Astec Industries (ASTE) Stock Rating Upgraded by Dougherty & Co

Astec Industries (NASDAQ:ASTE) was upgraded by equities researchers at Dougherty & Co from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, The Fly reports.

Several other analysts also recently commented on the stock. Zacks Investment Research raised shares of Astec Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, December 4th. BidaskClub downgraded shares of Astec Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. William Blair raised shares of Astec Industries from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 2nd. Seaport Global Securities reissued a “hold” rating on shares of Astec Industries in a research report on Tuesday, January 23rd. Finally, TheStreet downgraded shares of Astec Industries from a “b” rating to a “c+” rating in a research report on Tuesday, October 24th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Astec Industries presently has a consensus rating of “Buy” and an average target price of $73.33.

Shares of Astec Industries (NASDAQ:ASTE) opened at $60.03 on Wednesday. Astec Industries has a 1 year low of $45.70 and a 1 year high of $73.37. The company has a market cap of $1,421.33, a PE ratio of 35.73, a P/E/G ratio of 1.98 and a beta of 1.06.

Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings data on Tuesday, February 20th. The industrial products company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.03. Astec Industries had a net margin of 3.27% and a return on equity of 5.89%. The company had revenue of $312.38 million for the quarter, compared to the consensus estimate of $288.14 million. During the same period in the prior year, the firm posted $0.53 EPS. Astec Industries’s revenue for the quarter was down 4.3% on a year-over-year basis. analysts anticipate that Astec Industries will post 1.61 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. boosted its holdings in shares of Astec Industries by 11.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,870 shares of the industrial products company’s stock valued at $104,000 after acquiring an additional 198 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Astec Industries by 87.5% during the 3rd quarter. Victory Capital Management Inc. now owns 3,633 shares of the industrial products company’s stock valued at $203,000 after acquiring an additional 1,695 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Astec Industries by 165.2% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 4,094 shares of the industrial products company’s stock valued at $229,000 after acquiring an additional 2,550 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in shares of Astec Industries during the 2nd quarter valued at about $230,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Astec Industries during the 3rd quarter valued at about $305,000. 82.27% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “Astec Industries (ASTE) Stock Rating Upgraded by Dougherty & Co” was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this news story on another site, it was illegally stolen and republished in violation of United States & international trademark and copyright laws. The original version of this news story can be viewed at https://ledgergazette.com/2018/02/21/astec-industries-aste-stock-rating-upgraded-by-dougherty-co.html.

Astec Industries Company Profile

Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.

The Fly

Analyst Recommendations for Astec Industries (NASDAQ:ASTE)

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.

Leave a Reply