Astec Industries (NASDAQ:ASTE) Upgraded at StockNews.com

Astec Industries (NASDAQ:ASTE) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Separately, Robert W. Baird lifted their price objective on Astec Industries from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th.

Astec Industries Trading Down 0.5 %

Shares of NASDAQ ASTE opened at $34.92 on Tuesday. Astec Industries has a 1-year low of $28.46 and a 1-year high of $44.74. The company has a 50-day moving average of $35.45 and a two-hundred day moving average of $33.48. The company has a market cap of $796.18 million, a PE ratio of -436.45 and a beta of 1.31. The company has a current ratio of 2.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. The firm had revenue of $291.40 million for the quarter, compared to the consensus estimate of $312.90 million. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) EPS.

Institutional Investors Weigh In On Astec Industries

A number of institutional investors have recently made changes to their positions in the stock. Tompkins Financial Corp acquired a new position in shares of Astec Industries during the 4th quarter worth about $34,000. GAMMA Investing LLC grew its holdings in Astec Industries by 69.8% during the third quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 458 shares during the period. Point72 Asset Management L.P. bought a new stake in Astec Industries in the third quarter valued at approximately $45,000. Wilmington Savings Fund Society FSB acquired a new stake in Astec Industries in the third quarter worth $49,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Astec Industries during the third quarter worth $64,000. 93.16% of the stock is owned by institutional investors and hedge funds.

About Astec Industries

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recovery units, paste back-fill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, industrial and asphalt burners and systems, custom batch plants, material transfer vehicles, soil stabilizing-reclaiming machinery, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and grinders, pump trailers, concrete batch plants, control systems, liquid terminals, storage equipment and related parts, construction and retrofits, polymer plants, and concrete mixers, as well as engineering and environmental permitting services.