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

Astec Industries (NASDAQ:ASTEGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other analysts have also issued reports on ASTE. Zacks Investment Research lowered shares of Astec Industries from a “hold” rating to a “strong sell” rating and set a $47.00 price target on the stock. in a research report on Friday, February 18th. Robert W. Baird lowered shares of Astec Industries from an “outperform” rating to a “neutral” rating and set a $40.00 price target on the stock. in a research report on Friday, April 8th.

Shares of Astec Industries stock opened at $41.96 on Friday. The company has a market cap of $958.45 million, a PE ratio of 72.35 and a beta of 1.30. The company has a 50 day moving average of $41.75 and a 200-day moving average of $56.07. Astec Industries has a 1-year low of $36.31 and a 1-year high of $75.00.

Astec Industries (NASDAQ:ASTEGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.30. The business had revenue of $291.20 million for the quarter, compared to analyst estimates of $286.56 million. Astec Industries had a net margin of 1.20% and a return on equity of 4.74%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. As a group, equities analysts predict that Astec Industries will post 1.65 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in Astec Industries by 4.6% in the first quarter. BlackRock Inc. now owns 4,042,268 shares of the industrial products company’s stock valued at $173,816,000 after buying an additional 178,771 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Astec Industries by 8.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 802,481 shares of the industrial products company’s stock valued at $55,588,000 after buying an additional 61,215 shares in the last quarter. State Street Corp boosted its position in Astec Industries by 8.7% in the fourth quarter. State Street Corp now owns 773,849 shares of the industrial products company’s stock valued at $53,605,000 after buying an additional 61,673 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in Astec Industries by 54.1% in the first quarter. Westwood Holdings Group Inc. now owns 719,974 shares of the industrial products company’s stock valued at $30,959,000 after buying an additional 252,798 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its position in Astec Industries by 48,177.8% in the third quarter. William Blair Investment Management LLC now owns 497,261 shares of the industrial products company’s stock valued at $26,758,000 after buying an additional 496,231 shares in the last quarter. Hedge funds and other institutional investors own 94.52% of the company’s stock.

About Astec Industries (Get Rating)

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities in the United States and internationally. 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.

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