StockNews.com Upgrades Astec Industries (NASDAQ:ASTE) to "Strong-Buy"

Astec Industries (NASDAQ:ASTE - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "strong-buy" rating in a report released on Friday.

Separately, Robert W. Baird lifted their price objective on shares of Astec Industries from $40.00 to $41.00 and gave the company a "neutral" rating in a research note on Thursday.

Astec Industries Price Performance

Shares of ASTE traded down $0.94 during trading hours on Friday, hitting $34.64. 104,006 shares of the company were exchanged, compared to its average volume of 194,245. The company has a quick ratio of 0.91, a current ratio of 2.47 and a debt-to-equity ratio of 0.16. Astec Industries has a fifty-two week low of $28.46 and a fifty-two week high of $44.74. The company has a market cap of $789.84 million, a price-to-earnings ratio of -434.06 and a beta of 1.31. The firm's fifty day moving average is $33.51 and its 200 day moving average is $33.72.

Astec Industries (NASDAQ:ASTE - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $374.10 million.

Remove Ads

Institutional Investors Weigh In On Astec Industries

A number of hedge funds have recently made changes to their positions in ASTE. Harvey Partners LLC lifted its stake in Astec Industries by 101.4% in the 3rd quarter. Harvey Partners LLC now owns 282,000 shares of the industrial products company's stock valued at $9,007,000 after purchasing an additional 142,000 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Astec Industries by 184.4% during the fourth quarter. American Century Companies Inc. now owns 181,772 shares of the industrial products company's stock worth $6,108,000 after buying an additional 117,858 shares in the last quarter. Norges Bank bought a new position in shares of Astec Industries in the 4th quarter valued at $3,612,000. Mill Road Capital Management LLC acquired a new stake in shares of Astec Industries during the 3rd quarter valued at $2,467,000. Finally, John G Ullman & Associates Inc. grew its position in Astec Industries by 64.3% during the 3rd quarter. John G Ullman & Associates Inc. now owns 134,314 shares of the industrial products company's stock worth $4,290,000 after acquiring an additional 52,571 shares during the last quarter. 93.16% of the stock is currently 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.