Astec Industries (NASDAQ:ASTE) Lowered to Buy Rating by Wall Street Zen

Astec Industries (NASDAQ:ASTE) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other analysts have also issued reports on ASTE. Weiss Ratings reissued a “hold (c)” rating on shares of Astec Industries in a report on Monday, December 29th. Zacks Research raised shares of Astec Industries from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Finally, Longbow Research upgraded shares of Astec Industries to a “strong-buy” rating in a research note on Monday, March 16th. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy”.

Astec Industries Trading Down 1.8%

Shares of ASTE stock opened at $52.14 on Friday. The stock has a market cap of $1.19 billion, a P/E ratio of 31.04, a price-to-earnings-growth ratio of 2.01 and a beta of 1.38. Astec Industries has a 1 year low of $29.65 and a 1 year high of $64.37. The company has a current ratio of 2.49, a quick ratio of 1.07 and a debt-to-equity ratio of 0.47. The stock has a 50 day simple moving average of $55.01 and a 200 day simple moving average of $49.20.

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

Insider Activity at Astec Industries

In other news, insider Edward Terrell Gilbert, Jr. sold 975 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $61.07, for a total transaction of $59,543.25. Following the completion of the transaction, the insider owned 8,828 shares of the company’s stock, valued at approximately $539,125.96. The trade was a 9.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.99% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ASTE. Amalgamated Bank lifted its holdings in shares of Astec Industries by 3.4% in the third quarter. Amalgamated Bank now owns 6,736 shares of the industrial products company’s stock worth $324,000 after acquiring an additional 224 shares during the last quarter. Horizon Investments LLC grew its holdings in shares of Astec Industries by 2.0% during the 3rd quarter. Horizon Investments LLC now owns 12,236 shares of the industrial products company’s stock valued at $587,000 after purchasing an additional 237 shares during the last quarter. Martin & Co. Inc. TN grew its holdings in shares of Astec Industries by 0.5% during the 3rd quarter. Martin & Co. Inc. TN now owns 80,973 shares of the industrial products company’s stock valued at $3,897,000 after purchasing an additional 373 shares during the last quarter. Swiss National Bank increased its position in Astec Industries by 1.5% during the 3rd quarter. Swiss National Bank now owns 39,800 shares of the industrial products company’s stock worth $1,916,000 after purchasing an additional 600 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Astec Industries by 1.2% in the 2nd quarter. Legal & General Group Plc now owns 59,837 shares of the industrial products company’s stock valued at $2,495,000 after purchasing an additional 694 shares during the last quarter. Institutional investors own 93.16% of the company’s stock.

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.