Astec Industries (NASDAQ:ASTE) Upgraded by StockNews.com to "Buy" Rating

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

Separately, Robert W. Baird raised 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 Stock Down 0.2 %

Shares of ASTE stock traded down $0.06 during trading hours on Wednesday, reaching $32.60. The company had a trading volume of 71,585 shares, compared to its average volume of 87,137. The stock's fifty day simple moving average is $35.88 and its 200 day simple moving average is $33.22. The company has a market capitalization of $743.35 million, a P/E ratio of -407.45 and a beta of 1.31. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 2.47. Astec Industries has a twelve month low of $28.46 and a twelve month high of $44.74.

Astec Industries (NASDAQ:ASTE - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.31. The company had revenue of $291.40 million for the quarter, compared to analyst estimates of $312.90 million. Astec Industries had a negative net margin of 0.15% and a positive return on equity of 7.69%. The business's quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) earnings per share.

Institutional Trading of Astec Industries

Several institutional investors have recently added to or reduced their stakes in ASTE. GAMMA Investing LLC increased its position in shares of Astec Industries by 69.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company's stock worth $36,000 after purchasing an additional 458 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Astec Industries in the third quarter worth about $45,000. Wilmington Savings Fund Society FSB bought a new stake in Astec Industries in the third quarter valued at about $49,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Astec Industries during the third quarter valued at approximately $64,000. Finally, Point72 DIFC Ltd bought a new position in Astec Industries during the 3rd quarter worth approximately $69,000. 93.16% of the stock is owned by institutional investors and hedge funds.

About Astec Industries

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.

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