Astec Industries Inc. (ASTE) Receives Average Recommendation of “Hold” from Analysts
Astec Industries Inc. (NASDAQ:ASTE) has been given an average recommendation of “Hold” by the nine brokerages that are currently covering the stock. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $53.17.
ASTE has been the topic of several research reports. Zacks Investment Research downgraded shares of Astec Industries from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Robert W. Baird downgraded shares of Astec Industries from an “outperform” rating to a “neutral” rating and set a $55.00 price target on the stock. in a report on Tuesday, July 19th. They noted that the move was a valuation call. BB&T Corp. reiterated a “hold” rating on shares of Astec Industries in a report on Tuesday, July 12th. Maxim Group increased their price target on shares of Astec Industries from $60.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. Finally, Stifel Nicolaus increased their price target on shares of Astec Industries from $63.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th.
In related news, CFO David C. Silvious sold 1,076 shares of Astec Industries stock in a transaction on Friday, August 5th. The shares were sold at an average price of $59.98, for a total value of $64,538.48. Following the sale, the chief financial officer now owns 1,070 shares of the company’s stock, valued at approximately $64,178.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Stephen C. Anderson sold 1,070 shares of Astec Industries stock in a transaction on Monday, August 1st. The shares were sold at an average price of $60.59, for a total transaction of $64,831.30. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in ASTE. Capstone Asset Management Co. boosted its stake in Astec Industries by 1.6% in the second quarter. Capstone Asset Management Co. now owns 7,129 shares of the company’s stock worth $400,000 after buying an additional 110 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Astec Industries by 109.1% in the second quarter. BNP Paribas Arbitrage SA now owns 6,178 shares of the company’s stock worth $347,000 after buying an additional 3,223 shares in the last quarter. Phocas Financial Corp. boosted its stake in Astec Industries by 118.0% in the first quarter. Phocas Financial Corp. now owns 135,763 shares of the company’s stock worth $6,336,000 after buying an additional 73,496 shares in the last quarter. Royal Bank of Canada boosted its stake in Astec Industries by 1.4% in the first quarter. Royal Bank of Canada now owns 5,125 shares of the company’s stock worth $239,000 after buying an additional 73 shares in the last quarter. Finally, Barclays PLC boosted its stake in Astec Industries by 5.7% in the first quarter. Barclays PLC now owns 28,265 shares of the company’s stock worth $1,300,000 after buying an additional 1,534 shares in the last quarter. 79.16% of the stock is currently owned by hedge funds and other institutional investors.
Astec Industries (NASDAQ:ASTE) traded up 0.31% during mid-day trading on Thursday, reaching $58.51. 68,106 shares of the company’s stock were exchanged. The company’s 50-day moving average is $58.24 and its 200 day moving average is $54.45. Astec Industries has a one year low of $30.76 and a one year high of $62.75. The firm has a market capitalization of $1.35 billion, a P/E ratio of 32.33 and a beta of 1.26.
Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.04. The firm earned $294.40 million during the quarter, compared to analyst estimates of $283.44 million. Astec Industries had a net margin of 4.18% and a return on equity of 6.72%. Astec Industries’s revenue was up 11.5% on a year-over-year basis. During the same period last year, the firm posted $0.51 EPS. Equities analysts predict that Astec Industries will post $2.40 earnings per share for the current fiscal year.
Astec Industries Company Profile
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. The Company’s products are used in each phase of road building, from quarrying and crushing the aggregate to application of the road surface.
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