Longbow Research Upgrades Astec Industries (NASDAQ:ASTE) to Strong-Buy

Astec Industries (NASDAQ:ASTE) was upgraded by stock analysts at Longbow Research to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Astec Industries in a research note on Monday, December 29th. Wall Street Zen raised shares of Astec Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Finally, Zacks Research upgraded shares of Astec Industries from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Astec Industries Price Performance

Shares of NASDAQ:ASTE opened at $53.11 on Monday. The firm has a market capitalization of $1.22 billion, a PE ratio of 31.61, a P/E/G ratio of 1.99 and a beta of 1.38. The company has a quick ratio of 1.07, a current ratio of 2.49 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $54.31 and a two-hundred day moving average price of $48.90. Astec Industries has a twelve month low of $29.65 and a twelve month high of $64.37.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings results on Wednesday, February 25th. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.32. Astec Industries had a net margin of 2.75% and a return on equity of 11.35%. The company had revenue of $400.60 million for the quarter, compared to analyst estimates of $374.21 million.

Insider Transactions at Astec Industries

In related news, insider Edward Terrell Gilbert, Jr. sold 975 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $61.07, for a total value of $59,543.25. Following the sale, the insider owned 8,828 shares in the company, valued at approximately $539,125.96. This trade represents a 9.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On Astec Industries

Several hedge funds and other institutional investors have recently modified their holdings of the company. iSAM Funds UK Ltd bought a new stake in shares of Astec Industries in the third quarter worth $50,000. Farther Finance Advisors LLC lifted its holdings in Astec Industries by 8,994.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,546 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 1,529 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Astec Industries by 412.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,212 shares of the industrial products company’s stock valued at $92,000 after acquiring an additional 1,780 shares during the period. SG Americas Securities LLC purchased a new position in Astec Industries in the third quarter worth about $136,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in Astec Industries in the fourth quarter worth about $127,000. 93.16% of the stock is owned by institutional investors.

About Astec Industries

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.