Astec Industries (ASTE) Upgraded by ValuEngine to Sell

Astec Industries (NASDAQ:ASTE) was upgraded by investment analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.

Other equities analysts also recently issued reports about the company. BidaskClub upgraded Astec Industries from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded Astec Industries from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. Finally, Robert W. Baird boosted their target price on Astec Industries from $37.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $52.00.

Shares of Astec Industries stock traded up $0.91 during trading hours on Thursday, hitting $40.97. The company’s stock had a trading volume of 93,285 shares, compared to its average volume of 189,937. Astec Industries has a 12-month low of $27.86 and a 12-month high of $63.69. The company has a market capitalization of $902.15 million, a price-to-earnings ratio of 14.03 and a beta of 1.52. The company has a quick ratio of 1.08, a current ratio of 2.96 and a debt-to-equity ratio of 0.10.

Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings data on Friday, March 1st. The industrial products company reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.01). Astec Industries had a negative net margin of 5.16% and a positive return on equity of 10.05%. The business had revenue of $317.00 million during the quarter, compared to analysts’ expectations of $314.98 million. During the same quarter in the previous year, the firm earned $0.47 earnings per share. Astec Industries’s revenue was up 1.5% on a year-over-year basis. On average, equities analysts expect that Astec Industries will post 3.22 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of ASTE. Wells Fargo & Company MN increased its stake in Astec Industries by 5.8% during the third quarter. Wells Fargo & Company MN now owns 38,626 shares of the industrial products company’s stock worth $1,948,000 after acquiring an additional 2,111 shares during the last quarter. Prudential Financial Inc. increased its stake in Astec Industries by 18.3% during the third quarter. Prudential Financial Inc. now owns 38,657 shares of the industrial products company’s stock worth $1,949,000 after acquiring an additional 5,980 shares during the last quarter. Rhumbline Advisers increased its stake in Astec Industries by 8.0% during the third quarter. Rhumbline Advisers now owns 54,824 shares of the industrial products company’s stock worth $2,764,000 after acquiring an additional 4,065 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Astec Industries by 36.0% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,513 shares of the industrial products company’s stock worth $278,000 after acquiring an additional 1,460 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Astec Industries by 3.5% during the third quarter. Bank of New York Mellon Corp now owns 638,098 shares of the industrial products company’s stock worth $32,166,000 after acquiring an additional 21,576 shares during the last quarter. 92.57% of the stock is currently owned by institutional investors.

About Astec Industries

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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