Astec Industries (ASTE) Upgraded at ValuEngine

Astec Industries (NASDAQ:ASTE) was upgraded by equities researchers at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued on Thursday, April 11th, ValuEngine reports.

A number of other analysts have also recently weighed in on ASTE. BidaskClub cut shares of Astec Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Robert W. Baird upped their price target on shares of Astec Industries from $37.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Finally, Zacks Investment Research raised shares of Astec Industries from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the company. Astec Industries currently has an average rating of “Hold” and an average price target of $52.00.

Shares of ASTE opened at $34.27 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.02 and a quick ratio of 1.10. The firm has a market capitalization of $771.69 million, a price-to-earnings ratio of 11.74 and a beta of 1.44. Astec Industries has a fifty-two week low of $27.86 and a fifty-two week high of $63.69.

Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.19). Astec Industries had a negative net margin of 5.67% and a positive return on equity of 9.53%. The business had revenue of $325.78 million during the quarter, compared to analyst estimates of $338.68 million. During the same quarter last year, the firm posted $0.87 earnings per share. The company’s revenue was up .1% on a year-over-year basis. On average, analysts forecast that Astec Industries will post 2.34 EPS for the current year.

Several institutional investors have recently modified their holdings of ASTE. Wells Fargo & Company MN raised its stake in shares of Astec Industries by 5.8% in the 3rd quarter. Wells Fargo & Company MN now owns 38,626 shares of the industrial products company’s stock valued at $1,948,000 after purchasing an additional 2,111 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Astec Industries by 18.3% in the 3rd quarter. Prudential Financial Inc. now owns 38,657 shares of the industrial products company’s stock valued at $1,949,000 after purchasing an additional 5,980 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Astec Industries by 8.0% in the 3rd quarter. Rhumbline Advisers now owns 54,824 shares of the industrial products company’s stock valued at $2,764,000 after purchasing an additional 4,065 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Astec Industries by 36.0% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,513 shares of the industrial products company’s stock valued at $278,000 after purchasing an additional 1,460 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Astec Industries by 3.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 638,098 shares of the industrial products company’s stock valued at $32,166,000 after purchasing an additional 21,576 shares in the last quarter. Institutional investors and hedge funds own 92.75% of the company’s stock.

Astec Industries Company Profile

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company's Infrastructure Group segment provides hot-mix asphalt plants, wood pellet plants, asphalt pavers, material transfer vehicles, soil stabilizing reclaiming machinery, milling machines, paver screeds, and related ancillary equipment.

Further Reading: Short Selling

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