Astec Industries (NASDAQ:ASTE) Stock Rating Upgraded by StockNews.com

Astec Industries (NASDAQ:ASTE) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Separately, Robert W. Baird lifted their target price on Astec Industries from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, November 7th.

Astec Industries Stock Up 0.1 %

ASTE opened at $33.85 on Tuesday. Astec Industries has a 12 month low of $28.46 and a 12 month high of $44.74. The company has a market cap of $771.78 million, a PE ratio of -423.07 and a beta of 1.31. The company has a current ratio of 2.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average of $35.51 and a 200 day moving average of $33.44.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. The firm had revenue of $291.40 million during the quarter, compared to analyst estimates of $312.90 million. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period last year, the company earned ($0.01) earnings per share.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Harvey Partners LLC raised its position in shares of Astec Industries by 101.4% in the third quarter. Harvey Partners LLC now owns 282,000 shares of the industrial products company’s stock worth $9,007,000 after buying an additional 142,000 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Astec Industries by 96.9% during the third quarter. Assenagon Asset Management S.A. now owns 171,101 shares of the industrial products company’s stock worth $5,465,000 after purchasing an additional 84,202 shares in the last quarter. Mill Road Capital Management LLC bought a new position in shares of Astec Industries in the third quarter worth approximately $2,467,000. John G Ullman & Associates Inc. raised its stake in Astec Industries by 64.3% in the third quarter. John G Ullman & Associates Inc. now owns 134,314 shares of the industrial products company’s stock valued at $4,290,000 after purchasing an additional 52,571 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in Astec Industries by 23.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 215,654 shares of the industrial products company’s stock valued at $6,888,000 after purchasing an additional 41,130 shares during the last quarter. 93.16% of the stock is owned by institutional investors.

About Astec Industries

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recovery units, paste back-fill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, industrial and asphalt burners and systems, custom batch plants, material transfer vehicles, soil stabilizing-reclaiming machinery, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and grinders, pump trailers, concrete batch plants, control systems, liquid terminals, storage equipment and related parts, construction and retrofits, polymer plants, and concrete mixers, as well as engineering and environmental permitting services.