Astec Industries, Inc. (NASDAQ:ASTE) Given Consensus Recommendation of “Hold” by Brokerages

Astec Industries, Inc. (NASDAQ:ASTE) has earned a consensus rating of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $41.00.

Several research analysts have recently weighed in on the company. BidaskClub downgraded ZIX from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 7th. ValuEngine downgraded Viewray from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th.

In related news, insider Jaco Van Der Merwe acquired 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average price of $32.75 per share, with a total value of $65,500.00. Following the acquisition, the insider now owns 4,579 shares of the company’s stock, valued at approximately $149,962.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Covington Capital Management purchased a new stake in Astec Industries during the 4th quarter worth about $32,000. PNC Financial Services Group Inc. lifted its holdings in Astec Industries by 29.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,737 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 391 shares in the last quarter. Bessemer Group Inc. purchased a new stake in Astec Industries during the 4th quarter worth about $54,000. Public Employees Retirement System of Ohio lifted its holdings in Astec Industries by 18.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 1,949 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 297 shares in the last quarter. Finally, Flinton Capital Management LLC lifted its holdings in Astec Industries by 32.8% during the 4th quarter. Flinton Capital Management LLC now owns 2,528 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 624 shares in the last quarter. 92.86% of the stock is currently owned by institutional investors and hedge funds.

Shares of ASTE stock traded down $1.58 on Friday, hitting $29.94. 8,040 shares of the stock were exchanged, compared to its average volume of 134,704. The company has a quick ratio of 1.10, a current ratio of 3.02 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $706.10 million, a price-to-earnings ratio of 10.24 and a beta of 1.47. Astec Industries has a one year low of $27.86 and a one year high of $62.06. The firm has a 50 day moving average price of $30.87.

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

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.

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