Astec Industries (NASDAQ:ASTE) Downgraded by Wall Street Zen to “Buy”

Astec Industries (NASDAQ:ASTE) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Astec Industries in a research report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Astec Industries has a consensus rating of “Hold” and an average price target of $41.00.

Astec Industries Price Performance

ASTE stock opened at $57.43 on Friday. The stock has a 50-day moving average price of $47.37 and a two-hundred day moving average price of $45.93. Astec Industries has a 1 year low of $29.65 and a 1 year high of $57.88. The stock has a market cap of $1.31 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 2.37 and a beta of 1.45. The company has a current ratio of 2.58, a quick ratio of 1.01 and a debt-to-equity ratio of 0.48.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings data on Wednesday, November 5th. The industrial products company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.02. Astec Industries had a return on equity of 11.93% and a net margin of 3.50%.The company had revenue of $350.10 million during the quarter, compared to analysts’ expectations of $336.00 million.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC acquired a new stake in Astec Industries during the 2nd quarter valued at $27,000. iSAM Funds UK Ltd acquired a new stake in shares of Astec Industries during the 3rd quarter worth about $50,000. Farther Finance Advisors LLC boosted its holdings in shares of Astec Industries by 8,994.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,546 shares of the industrial products company’s stock worth $67,000 after buying an additional 1,529 shares during the period. Tower Research Capital LLC TRC grew its stake in Astec Industries by 412.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,212 shares of the industrial products company’s stock valued at $92,000 after buying an additional 1,780 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Astec Industries in the 3rd quarter valued at about $136,000. 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.