Astec Industries (NASDAQ:ASTE) Upgraded by Wall Street Zen to “Strong-Buy” Rating

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

A number of other brokerages also recently weighed in on ASTE. Freedom Capital raised shares of Astec Industries to a “strong-buy” rating in a report on Wednesday, April 1st. Longbow Research raised shares of Astec Industries to a “strong-buy” rating in a report on Monday, March 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Astec Industries in a report on Monday, December 29th. Finally, Zacks Research raised shares of Astec Industries from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Three equities research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Strong Buy”.

Astec Industries Stock Performance

ASTE stock opened at $61.22 on Friday. The company has a market capitalization of $1.40 billion, a P/E ratio of 36.44, a PEG ratio of 2.31 and a beta of 1.39. The company has a 50-day simple moving average of $56.55 and a 200 day simple moving average of $49.85. Astec Industries has a fifty-two week low of $31.88 and a fifty-two week high of $64.37. The company has a quick ratio of 1.07, a current ratio of 2.49 and a debt-to-equity ratio of 0.47.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings data on Wednesday, February 25th. The industrial products company reported $1.06 earnings per share for the quarter, topping 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 business had revenue of $400.60 million during the quarter, compared to the consensus estimate of $374.21 million.

Insider Buying and Selling

In other Astec Industries news, insider Edward Terrell Gilbert, Jr. sold 975 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $61.07, for a total transaction of $59,543.25. Following the completion of the sale, the insider directly owned 8,828 shares of the company’s stock, valued at approximately $539,125.96. This represents a 9.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.99% of the company’s stock.

Institutional Trading of Astec Industries

A number of hedge funds have recently bought and sold shares of ASTE. Royal Bank of Canada lifted its stake in Astec Industries by 15.6% during the first quarter. Royal Bank of Canada now owns 65,654 shares of the industrial products company’s stock valued at $2,262,000 after buying an additional 8,847 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Astec Industries in the 1st quarter valued at about $1,526,000. Millennium Management LLC increased its holdings in shares of Astec Industries by 188.2% in the 1st quarter. Millennium Management LLC now owns 148,351 shares of the industrial products company’s stock valued at $5,111,000 after purchasing an additional 96,883 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Astec Industries by 2.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,577 shares of the industrial products company’s stock valued at $2,259,000 after purchasing an additional 1,358 shares during the period. Finally, Jane Street Group LLC increased its holdings in shares of Astec Industries by 2.9% in the 1st quarter. Jane Street Group LLC now owns 46,566 shares of the industrial products company’s stock valued at $1,604,000 after purchasing an additional 1,305 shares during the period. 93.16% of the stock is owned by hedge funds and other institutional investors.

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.