BidaskClub Downgrades Astec Industries (ASTE) to Hold

Astec Industries (NASDAQ:ASTE) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Separately, Zacks Investment Research raised Astec Industries from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $58.00.

Astec Industries stock opened at $39.81 on Friday. Astec Industries has a twelve month low of $27.86 and a twelve month high of $63.69. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.94 and a current ratio of 3.02. The firm has a market cap of $908.27 million, a PE ratio of 25.20 and a beta of 1.54.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings data on Friday, March 1st. The industrial products company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Astec Industries had a positive return on equity of 9.06% and a negative net margin of 0.21%. The business had revenue of $317.00 million for the quarter, compared to analyst estimates of $314.98 million. During the same quarter in the prior year, the company earned $0.47 earnings per share. The company’s revenue was up 1.5% on a year-over-year basis. Analysts predict that Astec Industries will post 2.83 EPS for the current year.

Institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its holdings in Astec Industries by 18.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,949 shares of the industrial products company’s stock valued at $59,000 after buying an additional 297 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Astec Industries by 2.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 16,092 shares of the industrial products company’s stock valued at $486,000 after buying an additional 353 shares during the last quarter. Texas Permanent School Fund increased its holdings in Astec Industries by 2.7% in the fourth quarter. Texas Permanent School Fund now owns 14,919 shares of the industrial products company’s stock valued at $450,000 after buying an additional 388 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Astec Industries by 29.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,737 shares of the industrial products company’s stock valued at $53,000 after buying an additional 391 shares during the last quarter. Finally, Flinton Capital Management LLC increased its holdings in Astec Industries by 32.8% in the fourth quarter. Flinton Capital Management LLC now owns 2,528 shares of the industrial products company’s stock valued at $76,000 after buying an additional 624 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

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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