Astec Industries (NASDAQ:ASTE – Get Free Report) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.
ASTE has been the topic of several other research reports. Weiss Ratings lowered shares of Astec Industries from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. Longbow Research raised Astec Industries to a “strong-buy” rating in a report on Monday, March 16th. Wall Street Zen cut Astec Industries from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Freedom Capital raised Astec Industries to a “strong-buy” rating in a report on Wednesday, April 1st. Two research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy”.
View Our Latest Stock Analysis on ASTE
Astec Industries Stock Performance
Astec Industries (NASDAQ:ASTE – Get Free Report) last issued its earnings results on Wednesday, May 6th. The industrial products company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.34). Astec Industries had a return on equity of 10.09% and a net margin of 1.75%.The business had revenue of $396.30 million for the quarter, compared to analyst estimates of $393.24 million. Research analysts expect that Astec Industries will post 3.63 earnings per share for the current year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of ASTE. Bank of America Corp DE lifted its holdings in Astec Industries by 64.3% in the first quarter. Bank of America Corp DE now owns 93,365 shares of the industrial products company’s stock worth $5,027,000 after purchasing an additional 36,526 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Astec Industries by 41.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 9,703 shares of the industrial products company’s stock worth $522,000 after buying an additional 2,849 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in shares of Astec Industries in the 1st quarter worth approximately $510,000. Quantinno Capital Management LP lifted its stake in shares of Astec Industries by 73.2% in the 1st quarter. Quantinno Capital Management LP now owns 16,696 shares of the industrial products company’s stock worth $899,000 after acquiring an additional 7,059 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Astec Industries by 32.7% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 23,131 shares of the industrial products company’s stock valued at $1,245,000 after acquiring an additional 5,700 shares in the last quarter. 93.16% of the stock is owned by institutional investors and hedge funds.
Astec Industries Company Profile
Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec’s product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.
Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.
See Also
- Five stocks we like better than Astec Industries
- Apple and Broadcom Forge a Decade-Long Silicon Fortress
- SK Hynix’s Nasdaq Listing Could Reset the AI Memory Trade
- The AI Chip Sell-Off Looks Scary, But the Real Story May Be Liquidity
- Palantir’s CEO Just Called Out OpenAI and Anthropic
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.
