Astec Industries (NASDAQ:ASTE) Rating Increased to Buy at StockNews.com

Astec Industries (NASDAQ:ASTE) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Separately, Robert W. Baird boosted their price target on shares of Astec Industries from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, November 7th.

Astec Industries Stock Performance

ASTE traded down $0.06 on Wednesday, hitting $32.60. 71,585 shares of the company’s stock were exchanged, compared to its average volume of 87,137. 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 stock has a fifty day moving average of $35.88 and a two-hundred day moving average of $33.22. Astec Industries has a twelve month low of $28.46 and a twelve month high of $44.74. The firm has a market cap of $743.35 million, a PE ratio of -407.45 and a beta of 1.31.

Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%. The business had revenue of $291.40 million for the quarter, compared to analysts’ expectations of $312.90 million. During the same period in the prior year, the firm earned ($0.01) EPS. The business’s quarterly revenue was down 3.9% on a year-over-year basis.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. GAMMA Investing LLC grew its position in Astec Industries by 69.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company’s stock valued at $36,000 after buying an additional 458 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Astec Industries in the 3rd quarter worth approximately $45,000. Wilmington Savings Fund Society FSB bought a new position in shares of Astec Industries in the third quarter valued at approximately $49,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Astec Industries during the third quarter worth approximately $64,000. Finally, Point72 DIFC Ltd bought a new position in Astec Industries during the 3rd quarter valued at $69,000. 93.16% of the stock is owned by institutional investors and hedge funds.

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.