Astec Industries, Inc. (NASDAQ:ASTE) Receives Consensus Rating of “Hold” from Analysts

Astec Industries, Inc. (NASDAQ:ASTE) has received a consensus rating of “Hold” from the six research firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $39.00.

Several analysts recently weighed in on the company. Sidoti assumed coverage on Astec Industries in a research note on Tuesday, October 8th. They issued a “neutral” rating on the stock. BidaskClub raised Astec Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday. ValuEngine lowered Astec Industries from a “hold” rating to a “sell” rating in a research note on Friday, November 15th. William Blair reaffirmed a “market perform” rating on shares of Astec Industries in a research note on Tuesday, October 29th. Finally, Zacks Investment Research lowered Astec Industries from a “hold” rating to a “strong sell” rating and set a $37.00 price objective on the stock. in a research note on Thursday, October 31st.

Shares of ASTE traded down $0.90 during trading hours on Tuesday, hitting $39.78. 188,135 shares of the company were exchanged, compared to its average volume of 141,843. The company has a market cap of $917.18 million, a price-to-earnings ratio of 13.62 and a beta of 1.48. Astec Industries has a fifty-two week low of $26.20 and a fifty-two week high of $43.26. The firm’s fifty day moving average is $37.18 and its 200 day moving average is $32.09.

Astec Industries (NASDAQ:ASTE) last released its earnings results on Tuesday, October 29th. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.14). The company had revenue of $255.80 million for the quarter, compared to analyst estimates of $260.24 million. Astec Industries had a positive return on equity of 6.62% and a negative net margin of 0.53%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the company posted $0.30 earnings per share. Analysts expect that Astec Industries will post 1.9 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 11th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Thursday, November 7th. Astec Industries’s dividend payout ratio (DPR) is presently 15.07%.

A number of large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its position in Astec Industries by 144.7% in the third quarter. Tower Research Capital LLC TRC now owns 1,226 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 725 shares during the last quarter. Quadrant Capital Group LLC raised its position in Astec Industries by 1,360.0% in the third quarter. Quadrant Capital Group LLC now owns 1,387 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 1,292 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Astec Industries by 10.2% in the third quarter. Public Employees Retirement System of Ohio now owns 2,845 shares of the industrial products company’s stock valued at $88,000 after purchasing an additional 263 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in Astec Industries in the third quarter valued at about $102,000. Finally, KBC Group NV raised its position in Astec Industries by 208.7% in the second quarter. KBC Group NV now owns 5,627 shares of the industrial products company’s stock valued at $183,000 after purchasing an additional 3,804 shares during the last quarter. 90.87% of the stock is currently owned by institutional investors and hedge funds.

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'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.

See Also: Dead Cat Bounce

Receive News & Ratings for Astec Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astec Industries and related companies with MarketBeat.com's FREE daily email newsletter.