Astec Industries (NASDAQ:ASTE) Research Coverage Started at Sidoti

Sidoti began coverage on shares of Astec Industries (NASDAQ:ASTE) in a research report sent to investors on Tuesday, The Fly reports. The brokerage issued a neutral rating on the industrial products company’s stock.

Several other brokerages have also weighed in on ASTE. BidaskClub raised Astec Industries from a sell rating to a hold rating in a research report on Thursday, September 12th. ValuEngine raised Astec Industries from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Seven investment analysts have rated the stock with a hold rating, The stock presently has an average rating of Hold and an average price target of $41.00.

Shares of NASDAQ ASTE opened at $30.33 on Tuesday. Astec Industries has a 1-year low of $26.20 and a 1-year high of $51.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.21 and a quick ratio of 1.13. The business’s fifty day moving average price is $29.79 and its two-hundred day moving average price is $32.07. The firm has a market capitalization of $683.34 million, a PE ratio of 10.39 and a beta of 1.46.

Astec Industries (NASDAQ:ASTE) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.05). Astec Industries had a positive return on equity of 7.07% and a negative net margin of 0.20%. The company had revenue of $304.80 million during the quarter, compared to analyst estimates of $299.96 million. During the same period in the prior year, the business earned $1.03 earnings per share. Astec Industries’s quarterly revenue was down 12.2% on a year-over-year basis. Equities research analysts expect that Astec Industries will post 2.04 earnings per share for the current fiscal year.

In other Astec Industries news, VP Stephen C. Anderson purchased 2,200 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was bought at an average price of $27.75 per share, with a total value of $61,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jaco Van Der Merwe purchased 2,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was acquired at an average cost of $28.00 per share, with a total value of $56,000.00. Following the purchase, the insider now owns 6,579 shares of the company’s stock, valued at approximately $184,212. The disclosure for this purchase can be found here. Corporate insiders own 1.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. BMT Investment Advisors grew its stake in shares of Astec Industries by 1.4% in the second quarter. BMT Investment Advisors now owns 42,951 shares of the industrial products company’s stock worth $1,398,000 after purchasing an additional 600 shares in the last quarter. BRYN MAWR TRUST Co boosted its stake in Astec Industries by 0.6% during the second quarter. BRYN MAWR TRUST Co now owns 106,959 shares of the industrial products company’s stock valued at $3,483,000 after buying an additional 600 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Astec Industries by 14.7% during the second quarter. JPMorgan Chase & Co. now owns 7,382 shares of the industrial products company’s stock valued at $239,000 after buying an additional 946 shares in the last quarter. Magnetar Financial LLC boosted its stake in Astec Industries by 6.1% during the second quarter. Magnetar Financial LLC now owns 23,376 shares of the industrial products company’s stock valued at $761,000 after buying an additional 1,339 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Astec Industries by 9.6% during the second quarter. Bank of Montreal Can now owns 15,256 shares of the industrial products company’s stock valued at $497,000 after buying an additional 1,342 shares in the last quarter. 92.75% of the stock is owned by institutional investors.

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'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.

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