Astec Industries, Inc. (ASTE) Receives $61.50 Consensus Target Price from Analysts

Shares of Astec Industries, Inc. (NASDAQ:ASTE) have been given an average rating of “Hold” by the nine research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $61.50.

Several research firms recently commented on ASTE. TheStreet downgraded Astec Industries from a “b” rating to a “c+” rating in a research note on Wednesday, July 25th. BidaskClub downgraded Astec Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Robert W. Baird downgraded Astec Industries from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $64.00 to $53.00 in a research report on Tuesday, July 24th. Stifel Nicolaus dropped their target price on Astec Industries from $65.00 to $63.00 and set a “buy” rating on the stock in a research report on Wednesday, July 25th. Finally, ValuEngine downgraded Astec Industries from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 23rd.

Astec Industries stock traded up $0.09 during trading on Monday, hitting $39.11. The stock had a trading volume of 1,684 shares, compared to its average volume of 401,405. Astec Industries has a 1 year low of $32.51 and a 1 year high of $64.80. The company has a current ratio of 3.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.04. The company has a market cap of $849.44 million, a price-to-earnings ratio of 24.68 and a beta of 1.39.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.29). Astec Industries had a negative net margin of 0.21% and a positive return on equity of 9.06%. The firm had revenue of $256.60 million during the quarter, compared to analysts’ expectations of $276.80 million. During the same quarter in the previous year, the company posted ($0.12) EPS. Astec Industries’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities research analysts forecast that Astec Industries will post 2.78 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Tuesday, November 13th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, November 9th. This represents a $0.44 annualized dividend and a dividend yield of 1.13%. Astec Industries’s dividend payout ratio is currently 27.85%.

Astec Industries announced that its board has initiated a stock repurchase program on Monday, July 30th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 13.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Large investors have recently bought and sold shares of the business. Strs Ohio purchased a new stake in shares of Astec Industries during the third quarter worth $120,000. Amalgamated Bank bought a new position in shares of Astec Industries in the second quarter worth $209,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Astec Industries in the first quarter worth $219,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Astec Industries in the second quarter worth $242,000. Finally, Xact Kapitalforvaltning AB bought a new position in shares of Astec Industries in the first quarter worth $257,000. Hedge funds and other institutional investors own 91.73% 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 operates through Infrastructure Group, Aggregate and Mining Group, and Energy Group segments.

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Analyst Recommendations for Astec Industries (NASDAQ:ASTE)

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