BidaskClub upgraded shares of Astec Industries (NASDAQ:ASTE) from a hold rating to a buy rating in a report issued on Thursday morning.
A number of other research firms have also recently commented on ASTE. ValuEngine upgraded shares of Astec Industries from a sell rating to a hold rating in a research note on Wednesday, May 9th. Robert W. Baird reissued a buy rating and set a $64.00 price target on shares of Astec Industries in a research report on Friday, April 13th. Finally, Stifel Nicolaus reduced their price target on shares of Astec Industries from $67.00 to $65.00 and set a buy rating for the company in a research report on Wednesday, April 25th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $67.25.
NASDAQ:ASTE opened at $59.80 on Thursday. The stock has a market capitalization of $1.38 billion, a PE ratio of 37.85, a PEG ratio of 1.77 and a beta of 1.14. Astec Industries has a fifty-two week low of $45.70 and a fifty-two week high of $64.80.
Astec Industries (NASDAQ:ASTE) last released its earnings results on Tuesday, April 24th. The industrial products company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.01. The company had revenue of $325.50 million during the quarter, compared to analysts’ expectations of $336.32 million. Astec Industries had a net margin of 3.60% and a return on equity of 6.09%. Astec Industries’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the business earned $0.65 EPS. sell-side analysts predict that Astec Industries will post 3.39 earnings per share for the current fiscal year.
In other Astec Industries news, CEO Benjamin G. Brock sold 22,439 shares of the firm’s stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $54.71, for a total transaction of $1,227,637.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.70% of the company’s stock.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Astec Industries by 1.1% during the 1st quarter. BlackRock Inc. now owns 2,532,719 shares of the industrial products company’s stock valued at $139,755,000 after purchasing an additional 26,528 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Astec Industries by 69.7% during the 1st quarter. Franklin Resources Inc. now owns 1,778,353 shares of the industrial products company’s stock valued at $98,129,000 after purchasing an additional 730,594 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Astec Industries by 8.8% during the 4th quarter. Bank of New York Mellon Corp now owns 633,973 shares of the industrial products company’s stock valued at $37,088,000 after purchasing an additional 51,112 shares in the last quarter. Gabelli Funds LLC increased its holdings in shares of Astec Industries by 0.9% during the 1st quarter. Gabelli Funds LLC now owns 605,900 shares of the industrial products company’s stock valued at $33,434,000 after purchasing an additional 5,700 shares in the last quarter. Finally, Marcato Capital Management LP purchased a new position in shares of Astec Industries during the 1st quarter valued at approximately $29,016,000. 91.10% of the stock is owned by hedge funds and other 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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