Astec Industries (NASDAQ:ASTE) Price Target Raised to $41.00 at Robert W. Baird

Astec Industries (NASDAQ:ASTE - Get Free Report) had its target price upped by equities research analysts at Robert W. Baird from $40.00 to $41.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the industrial products company's stock. Robert W. Baird's price target indicates a potential upside of 18.05% from the stock's current price.

Separately, StockNews.com downgraded Astec Industries from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th.

Astec Industries Stock Down 2.4 %

NASDAQ ASTE traded down $0.85 during mid-day trading on Thursday, hitting $34.73. The company's stock had a trading volume of 320,577 shares, compared to its average volume of 198,108. The company has a current ratio of 2.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The company's 50 day simple moving average is $33.51 and its 200 day simple moving average is $33.72. Astec Industries has a twelve month low of $28.46 and a twelve month high of $44.74. The firm has a market capitalization of $791.98 million, a price-to-earnings ratio of -434.07 and a beta of 1.31.

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Astec Industries (NASDAQ:ASTE - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.46. Astec Industries had a negative net margin of 0.15% and a positive return on equity of 7.69%. The firm had revenue of $359.00 million during the quarter, compared to analysts' expectations of $374.10 million.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ASTE. Sterling Capital Management LLC increased its stake in Astec Industries by 802.5% in the 4th quarter. Sterling Capital Management LLC now owns 731 shares of the industrial products company's stock valued at $25,000 after buying an additional 650 shares during the last quarter. Tompkins Financial Corp bought a new position in shares of Astec Industries in the fourth quarter valued at approximately $34,000. R Squared Ltd purchased a new stake in shares of Astec Industries during the fourth quarter valued at approximately $42,000. Point72 Asset Management L.P. bought a new stake in Astec Industries during the third quarter worth $45,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Astec Industries in the third quarter worth $49,000. 93.16% of the stock is owned by institutional investors.

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.