-reclaiming machinery, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and grinders, pump trailers, concrete batch plants, control systems, liquid terminals, storage equipment and related parts, construction and retrofits, polymer plants, and concrete mixers, as well as engineering and environmental permitting services.